Title
Private Developer Funds Appropriation
Action
Action:
A. Approve developer agreements with Dominion Realty Partners, LLC, Pappas Midtown, LLC, Rea Farms Construction, LLC, and RRPV South Tryon Charlotte LP for traffic signal installations and improvements, and
B. Adopt a budget ordinance appropriating $362,877.95 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 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 $362,877.95 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:
- Dominion Realty Partners, LLC contributed $93,427 for traffic signal modifications at the intersection of Graham Street and Martin Luther King Jr. Boulevard (Council District 2).
- Pappas Midtown, LLC contributed $168,500 for a new traffic signal at the intersection of Kenilworth Avenue and Harding Place (Council District 1).
- Rea Farms Construction, LLC contributed an additional $66,450.95 for signal modifications at the intersections of Ardrey Kell Road and Fairway Row Lane and Providence Road and Ardrey Kell Road (Council District 7).
- RRPV South Tryon Charlotte LP contributed $34,500 for traffic signal modifications at the intersection of South Tryon Street and West Tremont Avenue (Council District 3).
§ 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 Contributions
Attachments
Attachment(s)
Map
Budget Ordinance