The total estimated cost to develop and build this important safety project is about $32 million. The Boundary Street Redevelopment Corridor project budget is funded through three sources:
- The Beaufort County one cent sales tax of $11.346 million
- The City of Beaufort's Tax increment financing (TIF) II estimated contribution of about $8.223 million
- A Federal Highway Administration Transportation Investment Generating Economic Recovery (TIGER) grant of $12.63 million
The Boundary Street Redevelopment Corridor plans caught eyes at the federal level in 2011 as Beaufort earned the 16th largest Department of Transportation (DOT) grant that year and the largest in South Carolina history. Of the 848 applications for the TIGER III grant in 2011, only 48 were awarded funding; about 6% of the total applications received.