Skip to main content

Southern Connector (I-185) default leads to concerns over Interstate 73 plans

The recent default on debt service by the privately operated Greenville Southern Connector (Toll Interstate 185) has led some South Carolina legislators concerned that a private-public partnership for construction of Interstate 73 in northeastern South Carolina.

On January 1, the Connector 2000 Association defaulted on debt service.  They are currently trying to negotiatie with creditors on losses and repayments.  The SC Legislature recently voted down an ammendment that would have allowed the Connector 2000 Association to renegotiate terms and restructure their bonds.  The ammendment failed by a vote of 46 to 59. 

The concern of most legislature is that SCDOT would become responsible for any of the losses on the road, specifically if Connector 2000 Association and the Southern Connector goes bankrupt.

With one of the possible financing solutions for building Interstate 73 a public-private partnership, some legislators, such as Ken Kennedy, are concerned that the same thing will happen with I-73.

The amendment to fix the Southern Connector was to be added to a larger bill that would allow SCDOT to search for and enter a public-partnership agreement for construction of Interstate 73 and other new highways.  If approved, any new roads with this financing would most likely be tolled.

The public-private partnership issue for future highway construction in South Carolina has been under debate
 in the SC legislature since last year.

Story Links:
House rejects Southern Connector bond revamp, discusses I-73 ---South Carolina Radio Network w/ audio.

Comments

Popular posts from this blog

New River Gorge National River Area To Become A National Park

Great news for those that enjoy National Parks, West Virginia's New River Gorge Region, or West Virginia tourism.  Included within the Fiscal Year 2021 Omnibus Appropriations Bill signed by President Trump last night (December 27th) is the New River Gorge Park and Preserve Designation Act.   The act will designate the existing New River National River and over 72,000 acres of land within it as a National Park and Preserve. The New River Gorge Bridge will continue to be the centerpiece of the new New River Gorge National Park and Preserve. (Adam Prince, 2007) The river and surrounding land, which was added to the National Park System in 1978, will be our 63rd National Park.   The designation preserves over 7,000 acres as a National Park.  This area will not allow any hunting.  The remaining 65,000 acres of the existing park will be designated as a preserve allowing hunting and fishing. The main attractions to the New River Gorge - whitewater rafting, camping, hiking, mountain bikin

Douglas Memorial Bridge; the ruins of US Route 101 and the Redwood Highway over the Klamath River

Near the village of Klamath in southern Del Norte County, California sits the ruins of Douglas Memorial Bridge which once carried US Route 101 and the Redwood Highway over the Klamath River.  The Douglas Memorial Bridge was a arch concrete span which once crossed the Klamath River.  The Douglas Memorial Bridge was noted for it's unique grizzly bear statues which still adorn the remains of the structure.  Completed in 1926 the Douglas Memorial Bridge was the original alignment of US Route 101 ("US 101") and stood until it was destroyed by the Christmas Floods of 1964.  The Douglas Memorial Bridge is named in honor of G.H. Douglas who was a Assemblyman of the First District of California.  Below the Douglas Memorial Bridge can be seen during it's prime (courtesy bridgehunter ).  Part 1; the history of the Douglas Memorial Bridge The history of what would become US 101/Redwood Highway begins with the approval of the 1909 First State Highway Bond Act .  The First Stat

The Great PA 48 Clearance Sale

It's not often that any department of transportation sells land it purchased.  They are usually in the business of acquiring land for right-of-way.  But in 1982, the Pennsylvania Department of Transportation did exactly that.  Offering to buyers land it purchased just 15 years earlier for the never-built Route 48 Expressway. Background: The sale was a result of the 1970s cash crunch the PennDOT experienced.  Many projects were cut back, shelved, or eliminated.  The 'New 48', or the North-South Parkway, which was touted for nearly 20 years as a connection from the industrial Mon Valley to the Turnpike and Monroeville was one of the casualties. In the mid-late 1960s, movement to construct the new highway began with targeting a two-mile stretch of highway from the Route 48 intersection at Lincoln Way in White Oak to US 30 in North Versailles.  The plan was then to continue the highway northwards to Monroeville.  Extension south across the Youghiogheny River and to PA 51 would