MOUNT PLEASANT — Town Council has one of South Carolina’s most ambitious plans to upgrade its roads, drainage and town buildings. It just doesn’t have a way to pay for it all.
That was the message delivered today during council’s annual retreat at the Rivertowne County Club.
Chief Financial Officer Charlie Potts said the town is $27.5 million short of what will be needed to pay for major projects that Town Council already has approved.
“We will not be able to cover, in any meaningful way, the capital projects that have been identified by council,” he said.
And that’s just part of the picture. Town officials have identified $164 million of justifiable projects such as drainage upgrades, a new fire station, recreation improvements and other bit ticket items, but Potts said the town finds itself $113 million shy of what would be needed to pay for it.
Read more in tomorrow’s Post and Courier.