The state of Indiana is taking control of building a long-delayed section of the Interstate 69 extension from a private developer under a deal approved by a state board.
The Indiana Finance Authority says its board voted Thursday to endorse a deal for state agencies to oversee I-69 construction between Bloomington and Martinsville. The deal was announced June 16.
Work on the 21-mile section has stalled amid financial troubles for privately run I-69 Development Partners and contractor Isolux Corsan since construction started in 2014 with an initial October 2016 completion deadline. The company was to build and maintain the highway for 35 years under its state contract.
The finance authority says the state will take full control of the project this summer and borrow the money to finish the work. Completion is projected by August 2018.