Title
Private Developer Funds for Traffic Signal Improvements
Action
Action:
A. Authorize the City Manager to execute Developer Agreements with Duke Energy, CRP/CW 1201 Central, LLC, and Childress Klein Properties, Inc., and
B. Adopt a budget ordinance appropriating $145,247 in private developer funds for traffic signal improvements.
Body
Staff Resource(s):
Scott Putnam, Transportation
Explanation
§ The $145,247 in private developer funding is for traffic signals/upgrades and related work associated with developer projects. The funding is restricted to these projects.
§ The following developers are fully funding traffic signal installations and improvements to mitigate traffic impacts around their respective development projects:
- Duke Energy contributed $101,247 for mast arm signals at the intersection of S. Mint Street and W. 1st Street.
- CRP/CW 1201 Central, LLC contributed $37,500 for signal modification at the intersection of Central Avenue and Hawthorne Lane.
- Childress Klein Properties, Inc. contributed $6,500 for signal modification at the intersection of Cascade Point Boulevard and W. Tyvola Road.
§ The above signals meet the same criteria as other traffic signals approved by the City.
§ Payments made by the developers 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 be installing and operating these signals as part of the existing signal systems in the area.
Fiscal Note
Funding: Private Developer Contributions
Attachments
Attachment
Map
Budget Ordinance