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Thursday, May 5, 2016

Next governor won't see much toll money

Sunday, May 13, 2012

INDIANAPOLIS (AP) -- As Republican Gov. Mitch Daniels' tenure winds down, it's unclear what kind of financial situation his successor will find for highway projects.

The $3.8 billion that Indiana netted in 2006 from leasing the Indiana Toll Road to a foreign consortium will be mostly spent or allocated by the time the state's next governor takes office in January, the Journal-Gazette reported Sunday.

In recent years, the Indiana Department of Transportation has been spending more than a billion dollars annually on highway needs -- some from the lease proceeds, the rest from federal and state gas taxes. But that level of spending will drop dramatically when the Toll Road money is gone.

Jack Basso, director of Program Finance and Management at the American Association of State Highway and Transportation Officials, said Indiana will soon be as cash-strapped as other states and with few options on the table.

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