I-69 Developer Resumes Work on Highway Project
Work resumes after the company halted operations after failing to get paid for their work.
📅 Fri October 07, 2016 - Midwest Edition #21
The project's completion date has been pushed back four months to Oct. 2017.
BLOOMINGTON, Ind. (AP) Subcontractors have resumed work on an Interstate 69 project after halting operations due to lack of payment.
Crider & Crider Inc. returned to work on Sept. 19.
In 2014, I-69 Development Partners LLC, led by Dutch-based Isolux Infrastructure Netherlands, was hired to upgrade 21 mi. (33.8 km) of the current Indiana 37 route between Bloomington and Martinsville, with the state paying $80 million up front and making annual payments of $21.8 million a year for 35 years, with possible adjustments for inflation.
Crider, which is responsible for the project's earth-moving operations, was owed more than $2.3 million. A non-performance notice the Indiana Finance Authority sent to I-69 Development Partners on Sept. 6 said more than $9 million was owed to highway construction contractors. The finance authority sold nearly $244 million worth of tax-exempt private activity bonds on behalf of I-69 Development Partners in July 2014 to help finance the project. The funds are kept in a trust and are released to I-69 Development Partners on a monthly basis. I-69 Development Partners then uses that money to pay Isolux.
Company president Steve Crider says some payments have been made, but money is still owed to his company. Harold Force, president and CEO of Force Construction, said payments to his company are not up to date, but crews have continued working. The project's completion date has been pushed back four months to Oct. 2017.
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