Title
Appropriate Private Developer Funds
Action
Action:
A. Approve a developer agreement with Steele-Trojan Development, and
B. Adopt a budget ordinance appropriating $250,000 in private developer funds for road improvements.
Body
Staff Resource(s):
Liz Babson, Transportation
Felix Obregon, Transportation
Explanation
§ Private developer agreements and appropriations are needed when a developer is required through the city rezoning process to make road improvements.
§ The $250,000 in private developer funding is for road improvements related to the project noted below:
- Steele-Trojan Development contributed $250,000 for road improvements to the Steele Creek Road widening project located in Council District 3.
§ This road widening project is being completed by the North Carolina Department of Transportation (NCDOT).
§ The city is anticipated to enter into a municipal agreement with NCDOT in the future to transfer this funding into the NCDOT project budget.
§ These developer contributions are based on cost estimates prepared by NCDOT and the Charlotte Department of Transportation.
§ NCDOT will maintain these road improvements as part of the state-maintained street network.
Fiscal Note
Funding: Private Developer Contributions
Attachments
Attachment(s)
Map
Budget Ordinance