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§ 50.62 INTERSECTION AND ROADWAY IMPROVEMENT AGREEMENTS.
   (A)   The town may approve intersection and roadway improvement agreements with a developer or property owner, or with a private party who is under contract with the developer or property owner, for public intersection or roadway improvements that are adjacent or ancillary to a private land development project. The Town Manager, or designee, may negotiate intersection and roadway improvement agreements with a developer or property owner (or private party under contract with the developer or property owner) in accordance with this section and applicable policies and procedures. In approving such agreements, the town shall first determine that:
      (1)   The public cost will not exceed the estimated cost of providing for such improvements through either eligible force account qualified labor or through a public contract let pursuant to G.S. Chapter 143, Article 8; and
      (2)   The coordination of separately constructed public intersection or roadway improvements would be impracticable.
   (B)   Notwithstanding the foregoing, such intersection and roadway improvement agreements shall not be subject to the provisions of G.S. Chapter 143, Article 8, if the public cost will not exceed $250,000.
(Ord. 38-23, passed 11-9-2023)
§ 50.63 REIMBURSEMENT FUNDING AND IMPACT FEE CREDITS.
   Reimbursements under a municipal infrastructure reimbursement agreement or intersection and roadway improvement agreement may be paid from any lawful source. Without limiting the foregoing, the town may provide reimbursement by fee credits against required fees when a developer or property owner installs improvements of a type that generally would be paid for by the town out of a capital reserve account funded by impact fees.
(Ord. 38-23, passed 11-9-2023)