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Tuesday, January 04, 2005

Indiana Government - Toll Road for sale?

"For sale? Daniels' idea to sell Toll Road fires debate" is the headline to this story today in the South Bend Tribune. Some quotes:

INDIANAPOLIS -- With the state facing a $600 million budget deficit, Gov.-elect Mitch Daniels is mulling plans to sell the Indiana Toll Road to private interests -- a proposal that could generate billions of dollars.

But it's unclear whether lawmakers in northern Indiana will support the controversial idea, because some extra toll revenue is used to finance important projects in their districts.

Daniels' plan to sell the Toll Road -- also known as Interstate 80/90 -- comes only months after the city of Chicago signed a 99-year lease giving control of the Chicago Skyway to an Australian and Spanish consortium. * * *

Daniels said Monday he hasn't ordered a feasibility study of a possible Indiana Toll Road sale. But he said all department heads will assemble an inventory of state assets under their purview and report candidates for possible sale or divestiture.

Daniels said those assets range from vehicles to "major infrastructure" that could be sold to generate income for other important purposes, such as highway construction, the Gary/Chicago International Airport expansion and possible expansion of Indiana ports.

"We've got a major shortfall between the amount of money available and the infrastructure needs of this state," he said. "So we're going to look at every option, from tolling, to asset sales ... everything that might give us some new money to invest in these kinds of projects." * * *

When asked whether any state assets should be sacred, Daniels said "yes."

"There are all sorts of assets that ought to be held forever in public hands," he said "Parks, for instance. But creative governments all over America, and frankly, all over the world, have come to realize there are sometimes better ways to do the people's business than to tie up large amounts of money in bricks and mortar and other assets, when that money could be doing new things."

Posted by Marcia Oddi on January 4, 2005 02:30 PM
Posted to Indiana Government