The Indiana Finance Authority Board approved selecting I-69 Development Partners to design, build, finance, operate and maintain Section 5 of Interstate 69 at a meeting Wednesday morning. The recommendation for approving the group that will be responsible for the 21-mile section of Interstate between Bloomington and Martinsville now moves on to the State Budget Committee.
The Indiana Finance Authority entered into an agreement with I-69 Development Partners, led by the Spain-based company Isolux Infrastructure Netherlands B.V., last month. The plan was finalized at Wednesday's meeting.
After review by the State Budget Committee, which includes legislators from both the House and Senate, it will be submitted to Gov. Mike Pence for approval.
Both steps are scheduled for next week, said Will Wingfield, Indiana Department of Transportation spokesman, in an email. If both are completed successfully, then the technical terms in the contract would be finalized over a period of weeks before announcing “commercial close," Wingfield said in the email.
Public hearings were required before Wednesday's meeting, one in Bloomington and one in Martinsville. Those in attendance at the Bloomington hearing, which was conducted by INDOT staff members, expressed concern over everything from the Spanish firm selected for the project to a tight timeline for moving it forward.
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