Extortion! That is what the State Infrastructure Bank (SIB) Board is attempting to commit when they are demanding $11.6 million from Charleston County.
The county rightly listened to the opposition to the I-526 extension and determined that it should not commit to spending nearly a half billion dollars on a project that was not publicly supported.
Additionally, there is a shortfall of nearly $70 million that will have to be made up from somewhere if the project proceeds as planned; this is very important as South Carolina struggles with budget issues.
The SIB board will be able to serve the public better by using the funds on other needy projects, save the $70 million debt that the project would incur, and follow the public’s mandate — if it quits acting like a thug and moves on to other pressing state needs.
South Shore Drive