The project initially received support from local residents, city and state officials totaling about $1,000,000, plus forgiveness of $550,000 in taxes inherited from the previous owners. Walkway then solicited funding from both the State and Federal governments for historic preservation, and from private philanthropic organizations. Funding sources as of January 13, 2016, include: The Dyson Foundation, which has donated almost $20 million, including guaranteeing $8.1 million in loans that were made by Ulster Savings Bank and M&T Bank to complete the project in 2009 (now paid-off), plus $2.3 million to build the elevator that was completed in 2014. New York State funding, from various entities, totals about $22.5 million. Federal government funding, from various entities, totals about $3.5 million. Scenic Hudson, Inc., which has donated $1 million. The Jane W. Nuhn Charitable Trust has donated $500,000. The M&T Charitable Foundation has donated between $50,000 and $100,000. Amy P. Goldman and Sarah Arno have donated between $100,000 and $250,000. The total budget as of October 2009 totaled about $38.8 million. The Walkway Group raised a total of $30.7 million as of October 23, 2009. The $8.1 million deficit was financed by lines of credit from Ulster Savings Bank ($4 million) and M&T Bank ($4.1 million) that were drawn-upon to complete the project in 2009. These lines of credit were converted to loans, with an additional $2.3 million allocated to 2014 elevator construction, and were guaranteed and paid-off by The Dyson Foundation (see above). The project was separated into four phases, with the first two completed as of October 2009: Phase 1 – attain ownership of the bridge. Phase 2 – structural analysis of the bridge and creation of a comprehensive plan, including budget and timeline for completion. The group also had to find funding for the project and secure funding for the start of construction. Phase 3 – construct and open the first of the walkway on the Ulster side. The Dutchess side will get an elevator and of walkway. This phase was complete on October 3, 2009 (the grand-opening date), excepting a $2.3 million elevator installation in Poughkeepsie that was completed during the summer of 2014. Phase 4 – construct and open the remaining of the walkway and its resultant connections to the Hudson Valley Rail Trail in Highland and the Dutchess Rail Trail in Poughkeepsie. The walkway was completed on September 5, 2009, and opened to the public on