Title
Appropriate Private Developer Funds
Action
Action:
A. Approve developer agreements with Apex Southpark SPE, LLC; Park Charlotte Declarant, LLC; Rodgers Builders Inc; C4 Cstore Holdings II, LLC; and Lennar Carolinas, LLC for traffic signal modifications, and
B. Adopt a budget ordinance appropriating $153,855 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 $153,855 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:
* Apex Southpark SPE, LLC contributed $56,005 for signal modifications at Colony Road and Sharon Road (Council District 6).
* Park Charlotte Declarant, LLC contributed $10,000 to install a traffic signal at Park Road and Mockingbird Lane (Council District 6).
* Rodgers Builders Inc contributed $67,850 for a rectangular rapid flashing beacon at Charlottetowne Avenue and 5th Street (Council District 1).
* C4 Cstore Holdings II, LLC contributed $10,000 for signal modifications at Mount Holly Road and Mount Holly-Huntersville Road (Council District 2).
* Lennar Carolinas, LLC contributed $10,000 for a pedestrian hybrid beacon at Hamilton Road and Smith Boyd Road (Council District 3).
* 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.
* ...
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