NYS Asks Construction Companies how they would fund a tunnel from Long Island to Westchester. Hint: Raise the money from private investors, use tolls on the future tunnel, as a way of being paid back, and a little over as profit.

Westchester tunnel across Long Island Sound takes next step

CLOSE ALBANY - New York officials appear to have zeroed in on Westchester for a potential tunnel across the Long Island Sound and are now turning to the private sector to gauge interest. Gov. Andrew Cuomo's administration issued a formal request Friday to the construction industry and private-equity investors, urging them to express interest in building a tunnel from Long Island.

From article, (New York officials appear to have zeroed in on Westchester for a potential tunnel across the Long Island Sound and are now turning to the private sector to gauge interest.

Gov. Andrew Cuomo's administration issued a formal request Friday to the construction industry and private-equity investors, urging them to express interest in building a tunnel from Long Island.

The request focuses entirely on a tunnel ending in Westchester County and not Connecticut, where the state had also studied as a potential landing spot.

 In order to submit, a contractor must have led a bridge or tunnel project of at least $1 billion in size, while equity investors would need experience with individual projects exceeding $500 million.

Contractors and investors that don't meet those requirements would be able to put together a broader partnership, similar to the consortium of companies involved in building the Gov. Mario M. Cuomo Bridge connecting Westchester and Rockland.

Those who are interested are asked to submit ideas and how they would build and, perhaps more importantly, pay for a tunnel. The deadline to submit ideas is April 2.

During a state budget hearing, Karas told lawmakers that Gov. Andrew Cuomo is "very interested" in the project and the Department of Transportation is moving forward with the next steps.

That includes analyzing the "economic, engineering and environmental aspects" of a tunnel, he said, and whether the private sector and construction industry have any ideas for how to pay for it.

"We will be working with the private sector, with industry, to determine what interest and funding they may suggest for that project," Karas said during the hearing, which focused on the transportation initiatives in Cuomo's $168 billion budget proposal.)

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Me, "NYS Asks Construction Companies how they would fund a tunnel from Long Island to Westchester. Hint: Raise the money from private investors, use tolls on the future tunnel, as a way of being paid back, and a little over as profit. If this tunnel is to be built? It has to be done in a way where NYS does not have to contribute much in funding. If it can be built with private funds, that would be reimbursed with some profit from tolls, this could lead to more construction projects, funded in this way down the road. 
Now a days states don't have the money for big infrastructure projects. This has led to many infrastructure proposals but no Government money to fund them."