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 (http://bit.ly/1DfMfRA ) 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, http://www.thetimesonline.com

Related posts

State Board considering changes to school grading system

Darrin Wright

House Leader Unsure of Sunday Alcohol Sales Bill Prospects

Kayla Blakeslee

Indiana adds 362 more cases of COVID-19, 3 additional deaths

Heather Starr