Transit Corridor definition
Examples of Transit Corridor in a sentence
After execution, the property owner can then begin work in the Transit Corridor.
This may include vehicles purchased under the State Transit Block Grant Program, State Transit Corridor Program, State Transit Service Development Program, or other applicable Departmental programs.
Minor Work Any access (work, use, or encroachment) by an adjacent Property Owner into the Transit Corridor requires an executed Corridor Access Agreement with CATS.
At least forty-five (45) business days prior to beginning the City’s Land Development and/or rezoning process, contact CATS to schedule a meeting prior to submitting an Agreement Request Package to discuss the proposed project and requested use of the adjacent Transit Corridor as early as possible and prior to developing detailed design plans.
The Base Value of property adjacent to the Transit Corridor will be assessed pursuant to an appraisal report by a certified appraiser and performed in accordance with North Carolina law and the Uniform Standards of Professional Appraisal Practice (USPAP).
Upon request by an adjacent property owner, CATS may consider releasing its rights to outer portions of the Transit Corridor in exchange for real property and other consideration.1 Pursuant to N.C.G.S. §160A-271, a city may exchange real property for other real or personal property by private negotiation if the city receives a full and fair consideration.
In order to estimate the fair market value of property encumbered with rail or similar structures, and associated rights and interests, the City of Charlotte (the “City”), at the advice and recommendation of the City Appraiser, has established the following formula to be applied to property valuation for land exchanges within the Transit Corridor.
Any access (work, use, or encroachment) by an adjacent Property Owner and/or Utilities into the Transit Corridor requires an executed Corridor Access Agreement with CATS.
CATS may consider releasing outer portions of the Transit Corridor that aren’t used or needed by CATS to the adjacent Property Owner, as long as the proposed adjacent development is transit supportive and in exchange for certain consideration as determined by CATS.
The Transit Corridor may be used for a light rail link the future but the Developer is not responsible for this in any way and the works in the Transit Corridor to be carried out by the Developer are limited to the construction of the public road.