Title
Private Developer Funds Appropriation
Action
Action:
Adopt a budget ordinance appropriating $91,000 in private developer funds from TDCA Resource Square, LLC and NR Stonewall Property Owner, LLC.
Body
Staff Resource(s):
Liz Babson, Transportation
Debbie Smith, Transportation
Explanation
§ Funding contributions from private developers must be appropriated prior to the City’s initiation of work.
§ TDCA Resource Square, LLC contributed $40,000 for a new traffic signal at the intersection of Mallard Creek Church Road and David Taylor Drive.
§ NR Stonewall Property Owner, LLC contributed $51,000 for traffic signal modifications at Stonewall south of Caldwell.
§ Payments made by developers are in response to estimates of work prepared by the Charlotte Department of Transportation (CDOT) and supplied to the developers.
§ The $91,000 is restricted to traffic signals, upgrades, and related work associated with the developer projects.
§ Any funding contributed by developers for signal projects 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(s)
Map
Budget Ordinance