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File #: 15-9500    Version: 1 Name:
Type: Business Item Status: Approved
File created: 10/29/2018 In control: City Council Business Meeting
On agenda: 12/10/2018 Final action: 12/17/2018
Title: Private Developer Funds Appropriation
Attachments: 1. Traffic Signal Improvements 110518, 2. YMCA_Budget Ordinance

Title

Private Developer Funds Appropriation

 

Action

Action:

A.                     Approve a developer agreement with YMCA of Greater Charlotte for traffic signal installations and improvements, and

 

B.                     Adopt a budget ordinance appropriating $80,000 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 $80,000 in private developer funding is for traffic signals, traffic signal modifications and/or upgrades, and other related work associated with the developer’s project. The funding is restricted to the project noted below:

-                     YMCA of Greater Charlotte contributed $80,000 for a new traffic signal at the intersection of Quail Hollow Road and Heathstead Place (Council District 6).

§                     This developer contribution is based on a cost estimate prepared by the Charlotte Department of Transportation (CDOT).

§                     Any funding contributed by the developer for a signal project that is unused by the City will be refunded back to the developer 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