EDITORIAL
To Be Completed At
Last Bizarre DOT deal shakes loose
millions for NMB connector, MB bridge
The connector and bridge will take
great stress off U.S. 17 and U.S. 501 respectively.
RIDE
Until last week, it was looking as though the last two Road
Improvement Development Projects might remain undone indefinitely.
The State Infrastructure Bank, which is financing the projects with
a two-thirds assist from Horry County hospitality fees, lacked the
$25 million needed to complete the Main Street Connector in North
Myrtle Beach and the $12 million needed to complete the Fantasy
Harbour Bridge in Myrtle Beach. Then, the S.C. Department of
Transportation rode to their rescue with financing for both
projects.
This was no act of largesse. The DOT needs a quick $62 million to
demolish the two Cooper River bridges that soon will be supplanted
by the new Ravenel bridge between Charleston and Mount Pleasant. Our
county would send $25 million in in-hand hospitality fee collections
to that project. In return, the DOT pledged highway money to the
Infrastructure Bank as collateral for bonds for the connector, the
bridge in Horry County and other incomplete S.C. projects. Now, work
on both projects can proceed once site work and demolitions are
completed.
The deal is a bit bizarre, even by Horry County standards. But
hey, whatever works. The connector and bridge will take great stress
off U.S. 17 and U.S. 501 respectively, making traffic flow all along
the Strand much smoother. The sooner they're online, the better. |