Title
Municipal Agreement for a New Traffic Signal Installation at Mount Holly Road and Rhyne Road and Sonoma Valley Drive
Action
Action:
A. Adopt a resolution authorizing the City Manager to negotiate and execute a Municipal Agreement with the North Carolina Department of Transportation in the amount of $400,000, and
B. Adopt a budget ordinance appropriating $950,000 for the installation of a traffic signal at Mount Holly Road and Rhyne Road and Sonoma Valley Drive in the General Capital Projects Fund.
Body
Staff Resource(s):
Liz Babson, Transportation
Nathan Conard, Transportation
Explanation
§ The North Carolina Department of Transportation (NCDOT) has authorized the installation of a new traffic signal at the intersection of Mount Holly Road and Rhyne Road and Sonoma Valley Drive (bordering Council Districts 2 and 3).
§ The total estimated cost of the installation of the traffic signal is $1,200,000.
§ External funding sources include $950,000 from the following:
- NCDOT funds in the amount of $400,000.
- Private developer funds, in the amount of $550,000, from the projects noted below:
§ 9900 Mount Holly Road, LLC contributed $50,000 per rezoning case 2020-153 approved March 15, 2021,
§ Impact, LLC contributed $200,000 per rezoning case 2020-134 approved April 19, 2021, and
§ Crosland, Inc contributed $300,000 per rezoning case 2003-088 approved November 17, 2003.
§ The City is responsible for the remaining $250,000 of the total cost.
§ This process is consistent with past municipal agreements between the City and NCDOT and with previous developer agreements.
§ The Charlotte Department of Transportation will install and operate this signal as part of the existing signal systems in the area.
Fiscal Note
Funding: General Capital Investment Plan
Attachments
Attachment(s)
Map
Resolution
Budget Ordinance