An Illinois public interest organization is raising concerns about the proposed Illiana Expressway, saying the privatized toll road that would serve mainly as a trucking corridor "may charge tolls too high to attract trucks, and will likely require hundreds of millions of dollars in taxpayer subsidies."
The Illiana Expressway, a public-private partnership endeavor, is cited as one of 11 highway "boondoggles" across the country in a new report by the Illinois PIRG Education Fund, which is calling on "decision makers to reprioritize scarce transportation dollars to other projects."
The report highlights the proposed 47-mile Illiana tollway, which would connect I-55 in Illinois to I-65 in Indiana, as an example of "wasteful highway spending based on its outdated assumptions of ever-increasing driving."
"The Illiana Expressway is based on the presumption that traffic in the 18 county region affected by the road will increase by .92 percent annually between 2010 and 2040, as measured in total vehicle miles traveled (VMT)," the Illinois PIRG Education Fund noted. "However, that is more than double the annual rate of increase from 2001 and 2010 (.42 percent). And, since 2010, VMT in the region has been down .49 percent annually."
The Chicago City Council's Progressive Reform Caucus has joined the call for an end to the interest-rate swap agreements the city and Chicago Public Schools have with banks and private investment firms, including Bank of America and Loop Capital.