States Move Forward on Illiana ExpresswayPosted: Updated:
An agreement is in place to finance, build and maintain the proposed Illiana Corridor. The Indiana Department of Transportation says both states will acquire their individual sections and use respective public-private partnership laws to enter into a deal to build and develop the route. The expressway would reach from I-65 in northwest Indiana to I-55 in Illinois. September 24, 2013
INDIANAPOLIS – The Indiana Finance Authority (IFA), the Indiana Department of Transportation (INDOT) and the Illinois Department of Transportation (IDOT) have reached an agreement on how to design, build, finance, operate and maintain the proposed Illiana Corridor project.
The IFA/ INDOT and IDOT will each procure their individual sections of the 47-mile access controlled highway that would extend from I-65 in Indiana to I-55 in Illinois. Both states will use their respective Public-Private Partnership laws to enter into a long-term concession agreement to develop and build the expressway.
Each state expects to issue a Request for Qualifications this fall for private firms who are interested in the project. This will include information about the upcoming Requests for Proposals for the Illiana, as well as the project’s expected commercial and financial timing.
The two states will continue to work together to coordinate schedules, technical provisions and tolling operations. They will also continue to coordinate under the National Environmental Policy Act as required by the federal government.
“We look forward to working with our partners at IDOT on this very important project to the entire region.” said Kendra York, Public Finance Director of the State of Indiana.
“The residents of Chicago’s south suburbs will be thrilled by the benefits the Illiana corridor will bring to the region,” IDOT Secretary Ann Schneider said. “The Illiana project is a ‘win-win’ for both Illinois and Indiana and will result in a reduced financial burden while creating much needed infrastructure. It will save millions for Indiana and Illinois taxpayers while producing huge economic benefits for both states, and that is good news.”
The IFA/INDOT and IDOT plan to begin construction on the Illiana in the spring of 2015. When built, the Illiana Corridor Project will reduce truck traffic on local roads, improving safety, travel times and access to jobs. Beyond the regional benefits for freight and intermodal connections, the Illiana Corridor will provide an opportunity for jobs and economic development. Potential benefits include the creation of more than 9,000 construction jobs and access to more than 25,000 long-term jobs.Source: Indiana Department of Transportation