STIB Approves Seven Projects
The State Transportation Infrastructure Bank (STIB) Evaluation Committee met Monday to review pending 2019 applications. The Bank received 12 applications in 2019, and representatives from each City/County briefly presented overviews of their proposed projects. Ultimately, the Committee selected seven projects which moved to the full STIB Board for approval on Tuesday.
STIB Chairman John White said that due to the economic impacts of COVID-19, the Bank’s capacity had been reduced to $490 million. This is a $170 million reduction from last year.
Because of the economic turmoil, the STIB Board approved the Evaluation Committee’s recommendation to award projects in two phases, using up to 75% of capacity in Phase 1. The seven projects approved by the STIB for Phase 1 are outlined below.
- $120 million to upgrade/replace the 278 bridge on to Hilton Head Island
- $75 million to upgrade two interchanges on I-77 in York County. These are part of the Carolina Panthers project
- $49 million go relieve traffic on Woodruff Road in Greenville.
- $41 million to upgrade Main and Bohicket roads in Charleston, and
- $21.5 million to help with drainage along septimal clark parway in Charleston (Lot of flooding issues)
This step was the major hurdle for the projects to clear. DOT must approve as well as a General Assembly Panel but all indications are that both will adopt what the SIB passed out.