Title
Statewide Contingency Funds Administration Municipal Agreement
Action
Action:
A. Accept Statewide Contingency funds in the amount of up to $1,500,000 on behalf of the North Carolina Department of Transportation,
B. Approve a Municipal Agreement with the North Carolina Department of Transportation to administer the Statewide Contingency funds, and
C. Adopt a budget ordinance appropriating $1,500,000.
Body
Staff Resource(s):
Liz Babson, Transportation
Johanna Quinn, Transportation
Explanation
§ Charlotte City Council adopted a resolution on June 12, 2017, supporting grants totaling up to $1,500,000 in Statewide Contingency Funds to the North Carolina Department of Transportation for highway improvements to accommodate new industry development. The new development includes the Corning Optical Communications headquarters (Council District 2).
§ The funds will be used exclusively for construction of road improvements to facilitate the relocation of Corning Optical Communication’s Headquarters.
§ The development requires highway improvements estimated to cost $10,000,000 at I-485, Brookshire Boulevard, and Mount Holly-Huntersville Road.
§ Corning Optical Communications and the developer, Simpson Commercial, will be responsible for the remaining cost of the project.
§ The Charlotte Regional Transportation Planning Organization Comprehensive Transportation Plan identifies Brookshire Boulevard, Mount Holly-Huntersville Road, and the I-485/Brookshire Boulevard interchange as needing improvement.
Fiscal Note
Funding: North Carolina Department of Transportation Statewide Contingency Funds
Attachments
Attachment(s)
Map
Resolution
Budget Ordinance