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State Infrastructure Bank meeting to address 526 canceled - Live5News.com | Charleston, SC | News, Weather, Sports

State Infrastructure Bank meeting to address 526 canceled

Source: AP/Live 5 Source: AP/Live 5
CHARLESTON COUNTY, SC (WCSC) -

A South Carolina Transportation Infrastructure Bank meeting scheduled for Thursday has been canceled. 

The meeting was to review Charleston County’s resolution regarding its plan to fund the I-526 extension project.

Board Chairman Vince Graham said another meeting on Thursday is expected to run long. The new meeting date is scheduled tentatively for May 2. 

Earlier this month at a council meeting, the county announced a plan with nine options to try and fund the $350 million needed.

The county is exploring options including a toll road, a transportation sales tax referendum or other local, state and federal funding sources, including the City of Charleston.

The SCTIB has set aside $420 million for the project, but that money could be taken away if the County can't come up with the rest of the $350 million to complete 526.

The 526 completion project would extend the highway onto both Johns and James Islands.

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