The State Infrastructure Bank (SIB) board will hold a meeting on the much-debated Interstate 526 project next month.
According to the Charleston Post and Courier, the board will meet in Columbia on Dec. 14. It had been scheduled for Oct. 6, but was postponed by Hurricane Matthew.
The state board has set aside $420 million for the project, but an intergovernmental agreement requires the county to make the difference between that and the now-estimated $725 million. It’s still not clear if the plan to partially build the project would get federal approval. That approval would require Charleston County to prove they could come up with the money for the entire project.
The bank board voted to close the books on the project in May after Charleston County officials did not come up with a funding plan for the $300 million more needed.
Board member and retiring State Rep. Chip Limehouse, R-Charleston, told the newspaper that he think it’s vital to get the project started now if it’s going to be built. If not now, he said it will take two decades just to get back to where it is today.
The interstate would connect I-526’s current western terminus in West Ashley with downtown Charleston by a route across Johns and James islands.