A South Carolina transportation funding agency indicated Thursday it no longer sees a viable path forward for finishing the Interstate 526 project outside Charleston.
The Transportation Infrastructure Bank’s board voted 4-1 to begin terminating the long-stalled project that would link the highway’s current end in West Ashley with downtown Charleston. Board members had given Charleston County a March 30 deadline to come up with a plan to fund its share of the project. But the county’s plan did not have specifics on how it would raise the massive amount of money needed, beyond a possible increase in the gas tax or making I-526 a toll road.
Lowcountry elected officials making the eleventh-hour pitch on behalf of I-526 expressed frustration after the vote. Charleston Mayor John Tecklenburg expressed frustration that the Infrastructure Bank had repeatedly changed its requirements for the more than $720 million project.