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216 Resolution No. 2001-32 RESOLUTION REQUESTING FUNDING ASSISTANCE FOR A NEW ROAD PROJECT IN CABARRUS COUNTY WHEREAS, Cabarrus County has been working on a proposed new road project in the Concord Mills/Lowe's Motor Speedway area for approximately one year, which project will consist of an extension of the existing Speedway Boulevard, from its current terminus at Derita Road, to a proposed realignment of .the current "T" intersection of Cox Mill into Christenbury Road; and 'WHEREAS, Cabarrus County is constructing a new elementary school on Cox Mill Road that will open in the Fall of 2002, for which the North Carolina Department of Transportation will require the County to make substantial improvements on roads currently serving the school site that will not provide relief to traffic that will be generated in the general vicinity of the school; and WHEREAS, nearby Highland Creek is currently building single-family housing in Cabarrus County and will be constructing a rear entrance to the development that will connect with Christenbury Road and provide direct access to Highland Creek from Cabarrus County, greatly improving school and emergency access for residents in that community; and WHEREAS, the Christenbury family, dba Christenbury Farms, Inc., is in the process of placing the family property on the market for development and is aware of the needed improvements to the current road system serving their property; and WHEREAS, these three factors involving the new school construction, the new Highland Creek access road and future development of the Christenbury property, along with the danger of the existing Christenbury Road/Derita Road intersection, have provided an opportunity for a public/private partnership to achieve a needed road improvement that would benefit all parties involved; and WHEREAS, Cabarrus County, Highland Creek and Christenbury Farms, Inc. have made the following verbal commitments totaling approximately $550,000 to fund the project: Cabarrus County has included $250,000 in the County budget, for either improvements on the existing road serving the school, or preferably placing this same amount toward a new 'alignment that would be safer for traffic generated by the school and surrounding developments. This improvement would also provide improved access to the Concord Mills/Lowe's Motor Speedway area; (2) Highland Creek developers have agreed to provide up to $250,000 toward the construction of a new alignment of Christenbury/Cox Mill Road that will improve access to their development and have volunteered to act as contractor for the new road project; 3) Christenbury Farms, Inc. has agreed to dedicate a right-of-way that will be adequate for the construction of a five-lane road and to commit up to $50,000 in funding to the project. The current proposal is to construct two lanes of this road on an 80- foot right-of-way; and WHEREAS, an estimate for the project prepared by Concord Engineering and Surveying, estimates a price between $850,000 and $900,000 for the project, representing a funding shortfall of approximately $300,000; and WHEREAS, the Board of Commissioners views this road project as an opportunity to improve access to several existing area attractions, including the Concord Regional Airport, Concord Mills Mall and Lowe's Motor Speedway, and to provide improved access for future projects and expansions planned in the general area, as well as provide increased safety for the school children in that area of Cabarrus County; and WHEREAS, the Board believes using current County funding for road improvements that impact multiple sites is more viable than simply improving access to a small site with limited traffic use.