Mitch's Myths - the road to hell is paved with PR
Indy Bypass Toll Road - the latest proposal without a need
Illiana Toll Road - will northern Indiana have any free roads left?
New Terrain I-69 - throwing a billion dollars out the window
Indiana Toll Road - raw deal with lessons for other toll road proposals
"The Highwaymen" -- by Daniel Schulman & James Ridgeway for Mother Jones -- An expose' about the sale of the IN Toll Road by Mitch Daniels -- this is a MUST READ !!
Indiana Toll Road
Running east-west along northern Indiana, the 157 mile Indiana Toll Road connects the Ohio Turnpike and the Chicago Skyway. This is a major route for the truck transportation of goods through Indiana.
A Little History
In 2006, the state Legislature granted Governor Mitch Daniels the authority to enter into a privatization agreement with Cintra-Macquarie to lease the Indiana Toll Road for 75 years.
The agreement also has a provision that allows Cintra-Macquarie to be compensated if other road upgrades or any action by the state reduces the income from the toll road.
INDOT and the Indiana Finance Authority are currently in the midst of a public comment period regarding their current proposal to raise tolls on the Indiana Toll Road. They estimate that 10,000 Indiana small businesses will bare an annual economic impact totally about $1 million in year 1 and an addition $160,000 in each of the years 2 through 4.
Future toll increases are limited to the greater of 2%, the annual increase in the Consumer Price Index or the annual growth in per capital GDP. Cintra-Macquarie can recoup the cumulative increases once the 10 year toll freeze for commuters living along the Indiana Toll Road is over.
Profitable Venture - for Cintra-Macquarie
Macquarie reported to its investors that its investment will be returned within 15 years. The expected annual return is between 12.5% and 13.5%. The Indiana Toll Road cost them $3.6 billion. Toll payers are expected to pay an estimated $120 billion over the 75 year lease period.
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