Indiana News

2 Counties Continuing Effort to Lease Indiana Toll Road

MUNSTER, Ind. (AP) – Two northern Indiana counties plan to form a board of directors that would enable them to proceed with their bid to lease the bankrupt Indiana Toll Road.

The Times of Munster reports ( ) Lake County Commissioner Roosevelt Allen told a Northwestern Indiana Regional Planning Commission committee that his county along with LaPorte County are preparing to finalize their offer.

Investment bank Piper Jaffray & Co. of Minneapolis delivered a report in November to LaPorte County that demonstrated Toll Road cash flow could support a public entity bid by producing $38 million to $53 million a year after operating and maintenance expenses.

At a hearing in federal bankruptcy court last month, lawyers for the Toll Road's bankrupt operator said many parties are interested in bidding for the Toll Road.

  Information from: The Times,

Related posts

House Public Policy Chair Dermony won’t Seek Re-Election

Dean Jackson

Proposed house bill would pay wrongfully incarcerated Hoosiers

Heather Starr

Indiana’s top court weighing challenge to state abortion ban

AP News