Title
Private Developer Funds for Traffic Signal Improvements
Action
Action:
Adopt a budget ordinance appropriating $55,000 in private developer funds for traffic signal improvements and related work.
Body
Staff Resource(s):
Liz Babson, Transportation
Charles Abel, Transportation
Explanation
§ Private developer funding is for traffic signals, upgrades, and related work associated with developer projects.
- Stonewall Station Investments, LLC is fully funding ($5,000) traffic signal modifications and improvements to mitigate traffic impacts at the intersection of S. Caldwell Street and I-277 Ramp (Council District 1), and
- Goldberg Companies, Inc. is contributing $50,000 for a new signal at Lancaster Highway and Clems Branch Drive/Landing Place Lane (Council District 7).
§ 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 developers.
§ 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 system in the area.
Fiscal Note
Funding: Private Developer Contributions
Attachments
Attachment(s)
Map
Budget Ordinance