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January 18, 2013

DiNapoli Approves Terms of $3.14 Billion Tappan Zee Bridge Contract

Comptroller to Closely Monitor Thruway Authority Finances

State Comptroller Thomas P. DiNapoli today announced he has approved a $3.14 billion contract between the state Thruway Authority and Tappan Zee Constructors to design and build the new Tappan Zee bridge.

“Replacing the Tappan Zee Bridge is New York state’s largest single infrastructure project and is vital to our economic prosperity,” DiNapoli said.  “To protect taxpayers, my office will closely scrutinize the Thruway’s oversight of the construction of the new bridge. The Thruway Authority is responsible for proposing a financing plan and must live up to its commitment to pursue the lowest cost options and ensure that its customers are paying the lowest possible tolls. Every effort must be taken to minimize costs for this project and protect the long-term fiscal health of the Thruway system.”

DiNapoli’s contract approval does not constitute approval of any financial plan, toll increase or debt issuance. The Comptroller’s office will examine these matters separately and will monitor and audit the Thruway’s finances to hold the Authority accountable on issues of transparency, fiscal stability and operational efficiency.

The 66-month contract was won by Tappan Zee Constructors, a joint venture of Fluor Enterprises, Inc., American Bridge Company, Granite Construction Northeast, Inc. and Traylor Bros., Inc.  The Thruway Authority received three bids for the project.

The approved contract takes effect immediately.

To read the approval letter, visit: http://www.osc.state.ny.us/press/releases/jan13/tappan-zee-bridge-contract.pdf

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