Post by Logan on Feb 24, 2016 1:19:30 GMT -6
Last year Gov. Mike Pence confidently announced $53.5 million in new building projects to celebrate the state’s 200th birthday.
Now, he’s staring at a $38 million hole in those plans.
That’s because Pence banked on a relatively novel funding strategy: leasing excess space on the state’s 310 cellphone towers. In announcing the plans last year, the governor said the arrangement would bring in up to $50 million, covering virtually all of the bicentennial plans.
But more than a year later, that money has not materialized.
A fiscal note prepared earlier this month by the state’s nonpartisan Legislative Services Agency projects revenue from the cellphone tower leases at $10 million to $12 million over the next 10 years.
Read more: www.indystar.com/story/news/politics/2016/02/23/gov-mike-pences-53m-bicentennial-plans-hit-financial-snag/80821876/
Now, he’s staring at a $38 million hole in those plans.
That’s because Pence banked on a relatively novel funding strategy: leasing excess space on the state’s 310 cellphone towers. In announcing the plans last year, the governor said the arrangement would bring in up to $50 million, covering virtually all of the bicentennial plans.
But more than a year later, that money has not materialized.
A fiscal note prepared earlier this month by the state’s nonpartisan Legislative Services Agency projects revenue from the cellphone tower leases at $10 million to $12 million over the next 10 years.
Read more: www.indystar.com/story/news/politics/2016/02/23/gov-mike-pences-53m-bicentennial-plans-hit-financial-snag/80821876/