My understanding is that the rail and bridge portions of the project have been split into parallel Environmental Impact Studies. This allows the timeline to be compressed, as they can start working on building the bridge before they have all of the final rail design work done. My understanding is that they're planning on building the rail semi-concurrently with the bridge (the rail might open a few years later, but not decades), in order to maximize the funding opportunities. With all of these agencies working together (MTA, Thruway, NYSDOT, FTA and USDOT) the likelihood of cobbling together enough funding sources increases.
There will probably be higher tolls for passenger and commercial vehicles, fares from rail and bus passengers, federal grant money and regional tax levees to help pay off the cost of construction. The higher taxes will theoretically be offset by the increases property values of those within a 5 mile radius of any of the stations. Expect a real estate boom in Orange if this project gets approved.
---Electrical Engineer---
5th generation from Harmon (Croton-on-Hudson, NY), home of the MTA MNRR Harmon Shops.
B.S. Elec. Eng. Tech., Rochester Institute of Tech.
"I have problems sleeping at night when I can't hear the idling of several GE locomotives reverberating off the hills."