- 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
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