Title
Parkside Crossing Townhomes Developer Reimbursement Agreement
Action
Action:
Authorize the City Manager or designee to enter into a developer reimbursement agreement with Pulte Home Company, LLC in an amount not to exceed $1,000,000.
Body
Staff Resource(s):
Debbie Smith, Transportation
Matt Magnasco, Transportation
Explanation
§ The city will at times partner with private developers to construct infrastructure improvements on behalf of the city.
§ Pulte Home Company, LLC is developing the Parkside Crossing subdivision off Steele Creek Road and Parkside Crossing Drive in Council District 3.
§ The city and Pulte Home Company are partnering to construct the extension of Simone Terrace across Walker Branch tributary.
§ The city agrees to reimburse Pulte Home Company for the creek crossing construction as part of their subdivision in an amount not to exceed $1 million.
§ The project supports the 2022 Council-adopted Strategic Mobility Plan by advancing Charlotte's safe, connected, equitable, sustainable, prosperous, and innovative transportation network.
§ Construction is expected to start in mid-2025.
Charlotte Business INClusion
Pulte Home Company must comply with the requirements of the Charlotte Business INClusion program. Prior to the City Manager executing the developer reimbursement agreement, the CBI Office will negotiate a minimum 8.00% MBE contract goal and 4.00% WBE contract goal on all work tied to this agreement.
Fiscal Note
Funding: General Capital Investment Program
Attachments
Attachment(s)
Map