CHARLESTON COUNTY, SC (WCSC) - A plan to fund the remainder of the I-526 extension project may soon have a firm deadline.
The South Carolina Transportation Infrastructure Bank will consider a resolution at its meeting on Tuesday that will impose time limits on Charleston County to fund the project to extend I-526 from West Ashley, into Johns Island and James Island.
According to the draft resolution, Charleston County must adopt a binding resolution that outlines the county's plan to fund a $305 to $353 million dollar "shortfall" by March 30. The county must also adopt an enforceable ordinance to implement the plan by Dec. 16.
If Charleston County fails to meet the deadlines, the Transportation Infrastructure Bank can end the project and release reserved financial assistance to other projects.
The bank committed $420 million to the project.
The bank board will meet in Columbia on Tuesday at 2pm.