Title
Appropriate Private Developer Funds
Action
Action:
Adopt a budget ordinance appropriating $157,800 in private developer funds for traffic signal installations and improvements from the following developers:
- PRIII-LIV UNCC Apartments, LP,
- Sharon Academy, LLC,
- Denali REF, LLC,
- Woodlawn Park Land, LP, and
- Centene Management Company, LLC.
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 $157,800 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:
- PRIII-LIV UNCC Apartments, LP contributed $61,295 for signal modifications at North Tryon Street and Orchard Trace Lane (Council District 4).
- Sharon Academy, LLC contributed $13,225 for signal modifications at Tyvola Road and Wedgewood Drive (Council District 6).
- Denali REF, LLC contributed $10,000 for a new signal at Lakeview Road and Beatties Ford Road (Council District 2).
- Woodlawn Park Land, LP contributed $65,780 for signal relocation and pedestrian device upgrade at Woodlawn Road and Nations Crossing Road (Council District 3).
- On December 14, 2020, City Council approved a developer agreement and the appropriation of $55,000 from Centene Management Company, LLC for traffic signal modifications. Centene Management Company, LLC contributed an additional $7,500 for a new traffic signal at 2820 Governor Hunt Road (Council District 4).
§ 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 Ordinances