Title
Appropriate Private Developer Funds for Traffic Signal Installations and Improvements
Action
Action:
A. Approve developer agreements with Eastside Connections JV, The Square at South End LLC, Central Piedmont Community College, and South Park Real Estate LLC for traffic signal installations and improvements, and
B. Adopt a budget ordinance appropriating $193,575 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 $193,575 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:
* Eastside Connections JV contributed $5,000 for a signal modification at the intersection of Independence Boulevard and Idlewild Road in Council District 5.
* The Square at South End LLC contributed $63,825 for signal modifications at the intersection of South Tryon Street at West Boulevard in Council District 3.
* Central Piedmont Community College contributed $74,750 for signal modifications at Elizabeth Avenue between Kings Drive and Charlottetowne Avenue in Council District 1.
* South Park Real Estate LLC contributed $50,000 for signal modifications at Rexford Road and Roxborough Road 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 thes...
Click here for full text