Charleston sues SC to hold on to $420 million for road project
Charleston County is suing the state to keep $420 million slated to be spent to extend Interstate 526.
The S.C. State Infrastructure Bank should not be permitted to spend the money on other projects, the lawsuit against the bank and state Department of Transportation says.
While Charleston County and the Infrastructure Bank publicly battle over whether the I-526 project should be completed, other areas of the state are eying the money for their road needs.
In 2006, the bank, which can issue bonds to raise money to pay for road projects, promised to pay $420 million to extend I-526. Since then, however, the estimated cost of the project — opposed by conservationists and others —has risen to more than $700 million.
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