I526 funding decision deferred

Local News

Wednesday the SC Joint Bond Review Committee in Columbia deferred granting funding for the State Infrastructure Bank’s $420 million portion to complete Interstate 526.

Committee members were asked to approve the SIB’s $420 million contribution to the I526 Extension project, but they decided to move the matter to a subcommittee without much discussion.

The subcommittee will look into how Charleston County is going to fund its end of the deal. Charleston County expects to spend between $200 and $400 million to fund its portion of the $725 million road project.

Charleston County staff says the money will come from many funding sources, including the transportation sales tax.

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