I-69 Section 5 to go ahead

The Indiana Finance Authority (IFA) and I-69 Development Partners reached financial close on section 5 of I-69 Section 5 from Bloomington to Martinsville. The 142-mile I-69 corridor is divided into six sections. The first three sections opened for business in November 2012 and construction is underway on all 27 miles of I-69 Section 4 between Crane and Bloomington. I-69 Section 5 involves repairing and upgrading 21 miles of the existing, four-lane State Road 37 to interstate standards. I-69 Developmen
July 28, 2014 Read time: 2 mins

The Indiana Finance Authority (IFA) and I-69 Development Partners reached financial close on section 5 of I-69 Section 5 from Bloomington to Martinsville.

The 142-mile I-69 corridor is divided into six sections. The first three sections opened for business in November 2012 and construction is underway on all 27 miles of I-69 Section 4 between Crane and Bloomington.

I-69 Section 5 involves repairing and upgrading 21 miles of the existing, four-lane State Road 37 to interstate standards. I-69 Development Partners expects to begin construction in the Bloomington area this fall and open the 21 new miles of interstate by the end of 2016.

Designated as one of six Corridors of the Future, I-69 will ultimately extend from Mexico to Canada, making it the primary north-south artery for the movement of goods and services in the US.

Earlier this month, the IFA sold nearly US$244 million in private-activity bonds on behalf of the private developer, which will then repay the bond holders directly. I-69 Development Partners is investing more than US$40 million of its own funds and is responsible for all construction costs and the risks associated longer term with the operations and maintenance of I-69 Section 5.

Related Content

  • Meeting the challenges of smartcard fare payment
    July 4, 2012
    David Crawford monitors a growing trend in contactless smartcard ticketing The north east United States has become a hive of activity in the smart fare payment arena. In October 2011, the New York Metropolitan Transportation Authority (MTA) published, as a preliminary to an imminent procurement process, the detailed concept of its New Fare Payment System (NFPS). Based on open payment industry standards, this is designed to be implemented on all MTA bus and subway services operated by New York City Transit (
    Read More
  • ITS projects deliver return on investment
    December 3, 2012
    Light is being shed on where the real return on investment is today – growing, tangible, revenue-generating markets like ITS. There is a great deal of investment going on within the ITS space, and a great deal of external interest in investing in ITS,” says Scott Belcher, President and CEO of ITS America, which has been connecting investors with technology firms ripe for investment. Interested parties include the leading investment banking firm Raymond James. Its managing director, Gary Downing says: “ITS i
    Read More
  • The inside story of how traffic chaos was avoided after I-95 collapse
    August 23, 2023
    June’s collapse of major US roadway I-95 in Pennsylvania could have caused lengthy traffic chaos. But - relatively speaking at least - it didn’t and gridlock was avoided. Alan Dron finds out why
    Read More
  • Why integrated traffic management needs a cohesive approach
    April 10, 2012
    Traffic control is increasingly being viewed as one essential element of a wider ‘system of systems’ – the smart city. Jason Barnes, Jon Masters and David Crawford report on latest ideas and efforts for making cities ‘smarter’ Virtually every element of the fabric and utilitarian operations that make urban areas tick can now be found somewhere in the mix that is the ‘smart city’ agenda. Ideas have expanded and projects pursued in different directions as the rhetoric on making cities ‘smarter’ has grown. App
    Read More

Highlighted Content