INDIANAPOLIS (WISH) — The much-discussed final leg of the Interstate 69 extension that’s been under construction since 2008.
Completion of section five — being built between Martinsville and Bloomington — has been delayed by three months, to August of 2018.
Dan Huge, public finance director at the Indiana Finance Authority, had the following to say regarding the change:
In the interest of moving I-69 Section 5 to completion, the IFA has engaged in negotiations with the developer’s bond holders and has made an offer to buy out the bonds and transition the I-69 Section 5 project under the State’s direct management. The developer’s bond holders have not accepted IFA’s offer to date. At this time, the state is moving forward with the goal of assuming control of the project.
In the process of negotiations with developer’s bondholders, the door was opened for IFA and INDOT to discuss the project schedule with various subcontractors working on the project. Based on that expertise, the State is revising the completion date to on or before August 2018. This new completion date will not affect the opening of four continuous lanes of traffic in the greater Bloomington area in August 2017.”