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The new $3.1 billion bridge will include two twin spans about 300 north of the existing bridge. Construction is slated to begin in 2013, with the new bridge finished and the old bridge demolished by 2018.
The contract between state officials and contractors includes severe penalties and fines for disrupting toll collection or planned lane openings during construction. It also includes a stipulation that contractors will be fined $120,000 for each day the bridge isn't substantially completed and open after April 3, 2018.
Contract details also include a $10 million community benefits fund to pay for extra residential protections near the construction site, with both sides contributing equally.
The New York State Thruway Authority agrees in the contract to pay for the bridge in 66 monthly installments, with The Journal News reporting some will reach as high as $101 million by the end of this year.
The New York State Thruway Authority has said it plans to use $500 million in bond sales to pay for initial costs. State officials are also waiting for final approval on a $1.5 billion federal loan.
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