The State Infrastructure Bank says the Charleston County Council has 60 days to pay $12 million for the completion of Lowcountry Interstate-526. The State Infrastructure Bank loaned Charleston County the $12 million for an I-526 completion project. Now that the county has decided they are not going to build it, the bank wants its money back.
Charleston County Councilman Dickie Shweers opposes the building of an I-526 extension and says the State Infrastructure Bank is not the final word on whether the council has to pay back the money.
That was their opinion, that we should pay that money back. They say that we are in default. That, if it comes to it, would have to be decided by a court.
On the other side–Council Chair Teddy Pryor is in favor of the project and responded to Shweers’ comments.. saying the council is on the hook for that money and he doesn’t understand what Shweers is saying.
Either he has amnesia or wasn’t paying attention when several weeks ago the administrator came to us. And, this is what he told us: If we had to move this money out of our general operating budget we would have to lay-off anywhere from 150 to 200 non-essential employees.
Some Charleston County leaders asked for the money to go toward other road projects in the county, instead of the I-526 completion.