Title
Private Developer Funds Appropriation
Action
Action:
Adopt a budget ordinance appropriating $72,600 in private developer funds for signal modifications from Dilworth Ventures LLC and REO Funding Solutions III, LLC.
Body
Staff Resource(s):
Danny Pleasant, Transportation
Scott Putnam, Transportation
Explanation
§ Dilworth Ventures LLC contributed $12,300 for signal modifications and Pedestrian signals at the intersection of East Morehead and Kenilworth Avenue.
§ REO Funding Solutions III, LLC contributed $60,300 for signal modifications at the intersection of Wilkinson Boulevard and Sam Wilson Road.
§ Payments made by the developers are in response to estimates of work prepared by the Charlotte Department of Transportation (CDOT) and supplied to the developers.
§ The $72,600 is restricted to traffic signals, upgrades, and related work associated with the developers’ projects.
§ Any funding contributed by developers for signal projects that is unused by the City will be refunded 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