COLUMBIA -- The widening of U.S. 17 will move ahead regardless of whether Beaufort and Colleton counties help pay for it, state officials decided Thursday when they approved a $150 million financing plan.

The Transportation Department has fast-tracked its efforts to widen the dangerous 22-mile stretch that has been the site of 34 traffic deaths since 1997. If financing is secured, construction on the widening could begin in February.

The plan approved by the state Transportation Commission on Thursday includes a $90 million grant and $48 million loan from the State Infrastructure Bank, a state bonding and financing agency for large capital projects. What's not included is the $26 million state officials asked Beaufort and Colleton to pick up.

Last month, Transportation Department officials proposed that Beaufort and Colleton counties and the Lowcountry Council of Governments collectively contribute about $1.3 million a year for 20 years to help pay off the construction debt.

But the proposal was met with consternation by local officials with few options for fundraising short of property tax hikes.

By promising Thursday to commit up to $5 million from the department's budget for the annual debt payments, Transportation Commissioner John Hardee said the department is making it clear the project will move forward regardless of the local governments' ability to contribute.

"Let's move ahead with it and if they can contribute, we'll deduct it from (the department's commitment)," he said.

Beaufort and Colleton officials are expected to meet today to discuss potential contributions. The Beaufort County Council has contributed $2 million to the widening effort through a developer fee.

A Colleton County proposal to widen S.C. 64 instead of U.S. 17 was rejected Thursday by the commission, with staff citing a study from the 1990s that found it an unreasonable alternative. But staff were instructed to weigh the need to widen the road as a separate project.

Commission members also said they were concerned about the State Infrastructure Bank application expected to be submitted by Oct. 1, asking staff to seek out alternatives.

"The amount we're asking for would be a huge stretch for the infrastructure bank," said Commission Chairman Tee Hooper.

The bonding agency has about $130 million available for capital projects.

The department has previously said the cost for the road widening could reach $200 million, but planners believe the project likely can be completed with $150 million.

With Beaufort's contribution, other allocations already made for the project include:

$10 million earmarked in the recent six-year federal highway bill;

$13.3 million in federal funds to replace the Combahee River Bridge; and

$700,000 in state intersection improvement funds to refit the S.C. 64 intersection.

The department also announced it will perform a speed study of U.S. 17 to determine if increased enforcement is again necessary on the road.

Six state Highway Patrol troopers were dedicated to the strip in July after a string of five fatalities, but enforcement has decreased since then and the department has received complaints of speeding.

Another short-term safety improvement, laying rumble strips to alert drivers if they cross the centerline, began Wednesday night. The work is expected to take 30 days.

Also Thursday, commission members reported that Transportation Department spending will likely be strapped with the federal highway bill signed by the president last month providing less money for South Carolina than expected.

Transportation Department Executive Director Elizabeth Mabry said the state would likely be in worse shape if it hadn't received its earmarks, including $10 million for the U.S. 17 widening and $26.6 million for U.S. 278 improvements.

Although the state's allotment is still being determined, South Carolina could lose $50 million to $70 million in the six-year spending plan said Keith Bishop, the department's finance director.