Surfside Beach Town Council considering $4 million bond to help - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Surfside Beach Town Council considering $4 million bond to help rebuild pier

Surfside Beach town leaders are considering $4 million bond to help pay for up front costs associated with the pier's reconstruction. (Source: WMBF) Surfside Beach town leaders are considering $4 million bond to help pay for up front costs associated with the pier's reconstruction. (Source: WMBF)

SURFSIDE BEACH, SC (WMBF) - Plans are moving forward to reconstruct the Surfside Beach Pier that was torn apart by Hurricane Matthew in 2016. Council members decided on a design for the pier in late March, now they're discussing how to cover some of the costs.

New money in the form of a bond will help the town handle some of the upfront costs associated with the pier's construction. Town leaders voted on a first reading of an ordinance to allow the town to take $4,000,000 in bonds to begin paying contractors.

FEMA previously agreed to provide nearly $10 million to go toward the cost of reconstructing the pier. The $4 million bond will act as an immediate cash flow to help foot the bill for the project until FEMA funding kicks in. 

“FEMA has a lot of states they’re dealing with and a lot of times FEMA’s payments to us as we go along might be a little slower than the contractors working. What we’ve done is taken a $4 million bond out to pay the contractors as we go,” said Surfside Beach Mayor Bob Childs.

Mayor Childs says before rebuilding can start, the town has to wait on an environmental study which could take up to 18 months.

Copyright 2018 WMBF News. All rights reserved.

Powered by Frankly