Deadline looms for I-526 completion project

CHARLESTON COUNTY, SC (WCBD) — In July, officials met with the state infrastructure bank to discuss undoing the contract of plans for I-526.

It’s a project affecting hundreds of millions of tax dollars.

The State Infrastructure Bank Board (SIB) unanimously approved to extend the deadline for moving forward with the I-526 project to September 13, 2016.

Now that the deadline is about 20 days away, News 2 contacted officials for an update. Although County Council Chairman Elliott Summey was unavailable for comment, a county spokesperson said if any meetings have taken place between the last public meeting, it was with officials and lawyers to discus legal details.

Back in May, the bank voted to shut down the project, because Charleston County did not have enough money to fund it.

The project was revitalized when county councilmen tried to put I-526 on a list to be funded by an additional half cent sales tax, but that effort was unsuccessful.

The total project costs roughly $725 million. The SIB board said it will give about $420 million, if the county comes up with a plan to fund some of the project, too.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s