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Press Release: Highway Projects Approved by the SCTIB Board

Thu, 07/09/2020

After the SCTIB's Evaluation Committee meeting on July 6, 2020, in which the Committee heard presentations from the project applicants and Board Members meeting on July 7, 2020, the Board Members unanimously approved financial assistance for seven projects. The following financial assistance was recommended:

Applicant

Project

Financial Assistance

Beaufort County

US 278

$120,000,000 (Grant)

Charleston County

Main Road and Bohicket Road

$40,785,500 (Grant)

City of Charleston

US 17/Septima Clark

$21,500,000 (Grant)

Jasper/Hardeeville

I-95, Exit 3

$28,095,903 (Grant)

$28,095,903 (Loan)

Greenville County

Woodruff Road

$49,010,199 (Grant)

York County

I-77, Exit 85

$42,171,050 (Grant)

York County

I-77, Exit 82

$32,486,150 (Grant)

The projects approved were not all of the applications considered by the Evaluation Committee. The SCTIB Board will consider a Phase 2 of pending applications before the end of the year based on the SCTIB's capacity and economic conditions.

In accordance with the SCTIB Act Section 11-43-150 (D), the Bank will submit the decisions to provide grants and/or loans to the applicants listed above to the SCDOT Commission for their consideration. The SCDOT Commission’s next meeting is on July 16, 2020. Also, in accordance with the SCTIB Act Section 11-43-180, the Joint Bond Review Committee (JBRC) must review and approve loans and other financial assistance provided by the Bank. The JBRC's next meeting is scheduled tentatively for August 11, 2020.

South Carolina Transportation Infrastructure Bank Board

955 Park Street

Suite 120B

Columbia, SC 29201

803.737.2825