In 2005, one-year into his administration, Governor Mitch Daniels unveiled the Major Moves initiative, a 10-year, $10.6 billion transportation plan to build and improve roads, comprising nearly 200 projects around the state. A fundamental component of the plan was the possible lease of the ITR, which was estimated to be capable of providing over $1 billion in funding for the Major Moves program. The state's plans for the ITR emulated the $1.83 billion lease of the neighboring Chicago Skyway in 2004.
In early 2005, Governor Daniels tasked the IFA with exploring the feasibility of leasing the ITR. IFA hired a financial adviser and conducted detailed traffic and revenue forecasts so that it could determine the value of the ITR. INDOT was incurring millions of dollars in annual costs to operate and maintain the ITR. These costs were generally offset by toll revenue, but INDOT also borrowed money to complete capital improvements on the ITR, and toll proceeds were not adequate to cover the resulting debt obligations. At the time IFA was assessing leasing options, INDOT faced a significant capital and maintenance backlog. In addition to providing funding for the Major Moves projects, leasing the ITR would lower the state's ongoing financial obligations, as well as associated risks.
Many state lawmakers opposed the ITR lease because of the expected toll increases that would follow. Concerns also arose that the facility would be sold "at a discount" and road quality and operations would suffer.