South Carolina State Ports Authority Update

  • Members of the Transportation & Finance Committees met with members of the SC Ports Authority on Wednesday, March 26th. Below are highlights:

Harbor Deepening = $2.4 million Requested This Session for State Match-Corps Preparing to Close Out Project-$7.03 million in Carry Forward Funds-Approximately $7.9 million in Additional State Funding Needed Beyond Carry Forward FundsRequest for Proviso Change – Update Year in Ravenel Bridge Proviso

-To-date, SCSPA Has Paid $25 million of $45 million Commitment

-Twenty (20) $1 million Payments Remaining (FY08-27)

Charleston Port Development Update

-Status – Permits in Hand; 171-Acre Phase I is Underway; Demolition and Detention Pond Work Already Started

-Terminal Will Be Internally Financed Without Any Taxpayer Dollars or Taxpayer-Backed Debt

-Port Access Road – Permitted; State/Federal Funding Totals $182.5 million

-$167.5 million in Contingency Reserve Funds Appropriated Last Year to SCSPA – Held by Treasurer

Jasper Project – Intergovernmental Agreement

-Joint Project Office (JPO) Formed; Consists of a Six-member Board plus Four Ex-Officio

-Effectively Ends Condemnation; Land To Be Jointly Owned; Initiates Easement Work Along with Environmental and Market Analysis

-Eventually Result in Bi-state Compact; Will Require Approval of Legislatures/Congress

Port Royal Sale

-Properties Back on the Market Following Termination of Pending Contract

NAI Avant will Continue to Market the Property