A private development team the state chose to construct Interstate 69 Section 5 from Bloomington to Martinsville thinks it can build the 21 miles of road for $325 million — unless you factor in costs like bond interest and maintenance.
Include those line items in the price tag, and the team of companies expects to spend $379 million.
The difference in estimates is detailed in a financial proposal sent to the state by I-69 Development Partners. That’s the group headed by Isolux Infrastructure that Indiana tabbed in February to build I-69 Section 5.
But it’s a cost difference seemingly stemming more from accounting conventions than sleight of hand.
I-69 Development Partners included a cost breakdown with items such as $300,000 for Indiana sales and use taxes. The state doesn’t typically include all of those items when it quotes a project’s capital cost, according to Indiana Department of Transportation spokesman Will Wingfield.
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