Title
Appropriate Private Developer Funds
Action
Action:
A. Approve developer agreements with Arlington Properties; Quality Automotive; Crescent Acquisitions, LLC; Crescent River District, LLC; K Sade Ventures, LLC; TAC Cannon Avenue, LLC; and Lidl US Operations, LLC for traffic signal modifications, and
B. Adopt a budget ordinance appropriating $361,471 in private developer funds for traffic signal installations and improvements.
Body
Staff Resource(s):
Liz Babson, Transportation
Bryan Tarlton, Transportation
Explanation
* Private developer agreements and 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 $361,471 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:
* Arlington Properties contributed $49,220 for signal modifications at North Tryon Street and Periwinkle Hill Avenue (Council District 4);
* Quality Automotive contributed $24,495 for signal modifications at Mount Holly-Huntersville Road and Rozzelles Ferry Road (Council District 2);
* Crescent Acquisitions, LLC contributed $222,756 for signal modifications at 7th Street and North Caswell Road and at 5th Street and North Caswell Road (Council District 1);
* Crescent River District, LLC contributed $17,500 for signal modification at Dixie River Road and the proposed West Boulevard Extension (adjacent to Council District 3) and West Boulevard and Byrum Drive (Council District 3);
* K Sade Ventures, LLC contributed $10,000 for signal modifications at University City Boulevard and Harris Houston Road (Council District 4);
* TAC Cannon Avenue, LLC contributed $17,500 for a new traffic signal at West Sugar Creek Road and The Roma...
Click here for full text