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Memorandum of Understanding Between the Counties of Cabarrus, Lincoln, and Mecklenburgj the Cities of Concord and Kannapolis; the Towns of Cornelius, Davidson, and Huntersville; the Cabarrus- Rowan Metropolitan Planniug Organizationj the Centralina Council of Governments; the Lake Norman Rural Transportation Planning Organizationj the Mecklenburg-Union Metropolitan Planning Organization, and the North Carolina Department of Transportation THIS MEMORANDUM OF UNDERSTANDING (hereinafter, "MOU") is made and entered into on the date herein below last written, by and between the Counties of Cabarrus, Lincoln, aud Mecklenburg (hereinafter, "the counties"); the Cites of Concord and Kannapolis and the Towns of Cornelius, Davidson, and Huntersville (hereinafter, "the municipalities"); the Cabarrus-Rowan Metropolitan Planning Organization; the Centralina Council of Governmentsj the Lake Norman Rural Transportation Planning Organization; the Mecklenburg-Union Metropolitan Planning Organization, and the North Carolina Depar.tment of Transportation; collectively referred to hereinafter as the Parties. Background In February 2003, the North Carolina Department of Transportation (''NCDOT''), three counties, five municipalities, three Chambers of Commerce, two Metropolitan Planning Organizations and one Regional Planning Organization engaged the Centralina Council of Govemments ("COG") to administer a study of the NC 73 Corridor from Interstate Highway 85 in Cabarrus County to US Highway 321 in Lincoln County. Funds for this Corridor Study came from NCDOT, as well as from the counties, municipalities and private sector sources along the Corridor. The term "Corridor" as used in this Memorandum of Understanding (MOD) means the area lying roughly within one-half (1/2) mile of the centerline ofthe NC 73 right of way between the highway's intersections with Interstate 85 in Cabarrus County, and with US 321 in Lincoln County. The impetus for the NC 73 Transportation! Land Use Corridor Plan (the "Plan") was the recognition that increased development pressures along the Corridor, and the resulting vehicular burdens, have stressed the roadway's capacity to serve as a reliable transportation facility for its many users. Moreover, all of the funding partners recognized two key factors: I) considerable physical improvement will be required to "fix" the corridor; and 2) the current and foreseeable land uses along the Corridor need to be evaluated before undertaking any capital investment in "fixing" the roadway itself. Beginning with this broad consensus, COG and NCDOT selected a team of planners to undertake the details of this study. The contract of these planning services was executed in April 2003, and the planning team's analysis began shortly thereafter. Ne 73 MOU-AGDRAFT Page 1 oJ5 f:'-3 February 2005