Northwest Indiana county approves proposed Toll Road lease
CROWN POINT, Ind. (AP) – A northwest Indiana county council and board of commissioners have voted in favor of moving forward with a proposal to try to lease the Indiana Toll Road after the Australian-Spanish consortium that leased it went bankrupt.
The (Munster) Times reports the Lake County Council voted 4-2 Tuesday to join the competition a day after the Lake County Board of Commissioners also approved the proposal. The LaPorte County commissioners approved it earlier. The LaPorte County council still must vote.
Consultants for the proposal say the two counties will create a nonprofit agency to borrow the billions of dollars needed to take control of the highway. The state leased the 157-mile-long highway to an international coalition that became overwhelmed with debt. Creditors are now looking for a new operator.