Title
Appropriate Private Developer Funds
Action
Action:
A. Adopt a budget ordinance appropriating $185,650 in private developer funds for traffic signal installations and improvements to the General Capital Projects Fund, and
B. Adopt a budget ordinance appropriating $62,500 in supplemental developer funds for traffic signal installations and improvements on projects currently under construction to the General Capital Projects Fund.
Body
Staff Resource(s):
Liz Babson, Transportation
Charles Abel, Transportation
Explanation
* Private developer 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 $185,650 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:
* CK Arboretum Southeast, LLC contributed $150,000 for signal improvements associated with rezoning petition 2017-057 Arboretum Mixed Use Development (Council District 7).
* Prosperity Village TH, LLC contributed $35,650 for signal modifications at Johnston Oehler Road and Oehler Crossing Drive (Council District 4).
* The $62,500 in supplemental developer funds is for signal modifications and other work associated with the developer's projects. The funding is restricted to the projects noted below:
* Northwood Development, LLC contributed $62,500 for additional funding for signal modifications at Johnston Road and Brixham Hill Avenue (Council District 7). The original appropriation for these modifications were approved by City Council on April 12, 2021.
* 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 proje...
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