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Tuesday, June 07, 2016

Ind. Gov't. - "LaPorte, Lake criticize state as toll road sells 10 percent"

Updating this ILB post from March 16, 2015, which was headed "Lake, LaPorte County consortium says state was hostile to Indiana Toll Road bid," the Gary Post-Tribune had a long story yesterday afternoon, reported by Carrie Napoleon, that began:

News that the foreign investor who purchased the lease for the Indiana Toll Road recently sold a 10 percent share of the concession to another entity has local officials again questioning why the state did not accept their 2015 bid for the roadway.

The California Public Employees Retirement fund announced on May 4 the purchase of a 10 percent share of the Indiana Toll Road Concession Co. LLC from IFM Investors in what fund managers described as their first investment into U.S. transportation.

Shaw Friedman, attorney for the LaPorte County Commissioners, said the sale took place less than a year after the Indiana Finance Authority approved the offer by IFM Investors for the purchase of the 157-mile toll road that runs through northern Indiana from the Ohio state line to the Illinois state line.

"It raises the question why the Pence Administration did not seriously attempt taking these assets back," Friedman said.

Posted by Marcia Oddi on June 7, 2016 09:10 AM
Posted to Indiana Government