SC Transportation Infrastructure Bank Approves Road Funding Plan

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The SC Transportation Infrastructure Bank (SCTIB) Board met last week and unanimously approved a final list of projects to be funded with the money the legislature approved this past June. Carolinas AGC reports option three, which is spelled out below, was approved with an amendment that requires SCDOT to submit a list of projects for approval on the use of the $6M granted for preliminary engineering.

Option three is a hybrid of the other two options and actually gets the ball moving on several other projects by getting the preliminary engineering started. The Joint Bond Review Committee now has to give final approval to this same plan and they are scheduled to meet Dec 4 at 10:30 at the State House.

As approved by the SCTIB, the following plan is listed below:

•    I-85/385 Interchange (Greenville Co/4.3 miles/SCDOT providing $140 million), Act 114 Interstate Interchange Priority List Project No.2, not to exceed $80 million (SCDOT has assured SCTIB that it has adequate funding for project and the $20 million reallocation set forth below will have no impact on this project in any way);

•   1-20 Widening (Lexington Co./10.3 miles) from US 378 to S-204/Longs Pond Rd., Act 114 Interstate Priority List Project No. 9. Not to exceed $154, 701, 000.);

•   I-85 Widening (Spartanburg & Cherokee Cos./16 miles), Phases I and II, from Gossette Rd./S-57 to SC 18, Act114 Interstate Priority List Project No.18, not to exceed $262 million ($171 million unavailable at present for Phase III to North Carolina state line);

•   I-77 Widening (Richland Co./2.6 miles ) from I-20 to SC 277, Act 114 Interstate Priority List Project No. 15, not to exceed $38,701,000;

•   Fund not to exceed $10 million for preliminary engineering for malfunction junction (Richland/Lexington Cos./4.98 miles), the No 1 unfunded project on Act 114 Interstate Priority List and the No. 1 project Act 114 Interstate Interchange Priority List, (1) to advance it to be shovel-ready to receive state and federal funds at the earliest possible time;  (2) fund not to exceed $4 million for preliminary engineering for Phase III of the I-85 (12.36 miles) widening to the North Carolina line to advance it to be shovel-ready to receive state and federal funds at the earliest possible time; (3) fund not to exceed $6 million for preliminary engineering for critical interstate projects, or phases of such projects, selected by SCDOT from an interstate improvement master plan developed to advance Act 114 Interstate Priority List projects to be shovel-ready to receive state and federal funds at the earliest possible time; and (4) requires SCDOT to submit the list of projects for approval on the use of the $6M granted for preliminary engineering to the SCTIB for approval. (Item total not to exceed $20 million).

Total: $550 million (SCDOT to control project construction costs as needed so as not to exceed $550 million).  Read More.