Title
Appropriate Private Developer Funds
Action
Action:
A. Approve developer agreements with 2151 Hawkins, LLC; Golden Nugget Associates Owner, LLC; and Novant Health for traffic signal modifications, and
B. Adopt a budget ordinance appropriating $169,063 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 $169,063 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:
* 2151 Hawkins, LLC contributed $28,750 for signal modifications at South Boulevard and Tremont Avenue (adjacent to Council Districts 1 and 3)
* Golden Nugget Associates Owner, LLC contributed $107,813 for signal modifications at Mint Street and Carson Boulevard (adjacent to Council Districts 2 and 3) and Mint Street and Palmer Street (Council District 3).
* Novant Health contributed $32,500 for signal modifications at Providence Road West and Old Ardrey Kell Road, Johnston Road and Providence Road West, Johnston Road and Marvin Road and Providence Road West and Community House Road (Council District 7).
* 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 Develop...
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