Infrastructure Bank Coverage

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Bank Board Approves "Phase 2" of Applications

The SC Transportation Infrastructure Bank (STIB) Board met on Thursday to approve a “Phase 2” of projects pending from the first round of awards made in 2020. The actions taken at the full Board meeting came after a lengthy Evaluation Committee meeting held earlier in the day.

The Evaluation Committee consists of STIB Board members, including Chairman John White, Ernest Duncan, Chip Limehouse, and David Shehan. Brent Rewis (non-voting) serves on the Committee as the SCDOT representative.

While the Committee spent a significant amount of time in Executive Session, there was much discussion of the seven projects for consideration. Ultimately, the full STIB Board approved grant funding for four projects, and three were carried over. Details are outlined below:

APPROVED PROJECTS

SC 41 – Charleston County

Total Project Cost: Approximately $187 million

Score: 91.15

STIB Funding: $62,193,500

Whiskey Road Connector – City of Aiken

Total Project Cost: Approximately $37 million

Score: 80.25

STIB Funding: $20,841,867

SC Hwy 246 – Greenwood County

Total Project Cost: Approximately $50 million

Score: 65

STIB Funding: $38,000,000

I-77 Exit 90 – York County

Total Project Cost: Approximately $85.8 million

Score:65

STIB Funding: $64,354,500

"Carryover" Projects

Low Battery Sea Wall – City of Charleston

This project received a score of 50. The minimum score is 65 for projects to receive funding. There were also concerns about eligibility.

During the Evaluation Committee, STIB staff noted that the wall was technically not a “transportation project” and was not eligible for funding. However, Chip Limehouse said that the Sea Wall was indeed a “transportation project” because the wall served as the primary support for the sidewalk and road adjacent to the Harbor. Limehouse said he hoped the City would push the local MPO/COG to score the project to help increase the overall STIB score.

US Hwy 601 (Multiple Projects) - Orangeburg County

The Evaluation Committee noted that they had trouble getting information on the projects. However, they recognized the importance of the projects for the rural county and opted to carry the application over to get more information.

You will recall that Orangeburg County combined projects because the original project did not meet the $25 million threshold; therefore, they added additional projects to the application.

SC 183 – Pickens County

The Evaluation Committee noted that the project received a score of 44.25, which did not meet the minimum requirements for funding. The low score was partially attributed to the absence of a local MPO/COG score.

The Committee recognized the importance of the project and identified issues that may arise because Pickens County technically doesn’t qualify as a “rural” under the new rural application program. (Rural is defined as a population of <115,000.) Therefore, they would look for ways Pickens County could increase the overall score.

Dorchester County Requests Amendment for Existing Funds

The STIB Board also approved changes requested by Dorchester County to amend an existing intergovernmental agreement (IGA) to allow for $400,000 of funding (from a prior $4 million grant previously awarded to the County) to be used for additional work related to US 78.

The County will be responsible for $16.5 million for additional work related to the project, which they plan to fund using sales tax revenues from the upcoming November referendum.

Rural County Application Program Coming Soon

STIB Board members adopted a resolution to implement a rural county application program in the future (likely 2023). You will recall that the Joint Bond Review Committee (JBRC) appointed a special subcommittee in 2020 to assess the accessibility of rural counties to STIB funding. Based on the testimony received during that process, the STIB adopted the basis for a rural county program in 2021.

STIB Unveils New Project Dashboard

A new resource on the STIB website provides an interactive look at projects and allocated funds. Click here to view.

Prior to adjournment of the STIB Board meeting, Chairman White said he expects the Board to meet again this fall.

2022 has been a winning year for South Carolina's infrastructure. Ensuring state leaders continue to deliver favorable policies and sustainable funding mechanisms for our roads and bridges must be a team effort.

Please make plans to join us for our 2022 Annual Meeting. The agenda is in the works; however, we encourage you to take advantage of the sponsorship opportunities available.

Confirm your sponsorship early to receive maximum exposure as we promote the meeting. Sponsorship and registration details are linked below. If you have questions, please contact Jennifer Patterson via email at jennifer@scfor.org or phone at (803) 417-6256.

Sponsorship & Registration

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