Hardeeville hears updated Riverport Exit 3 plan; revised IGA and financing scheduled for council vote

Hardeeville City Council workshop, Jan. 9 — Developers and city staff reviewed the conceptual plan and updated financing for the Riverport development at I‑95 Exit 3 and said the council will be asked next week to approve revised financing documents, a revised intergovernmental agreement (IGA) and related development documents.

The updates matter because the State Infrastructure Bank provided an additional $35 million grant to help close a funding gap for the new Exit 3 interchange and Spine Road. The city and Jasper County will take on a loan as part of the package; developers said the local loan payoff period was revised from 15 years to 25 years and the first five years are interest‑only under the proposed terms.

Developers and staff outlined what remains conceptual and what is more advanced. SCDOT has submitted a bid package to widen I‑95 and reconstruct interchanges, with bids expected Feb. 12 and construction anticipated to start within weeks after award; SCDOT’s schedule presented to the developers envisions a roughly 3–3.5 year timeline for the overall widening work. Developers said they are on the “one‑yard line” for a U.S. Army Corps of Engineers 404 wetlands permit that they expect in January for a limited crossing; that…