CHARLESTON, S.C. (WCBD) — A plan to put a toll on I-526 could be closer to reality.
On Tuesday, Charleston City Council voted on a resolution to ask the State Transportation Infrastructure Bank to have until the end of the year to develop a plan to cover the shortfall. During that time, the City will see if it can raise half the shortfall from a sales tax increase and the other half a toll road.
The estimated cost of completing the 526 extension across Johns Island and James Island is $725 million. The State Transportation Infrastructure Bank has only $420 million to go to the project. Last week, representative Chip Limehouse said installing toll roads could help cover the difference.
Officials with the State Infrastructure Bank cancelled its upcoming Thursday meeting where 526 was on the agenda. Representatives with the SCTIB say they intend to hold the next meeting May 2.
In an interview, Mayor John Tecklenburg told News 2 that finishing I-526 is extremely important to him, the City, and the County.
“I’ve come to the conclusion that the best we are going to get out of the state is $420 million that they’ve committed to the County and to this project,” Tecklenburg said. “It’s that important to our community to get it done. The County and the City needs to step up to the plate with a specific plan to fund and complete this project and that’s what we’re trying to do,” Tecklenburg added.