Government officials announced Friday the state will take control of the I-69 project.
The announcement was made in light of repeated delays on section 5 of the project that stretches between Bloomington and Martinsville.
"In addition to the construction of the project, the state will also take over all the operations, maintenance, life cycle costs of the project, with the road now being half built, have completed, many of the risks have been identified,” said Dan Huge, Indiana Public Finance Director.
The decision comes three years after the state hired a private contractor to complete the work. State officials said the takeover won’t increase the overall cost to taxpayers.
The takeover agreement said I-69 development partners will pay $50 million to the state and the state will issue its own bonds to replace what the developer owes to bond holders.
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