Holcomb announced in September that fees along the 157-mile toll road would increase by 35 percent for heavy vehicles and that the state would in turn reap $1 billion to spend on new infrastructure projects.
Gov. Eric Holcomb announced his decision Thursday afternoon after the Indiana Department of Transportation released a strategic plan for interstate tolling that was mandated by a transportation infrastructure funding law passed in 2017.
The amendment to the state’s agreement with the private operator of the Indiana Toll Road requires the company to pay the state $1 billion and invest an additional $50 million in toll road improvements.
A proposed fee increase on heavy-duty commercial vehicles that use the Indiana Toll Road was negotiated without legislative involvement and with considerable secrecy, according to some Indiana lawmakers.
The state is required to study interstate tolling options under the 2017 road-funding plan, which raised gas taxes.
The feasibility study on a proposed statewide tolling program estimates the money would be generated from tolls on six major highways.
The Indiana Department of Transportation formally asked vendors Thursday for information regarding possible tolling on Interstates 65, 70 and 94, as required by the General Assembly.
Neither major-party gubernatorial candidate rejects using more so-called P3s in Indiana’s future. Both think the deals have their place, but they differ on when they should be used.
There’s no question that tolling one of Indiana’s interstates could generate serious cash to help maintain the state’s roads. But are taxpayers willing to pay a few bucks to travel highways that now are free?
Australia-based IFM Investors plans to invest $260 million in capital improvements on the Indiana Toll Road over the next five years.
Authorities in two northwest Indiana counties are scheduled to decide over the next several weeks whether to proceed with a proposal to lease the Indiana Toll Road after the Australian-Spanish consortium that leased it went bankrupt.
Lake County Commissioner Roosevelt Allen told a Northwestern Indiana Regional Planning Commission committee that his county along with LaPorte County are preparing to finalize their offer.
A planned 47-mile expressway between Illinois and Indiana is on hold after new Illinois Gov. Bruce Rauner issued an executive order aimed at addressing the state's deep budget problems.
U.S. Bankruptcy Judge Pamela S. Hollis in Chicago on Tuesday granted ITR Concession Co. approval of the reorganization plan, which is supported by more than 87 percent of senior secured debtholders.
The state has notified the company leasing the toll road that the travel plazas need improvement. And in a letter back to the state last month, ITR Concession Co. said it has hired additional cleaning staff to handle the restrooms.
The operator of the Indiana Toll Road, which paid $3.8 billion for a 75-year operating lease, won approval Tuesday of a schedule paving the way to exit bankruptcy court protection in just more than a month.