Title
Appropriate Private Developer Funds
Action
Action:
A. Approve developer agreements with Charlotte Mecklenburg Schools and Hazel Southpark Apartments, LP for traffic signal modifications, and
B. Adopt a budget ordinance appropriating $40,000 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 $40,000 in private developer funds is for road modifications, 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:
- Charlotte Mecklenburg Schools contributed $10,000 for signal modifications at the intersection of York Road and McDowell Parkway (adjacent to Council District 3).
- Hazel Southpark Apartments, LP contributed $30,000 for signal modifications at Barclay Downs Drive and Carnegie Boulevard (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