Title
Appropriate Private Developer Funds
Action
Action:
Adopt a budget ordinance appropriating $41,360 in private developer funds from Smith Farms NC LLC for the Prosperity Church Road (Old Ridge Road to Benfield Road) Improvement project to the General Capital Projects Fund.
Body
Staff Resource(s):
Phil Reiger, General Services
Jennifer Smith, General Services
Explanation
§ These improvements are required by the city’s zoning requirements. Private developer appropriations are needed when a developer is providing funds to the city for the city to make improvements.
§ The $41,360 in private developer contributions will be used for roadway improvements on the nearby Prosperity Church Road (Old Ridge Road - Benfield Road) Improvement project, located in Council District 4.
§ These funds must be appropriated prior to the city’s initiation of construction.
Fiscal Note
Funding: Private Developer Contributions
Attachments
Attachment(s)
Map
Budget Ordinance