Title
Private Developer Funds Appropriation
Action
Action:
A. Approve Developer Agreements with the following companies for traffic signal installations and improvements:
- Haven Campus Communities-Charlotte LLC,
- 521 Partners LLC,
- LMV Block 42 Holdings, LP,
- 10th & Seigle Ave., LLC,
- KP Development, LLC,
- NCCFA1, LLC,
- DC Charlotte Plaza, LLLP,
- High Family Partnership, I LP, and
- Columbia Cochran Commons, LLC.
B. Adopt a budget ordinance appropriating $487,632 in private developer funds for traffic signal installations and improvements.
Body
Staff Resource(s):
Liz Babson, Transportation
Charles Abel, Transportation
Explanation
§ Private developer agreements and funds appropriations are needed when a developer is required through the City rezoning process to make traffic signal improvements.
§ Funding contributions from private developers must be appropriated prior to the City’s initiation of work.
§ The $487,632 in private developer funding is for traffic signals, traffic signal modifications and/or upgrades, and other related work associated with developer projects. The funding is restricted to the projects noted below.
§ The following developers are fully funding traffic signal modifications and improvements to mitigate traffic impacts around their respective development projects:
- Haven Campus Communities-Charlotte LLC contributed $9,500 for traffic signal modifications at the intersection of University City Boulevard and Suther Road (Council District 4).
- 521 Partners LLC contributed $91,000 for traffic signal modifications at the intersections of Providence Road West and Highway 521, and Providence Road West and Lancaster Highway (Council District 7).
- LMV Block 42 Holdings, LP contributed $92,087 for traffic signal modifications to include a new mast arm at 9th Street and College Street (Council District 1).
- 10th and Seigle Avenue, LLC contributed $5,000 for traffic signal modifications at the intersection of 10th Street and Seigle Avenue (Council District 1).
- KP Development, LLC contributed $27,000 for traffic signal modifications at the intersection of Tuckaseegee Road and Queen City Drive (Council District 3).
- NCCFA1, LLC contributed $45,600 for traffic signal modifications at Prosperity Church Road and Ridge Avenue (Council District 4).
- DC Charlotte Plaza LLLP contributed $177,445 for a new traffic signal at S. Tryon Street, Camden Road and W. Summit Street (Council District 1).
- High Family Partnership, I LP contributed $20,000 for a new traffic signal at Mallard Creek Church Road and David Taylor Drive (Council District 4).
- Columbia Cochran Commons, LLC contributed $20,000 for a new traffic signal at Mallard Creek Church Road and David Taylor Drive (Council District 4).
§ The signals are required to meet the same criteria as other traffic signals approved by the City.
§ Payments made by the developer are in response to estimates of work prepared by the Charlotte Department of Transportation (CDOT) and supplied to the developer.
§ Any funding contributed by the developer for a signal project that is unused by the City will be refunded after project completion.
§ CDOT will install and operate these signals as part of the existing signal systems in the area.
Fiscal Note
Funding: Private Developer Contributions
Attachments
Attachment(s)
Map
Budget Ordinance