UPDATE: During an update Wednesday morning, Sen. Hugh Leatherman wouldn’t allow the Joint Bond Review Committee, JBRC, to vote on the I-526 extension approval.
Charleston County Council Chairman Elliott Summey said Sen. Leatherman did not give a reason on that decision.
We are following this story and will provide an update when we learn more.
CHARLESTON COUNTY, S.C. (WCBD) – The fight continues to complete I-526. Charleston County and the State Infrastructure Bank are figuring out how to pay for its completion. Right now, it stops at Savannah Highway in West Ashley, but the stretch of interstate is supposed to continue onto Johns and James Islands.
A special subcommittee was created to study Charleston County’s ability to pay its portion.
Senators Alexander and Campbell, and Representatives Stavrinakis and Simrill, were appointed to study funding requirements and proposed sources for the County’s $305 million commitment under the amended agreement.
The subcommittee is expected to give an update at Wednesday’s Joint Bond Review Committee meeting at 9:00 a.m.
In February, the JBRC deferred action on a request from the South Carolina State Infrastructure Bank and Charleston County. This put the SIB’s $420 million commitment and the issuance of bonds for Charleston County’s portion of the project on hold.
News 2 spoke with a member of The State Infrastructure Bank who says, “This has been a long road but at the end of the day, Governor McMaster is committed, I’m committed, the county is committed…we’re going to have 526”.
This is a developing story.