Subcontractors Resume Work on I-69 Project in Indiana

Associated Press reports, “Subcontractors have resumed work on an Interstate 69 project after halting operations earlier this month due to lack of payment.” The report adds, “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 report notes, “In the wake of the delays, two credit agencies have downgraded ratings on the bonds issued to help finance the project.”