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State Taking Over Troubled I-69 Project From Bloomington To Martinsville

Last updated on Monday, June 19, 2017

(UNDATED) - It’s official; The State Of Indiana is taking over control of the troubled I-69 Section 5 project which runs from Bloomington to Martinsville.

The Indiana Finance Authority (IFA), I-69 Development Partners and its bond holders reached the settlement agreement on Friday.

The Indiana Department of Transportation (INDOT) will take direct control of the project by July 31, 2017.

"I am delighted for Indiana taxpayers that we have reached an agreement for the State to assume control and finish this project," Governor Eric Holcomb said.

This will not increase the overall project cost to taxpayers and may provide the State future savings, according to Public Finance Director Dan Huge. The original cost was approximately $590 million under the public-private structure; the new agreements and structure total approximately $560 million dollars.

Below is a summary of the details of the transaction:

Currently more than 30 subcontractors are working on the roadway, and INDOT says that will continue under their leadership.

Earlier this month, residents and officials expressed their frustrations with the project after the completion date was pushed back for a fourth time to August 2018. City officials in Bloomington have also called the project a "safety concern," citing numerous accidents and injuries amassed on the stretch over the years.

Bloomington Mayor John Hamilton issued this statement:

"It has been my position for some time that the most viable option for getting I-69 Section 5 completed as soon as possible would be for the state to take control of the project. I appreciate Governor Holcomb's commitment to completing Section 5 and I look forward to discussing outcomes with him at our upcoming meeting.

"I remain deeply concerned about traveler and worker safety throughout the construction zone. I urge drivers to continue to use extreme caution and strictly observe all posted advisories and speed limits."

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