Title
Charlotte Transportation Center Design Reimbursement Agreement
Action
Action:
A. Authorize the City Manager to negotiate and execute a design reimbursement agreement with WPTP Brevard Holdings LLC in an amount not to exceed $2,900,000 for the design of the Charlotte Transportation Center redevelopment, and
B. Authorize the City Manager to amend the agreement consistent with the purpose for which the agreement was approved.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
John Lewis, CATS
Explanation
* The Charlotte Transportation Center (CTC) located at 310 E. Trade Street was built in 1995 and is beyond its economic useful life.
* The current CTC is proposed to be redeveloped into a new multimodal facility as part of a joint development project that would include high-density, mixed-use development located in Council District 1.
* The proposed private development is approximately 1 million square feet of office, hotel, and retail. The total estimated private investment for this project is $500,000,000.
* The proposed project includes both a permanent multimodal facility on the current CTC site, as well as a temporary facility on the adjacent property owned by the developer to maintain bus service during construction of the permanent facility. The developer for the site is WPTP Brevard Holdings LLC.
* Total design cost for the CTC redevelopment is estimated at $18,000,000, which includes architectural and engineering services for both the permanent and temporary transit facilities.
* The design reimbursement will be used to advance conceptual site plans to 30 percent engineering design to determine the feasibility of the project.
* Additional design services may be provided through an amendment to this agreement or through a future joint development agreement.
* Terms of the agreement would require the developers to design the public improvements to 30 percent engineering and the city would reimburse the cost of the design base...
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