BLOOMINGTON, Ind. (AP) — The state of Indiana hopes to assume control of an Interstate 69 extension project three years after hiring a private developer for it.
On Monday, the Indiana Finance Authority announced the proposed takeover along with the project’s fourth delayed completion date.
Gov. Eric Holcomb says the project remains a priority.
The project is currently being governed by a public-private partnership involving bond holders. I-69 Development Partners was to arrange its own financing to design and build the project. In return, the state would make annual payments to the group to operate and maintain the highway for 35 years after its completion.
Officials say it would take nearly $237 million to complete the extension, which will connect Evansville to Bloomington. The project is now expected to be completed by August 2018.
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