I-69 Extension Delayed Again, State Looks For Takeover
The portion of Interstate 69 connecting Bloomington to Martinsville has been delayed yet again. Our partners at WTHR report the 21-mile stretch of road is now set to be complete in August 2018 as the state looks to take over the project.
The Indiana Finance Authority says $237 million is needed to complete construction and resolve contractor claims for the project. However, only $72 million is available, according to the station. IFA Director Dan Huge released a statement saying the state has made an offer to the buy out the bonds from the developer’s bond holders.
"The good news is that work will continue during these negotiations and we have made it crystal clear that finishing I-69 Section 5 and finishing the complete 69 is a top priority with my administration," Governor Eric Holcomb said Monday. "So we’re focused on getting the job done."
If accepted, direct management of the project will transition from I-69 Development Partners at its design contractor, Isolux Corsan, to the state. The IFA says, while the offer has not yet been accepted, it is moving forward assuming it will be.
The most recent delay of the project came in February when it was expected to be complete in May 2018. The project was originally scheduled for completion in October 2016.