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Finances

The construction contract for the Cooper River Bridge Replacement Project, the single-biggest project in SCDOT history, was signed in July 2001.

The financial package for the bridge consists of a $325 million funding grant and a $215 million loan from the South Carolina Transportation Infrastructure Bank (SIB), and match funding from the Federal Highway Administration.

Originally, the SIB loan funds were guaranteed by a Transportation Infrastructure Finance and Innovative Act (TIFIA) loan from the FHWA. During construction this loan was converted to state-issued bonds. The TIFIA Program was established in TEA-21 and provides direct loans or loan for transportation projects exceeding $100 million dollars. The loan is to be repaid by the SCDOT, the State Ports Authority, and Charleston County.


Read SCDOT's 27 in 7, Peak Performance booklet (393k) and find out about one of the most innovative highway and bridge construction programs in the United States.

Read SCDOT's 27 in 7, Peak Performance booklet (689KB) and find out about one of the most innovative highway and bridge construction programs in the United States.

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