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Developers to escrow $670K for Maybank/Southwick signal under city MOU
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Summary
The committee approved an MOU for Heritage Capital to escrow about $670,000 to fund signalization on Maybank Highway at Southwick Drive; funds would instead pay for a new realigned 4‑leg signal if a second developer proceeds with a nearby realignment, subject to DOT approval.
The Traffic and Transportation Committee approved a memorandum of understanding March 24 that will allow developer funds to be escrowed and applied to signalize Maybank Highway at a reconfigured intersection if nearby development moves forward.
James Wallace, the city’s transportation project manager, explained that Heritage Capital’s traffic study showed the Southwick intersection on Maybank met signal warrants. The proposed MOU would have Heritage Capital deposit approximately $670,000 into escrow. If Cooper Development proceeds with a realignment of Southwick to tie into Saint John's Woods Parkway and construct a new four‑leg intersection, Cooper would use the escrowed funds to build the signal and realigned roadwork; if the realignment does not happen within a defined funding window, the city could instead use the funds to signalize the existing Southwick location.
Wallace said DOT has been briefed and is conceptually supportive; the MOU and use of escrowed funds remain subject to permitting and DOT approval. Committee members asked for maps and for staff to keep council and district members informed; the committee approved the MOU by voice vote.
The MOU is intended to create flexibility so developer contributions can fund the most efficient signal solution while preserving the city’s ability to use the money for the existing intersection if the build‑out scenario changes.
