Staten Island May Get New Bridge

Port Authority says private firm will build new Goethals span

Tuesday, Feb 22, 2011  |  Updated 10:54 AM EDT
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Staten Island May Get New Bridge

A rendering of the proposed revamp of the Goethals Bridge.

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Staten Islanders may get a new bridge financed via an old-fashioned installment plan.

The Goethals Bridge, which joins Staten Island and New Jersey, could be rebuilt by a private company, the Daily News reported Tuesday.

The Port Authority would then buy back the new span, making payments on the estimated $1 billion price tag in installments lasting 30 years, the paper said.

The new span would replace the crowded 82-year-old Goethals, whose lanes are now too narrow for modern vehicles. 

The PA will still collect the toll, which is $8 eastbound.

This idea of private sector financing harkens to the 19th century when rich backers financed public projects, including the Brooklyn Bridge.

"We are buying a bridge, paying for it over a period of time and getting a guaranteed warranty on it," PA spokesman Steve Coleman told the paper.

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