MT. PLEASANT, SC – (WCSC) - Patriots Point has until Wednesday to repay a $9.2 million loan, but the development authority says it has no way to pay it.
The authority borrowed the money for repairs to the World War II destroyer, the USS Laffey.
Members said the ship would sink in a hurricane because its hull was leaking.
Patriots Point expected to be able to use federal money to repay the loan, but a clampdown on earmarks and change of control in the U.S. House has few expecting money now.