Brought to you by WBIW News and Network Indiana
Last updated on Thursday, December 13, 2012
(UNDATED) - A new study concludes the state’s decision to lease the Indiana Toll Road to a private operator was a bad deal for taxpayers.
Indiana received $3.8 billion for leasing the toll road to a private consortium for 75 years. That money helped pay for major work on state highways including the now opened section of the new 1-69 extension from Evansville to Crane through southwest Indiana.
But a public policy expert says taxpayers will pay the price for the 2006 deal in lost toll road revenue that otherwise would have gone into the state treasury.
A state highway official defends the deal, saying taxpayers won't have to pay for more than $4 billion in toll road infrastructure costs because they'll fall to the operator instead of Indiana, and ITR Concession Co. has already invested more than $300 in improvements.
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