Titlee
Appropriate Private Developer Funds
Action
Action:
Adopt a budget ordinance appropriating $44,506.35 in private developer funds for traffic signal installations and improvements to the General Capital Projects Fund.
Body
Staff Resource(s):
Liz Babson, Transportation
Charles Abel, Transportation
Explanation
§ Private developer 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 $44,506.35 in private developer funds is for road modifications, traffic signals, traffic signal modifications, and/or upgrades, and other related work associated with the developers’ projects. The funding is restricted to the projects noted below:
- Northwood Development, LLC contributed $32,500 for signal modifications at Johnston Road and Brixham Hill Avenue (Council District 7), and
- On February 13, 2017, City Council appropriated $141,582 from GSLH Charlotte Realty Holdings, LLC for a new signal and push button pedestrian signals at the intersection of Church Street and West Hill Street (Council District 2). GSLH Charlotte Realty Holdings, LLC has contributed $12,006.35 in supplemental developer funds for an additional signal.
§ These developer contributions are based on cost estimates prepared by the Charlotte Department of Transportation (CDOT).
§ Any funding contributed by the developer(s) for a signal project that is unused by the city will be refunded back to the developer(s) 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