Title
Private Developer Funds Appropriation
Action
Action:
A. Approve Developer Agreements with Bryant Farms Development, LLC, 601 South Tryon, LLC, Central Point and NoDa Owner, LLC for traffic signal installations and improvements, and
B. Adopt a budget ordinance appropriating $134,832 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 $134,832 in private developer funding is for traffic signals, traffic signal modifications and/or upgrades, and other related work associated with the developers’ projects. The funding is restricted to the projects noted below:
- Bryant Farms Development, LLC contributed $5,175 for traffic signal at Charlotte Fire Station #32 (Council District 7).
- 601 South Tryon, LLC contributed $24,834 for traffic signal modifications at College Street and Stonewall Street (Council District 1).
- Central Point contributed $79,925 for traffic signal modifications at 10th Street and Seigle Avenue (Council District 1).
- NoDa Owner, LLC contributed $24,898 for traffic signal modifications at North Davidson and 27th Street (Council District 1).
§ These developer contributions are based on cost estimates prepared by the Charlotte Department of Transportation (CDOT).
§ Any funding contributed by the developer(s) for a signal project that is unused by the City will be refunded back to the developer(s) 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 Contribution
Attachments
Attachment(s)
Map
Budget Ordinance