Title
Private Developer Funds Appropriation
Action
Action:
A. Approve a Developer Agreement with RFC, LLC for traffic signal installations and improvements, and
B. Adopt a budget ordinance appropriating $19,000 in private developer funds for traffic signal installations and improvements.
Body
Staff Resource(s):
Liz Babson, Transportation
Charles Abel, Transportation
Explanation
§ Private developer agreements and funds 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 $19,000 in private developer funding is for traffic signals, traffic signal modifications and/or upgrades, and other related work associated with the developer project. The funding is restricted to the project noted below.
§ The following developer is fully funding traffic signal modifications and improvements to mitigate traffic impacts around their respective development project:
- RFC, LLC contributed $19,000 for traffic signal modifications at the intersections of Ardrey Kell Road and Providence Road and Providence Country Club Road and Providence Road (Council District 7).
§ The signals are required to meet the same criteria as other traffic signals approved by the City.
§ Payments made by the developer are in response to estimates of work prepared by the Charlotte Department of Transportation (CDOT) and supplied to the developer.
§ Any funding contributed by the developer for a signal project that is unused by the City will be refunded after project completion.
§ CDOT will install and operate this signal as part of the existing signal systems in the area.
Fiscal Note
Funding: Private Developer Contribution
Attachments
Attachment(s)
Map
Budget Ordinance