Title
Vote on a request to approve a request by Moncure Holdings to adopt a resolution supporting the request for Department of Transportation Contingency Funds for the design and engineering of access to the Moncure Megasite.
Abstract
Action Requested: Vote on a request to approve adopting a resolution supporting the request for Department of Transportation Contingency Funds for the design and engineering of access to the Moncure Megasite.
Introduction & Background: The Moncure Megasite located in southeast Chatham County through analysis with consultants identified the need for improved site access road to be constructed from Pea Ridge Road and over Old US 1 to the northern boundary of the Moncure Megasite. This access road will be necessary to support transportation access for an industrial end user of the site. By completing the design and engineering of the road, the construction timeline is drastically reduced once an end user selects the Moncure Megasite as its location. The Department of Transportation has a contingency fund which supports discretionary projects. The fund, which does not require a local match, can provide up to $750,000 per year for two years.
Discussion & Analysis: Requests from the local legislative representatives, along with a resolution from the local governing body, must be made to the North Carolina Department of Transportation to access a maximum of $1.5 million over the two year period. An end user locating on the North Carolina Certified Moncure Megasite will create the need for additional transportation infrastructure. By completing the design and engineering of the interchange and access road, the Moncure Megasite becomes more competitive and more attractive to an end user by reducing their construction timeline. In return, this allows for greater marketing of the Moncure Megasite in order to create greater private investment and job creation.
Budgetary Impact: There is no negative impact to the budget due to no loca...
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