Indiana Will Have Less Money For Road Projects

By Daniela Salvador

Indiana Will Have Less Money For Road Projects

May 14, 2012 Updated May 14, 2012 at 1:34 PM EDT

Indiana (Indiana’s NewsCenter)-It is unclear what will the successor of Gov. Mitch Daniels will do as far as funding for highway projects.

The $3.8 billion that Indiana had in 2006 from leasing the Indiana Toll Road to a foreign consortium will be mostly spent or allocated by the time the state's next governor takes office in January, the Fort Wayne Journal-Gazette reported Sunday.

Over the years, the Indiana Department of Transportation has been spending more than a billion dollars annually on highway needs.

Director of Program Finance and Management at the American Association of State Highway and Transportation Officials, Jack Basso, said Indiana will soon be as low on cash as other states and with few options on the table.

"The next governor is going to have to face the reality that the money isn't going to materialize out of the air," Basso said.

By the time Daniels' successor takes office in January, some of the Toll Road money will still be earning interest. However, it all will be virtually awarded, via contract, for ongoing major highway projects slated to finish within the next two years.

State Rep. Win Moses, D-Fort Wayne, said road construction projects are recurring and won't stop just because the money is not available. He said that funding will definitely be an issue in the upcoming election.

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