Title
Municipal Agreement for the Lakeview Road Corridor Project
Action
Action:
A. Adopt a resolution authorizing the City Manager to execute a Municipal Agreement with the North Carolina Department of Transportation to accept Discretionary funds for the Lakeview Road Corridor project, and
B. Adopt a budget ordinance appropriating $3,823,000 from the North Carolina Department of Transportation for the Lakeview Road Corridor project.
Body
Staff Resource(s):
Liz Babson, Transportation
Ashley Landis, Transportation
Keith Bryant, Transportation
Explanation
§ The North Carolina Department of Transportation (NCDOT) provides supplemental funding opportunities for existing discretionary-funded projects.
- The Charlotte Regional Transportation Planning Organization approved Discretionary funds for Lakeview Road Corridor project in July 2019.
§ The Lakeview Road Corridor project aims to increase vehicular capacity at key intersections along Lakeview Road and to facilitate movements to and from the I-77/Lakeview Road Direct Connect Interchange. The project is located in Council District 2 and extends from Cushing Drive to Old Statesville Road. The project is funded by NCDOT but is managed by the city.
§ On September 26, 2016, City Council approved a Municipal Agreement with NCDOT to appropriate $9,000,000 of Bonus Allocation funds for the Lakeview Road Corridor project.
§ On June 11, 2018, City Council appropriated an additional $2,000,000 of NCDOT Bonus Allocation funds, bringing the total project funding to $11,000,000.
§ The Lakeview Road Corridor project budget currently totals $14,823,000. An additional $3,823,000 is being provided from NCDOT in Discretionary funds. The increased funding is needed for full-depth pavement rehabilitation which was not part of the original project scope.
§ The Lakeview Road Corridor project is currently in the real estate phase, and construction is expected to begin in 2020.
Fiscal Note
Funding: NCDOT Discretionary Funds
Attachments
Attachment(s)
Map
Resolution
Budget Ordinance