IBJNews

State may pay up to $110M in upfront Illiana Expressway costs

Back to TopCommentsE-mailPrintBookmark and Share

A document from Indiana transportation officials says the state may pay upfront costs of as much as $110 million for construction of the proposed Illiana Expressway that would link northwestern Indiana and Chicago's south suburbs.

The Indiana Department of Transportation provided the document at the request of the Northwestern Indiana Regional Planning Commission. That panel must decide in upcoming votes if there's enough money available to pay for the expressway.

The Times of Munster reports that the document also states that Indiana may pay up to $70 million to investors shortly after the proposed highway is completed.

The 12-mile Indiana portion of the 47-mile Illiana Expressway has an estimated $300 million cost. The documents states that INDOT is confident some of that cost can be raised from private investors.

ADVERTISEMENT

  • Competitive Bidding
    If we are going to foot the bill then this needs to be open bidding without the Davis-Bacon act requirements to non-union companies. Lets use some reason and cost accountability and not pump up the coffers of organized crime and democrats.
  • ROADS ROADS ROADS
    Indiana, the land of wide roads and narrow minds...
  • A message from a young Hooiser
    I can't wait to pick up the tab on this!
  • That struck me, as well!
    $300 million to empower a third party to tax drivers with a private road... But not one penny more for mass transit! God forbid any portion of the solution not involve every person clambering, alone, into a 6,000 lb SUV and getting 9 MPG all the way to work in stop and go traffic.
  • $$
    $300M for 12 miles...but god forbid we spend any money on mass-transit...
    • Toll toll toll
      And another toll road to tax Hoosiers who already pay gas taxes and registration fees and...and...and..

    Post a comment to this story

    COMMENTS POLICY
    We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
     
    You are legally responsible for what you post and your anonymity is not guaranteed.
     
    Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
     
    No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
     
    We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
     

    Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

    Sponsored by
    ADVERTISEMENT

    facebook - twitter on Facebook & Twitter

    Follow on TwitterFollow IBJ on Facebook:
    Follow on TwitterFollow IBJ's Tweets on these topics:
     
    Subscribe to IBJ
    1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

    2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

    3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

    4. If you only knew....

    5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

    ADVERTISEMENT