Indiana, Illinois Agree on Illiana Corridor Plan
September 24, 2013 — Indiana’s Department of Transportation says Indiana and Illinois have an agreement about plans to proceed with a 47-mile highway project connecting Interstate 65 near Lowell, Indiana to Interstate 55 near Peotone, Illinois.
INDOT, the Indiana Finance Authority (IFA) and the Illinois Department of Transportation (IDOT) announced today they have an agreement about how to design, build, finance, operate and maintain the proposed Illiana Corridor project.
Indiana’s Public Finance Director Kendra York says, “We look forward to working with our partners at IDOT on this very important project to the entire region.”
The announcement says IFA/INDOT and IDOT will each procure their state’s sections of the highway using their respective public-private partnership laws for agreements to develop and build the expressway.
INDOT says, “Each state expects to issue a Request for Qualifications this fall for private firms who are interested in the project. This will include information about the upcoming Requests for Proposals for the Illiana, as well as the project’s expected commercial and financial timing.”
IDOT Secretary Ann Schneider says, “The residents of Chicago’s south suburbs will be thrilled by the benefits the Illiana corridor will bring to the region. The Illiana project is a ‘win-win’ for both Illinois and Indiana and will result in a reduced financial burden while creating much needed infrastructure. It will save millions for Indiana and Illinois taxpayers while producing huge economic benefits for both states, and that is good news.”
IFA/INDOT and IDOT plan to start Illiana construction in 2015, saying, “When built, the Illiana Corridor Project will reduce truck traffic on local roads, improving safety, travel times and access to jobs. Beyond the regional benefits for freight and intermodal connections, the Illiana Corridor will provide an opportunity for jobs and economic development. Potential benefits include the creation of more than 9,000 construction jobs and access to more than 25,000 long-term jobs.”