I-526 funding taking shape

I-526 funding taking shape
February 07 10:55 2017 Print This Article

Charleston County Council will meet tonight at 6:30 pm at 4045 Bridge View Dr. in North Charleston for a second reading of an ordinance to provide $150 Million to fund the completion of I-526, which will connect West Ashley, Johns Island and James Island. While no specific source of funding is mentioned in the ordinance, it states that the funds will be backed by the county’s AAA bond rating.

The measure passed its first reading last Thurs. on a 5-3 vote. Councilmen Herb Sass, Dickie Schweers and Joe Qualey voted against it. Councilman Henry Darby, who is on record as opposing the completion of I-526, was not in attendance.

Another source of funding could come from the Charleston Area Transportation Study Policy Committee (CHATS), which meets Mon., Feb. 13 at 10 am at 1362 McMillan Ave. at the former Navy base. The CHATS committee, consisting of representatives from Berkeley, Charleston and Dorchester counties, will consider committing $195 Million in federal Guideshare funds to the I-526 project.

The South Carolina Transportation Infrastructure Bank (STIB) has withheld $420 Million in funding for the project until Charleston County came up local funding source. The STIB board of directors in expected to meet in March to re-evaluate the project.