Title
Appropriate Private Developer Funds
Action
Action:
A. Approve developer agreements with Presbyterian Home at Charlotte, Inc. and CCB Montford Park, LLC for traffic signal installations and improvements, and
B. Adopt a budget ordinance appropriating $35,000 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 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 $35,000 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:
- Presbyterian Home at Charlotte, Inc. contributed $10,000 for traffic signal modifications at the intersection of Sharon Road and Sharon View Road located in Council District 6, and
- CCB Montford Park, LLC contributed $25,000 toward the cost of a new signal at the intersection of Park Road and Mockingbird Lane located in Council District 6.
§ 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