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Thursday
Mar222012

Gov. Cuomo Seeks to Allow Private Funding for Public Projects

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(ALBANY, N.Y.) -- Gov. Andrew Cuomo is seeking to allow private companies fund public works projects.

Bloomberg News reports that Cuomo is seeking a bill that would allow private-equity firms to finance construction projects like the new Tappan Zee Bridge—a $5.2 billion project.

“We’re still looking for opportunities to leverage private investment” in the Tappan Zee, Karen Rae, Deputy Secretary of Transportation, said. “The reason we’re moving ahead with public financing is because, number one, we don’t currently have a state law that allows us to do public-private partnerships.”

At least 31 other states have laws allowing private companies to invest in public projects.

Copyright 2012 ABC News Radio

DateThursday, March 22, 2012 at 2:16PM AuthorRebecca Fenton

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