Toll Road Lease Signed

The Indiana Finance Authority and ITR Concession Company LLC, the joint venture formed by Cintra and Macquarie, today executed the lease agreement for the Indiana Toll Road. According to a news release from the Governor's office, the parties will now move toward closure of the $3.8 billion, 75-year Toll Road lease by June 30. The lease includes an addendum, which provides for:

• a “toll freeze” for passenger vehicles at current rates until electronic tolling is put in place;
• a 40 percent discount through June 30, 2016, for passenger vehicles utilizing electronic tolling;
• and continuation of commuter discount cards until the availability of electronic tolling.