Title
Municipal Agreement for the Lakeview Road Corridor Project
Action
Action:
A. Adopt a resolution to execute a Municipal Agreement with the North Carolina Department of Transportation and accept supplemental funding in Bonus Allocation funding in the amount of $2,000,000 for improvements along Lakeview Road in association with the North Carolina Department of Transportation (NCDOT) Lakeview Direct Connect Interchange project, and
B. Adopt a budget ordinance appropriating $2,000,000 in NCDOT funds.
Body
Staff Resource(s):
Liz Babson, Transportation
Ashley Landis, Transportation
Keith Bryant, Transportation
Explanation
* The state of North Carolina provides incentive funds for projects in counties that implement high-occupancy managed lane projects.
* The incentives are referred to as Bonus Allocations and are separate from the State's Transportation Program and do not affect funding distributions that a region or NCDOT Division would normally receive.
* Bonus Allocation funds do not require a local match.
* The Charlotte Regional Transportation Planning Organization received Bonus Allocation Funds for the I-77 managed lanes project.
* The Lakeview Road project funding totals $11,000,000.
* A previous Municipal Agreement for the Lakeview Road project with NCDOT was executed by City Council on October 4, 2016.
* This Municipal Agreement accepted Bonus Allocation funds in the amount of $9,000,000 for the planning/design, acquisition of right-of-way, utility relocations, and construction.
* $2,000,000 is proposed in supplemental Bonus Allocation funds.
* The Lakeview Road project, located in Council District 2, is being managed by the City. This project will focus on increasing vehicular capacity at key intersections along Lakeview Road to facilitate movement to and from the Lakeview Direct Connect Interchange. The project limits are from Cushing Drive to Old Statesville Road.
* Projects in Charlotte along the Lakeview Road corridor include:
* Lakevi...
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