BLOOMINGTON, Ind.
(AP) - The state of Indiana hopes to assume control of an Interstate 69
extension project three years after hiring a private developer to complete
the work.
The Indiana Finance
Authority announced the proposed takeover Monday, along with the project’s
fourth delayed completion date of August 2018. The state needs about $165
million to complete the project, which is currently being governed by a
public-private partnership involving bond holders.
"We’re going to get
this job done,” Gov. Eric Holcomb said. “People are going to be able to
drive from Evansville to Indianapolis, light-free, on a true freeway. I look
forward to that day.”
The governor said
construction will continue during negotiations to reclaim the project. The
finance authority said it will take nearly $237 million to complete the
extension, which will connect Evansville to Bloomington, but only $72
million is available.
The I-69
Development Partners originally bid $325 million to win the project. The
group, led by Isolux Infrastructure Netherlands, was to arrange its own
financing to design and build the Bloomington-to-Martinsville section of the
project. In return, the state would make annual payments of nearly $22
million to the group to operate and maintain the highway for 35 years after
its completion.
Work began in 2014
and was originally slated for completion by the end of 2016. But multiple
delays have raised concerns.
In March, the
Spanish company Isolux Corsan - which comprised 80 percent of I-69
Development Partners - began insolvency proceedings in Spain. The state
finance agency is considering declaring I-69 Development Partners to be in
default, though nothing official has been declared.
“The current path
of trying to work with a private company has just been disastrous,” said
Democrat Rep. Matt Pierce of Bloomington, who supports the state’s plan to
take over the project.
“Little is
happening. The road is dangerous. People are frustrated. One deadline after
another has been missed,” he said.
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