County Commissioners: 'No Risk' For Toll Road TakeoverPosted: Updated:
Lake and LaPorte County Commissioners say their plan to take over the lease of the Indiana Toll Road will no pose any risk to taxpayers. Our partners at The Times of Northwest Indiana report the counties could be in line for $5 million or more annually from payments and proceeds from the 157-mile highway. Operation of the toll road is up for bid this Spring after international operator ITR Concession Company LLC filed for bankruptcy last year.
The road continues through three other Indiana counties. None of which are part of this bid.
Porter County Commissioner John Evans tells the publication he believes an offer to join the county bidding process will be extended if Lake and LaPorte counties make it through the first round of the bidding process.
If selected as a finalist, the counties would seek approval from the Indiana Finance Authority to issue bonds to be paid back with revenue from tolling after covering operations and maintenance expenses.
Source: The Times of Northwest Indiana