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<br />Task Force Recommendation: Reconstruct Streets with Concrete - Maintain Same Financing
<br />Rates
<br />The recommendation involves reconstructing new streets with concrete pavement, while
<br />maintaining the financing rates in place with the City's existing CIP. The average cost of
<br />concrete pavement reconstruction over bituminous pavement is 35%, meaning that the total
<br />Street CIP Budget would need to increase to $1,390,500 per year. The following funding
<br />breakdown is proposed:
<br />Taste Force Recommendation: Program Funding
<br />(2) 15,760 SY / Year x $8.05 / SY
<br />All costs and assessments increase by 35% across the board. Over a period of 14 years, the total
<br />Street CIP Budget would increase by $5,047,000. Special assessments would account for
<br />$1,766,450 of this amount. The City's General Fund would account for $3,280,550 of these
<br />costs. This option would require that the City's Assessment Policy be modified to allow for the
<br />reconstruction of existing concrete streets with concrete pavement.
<br />While the City's initial costs increase, the estimated maintenance costs decrease over the life of
<br />the pavement. The reduced maintenance cost for the City is estimated at $248,800 over 60
<br />years for every 3,700 feet of roadway. The total life cycle cost for the City would be
<br />$1,088,793, a decrease of $14,475 over the life of the pavement (1.3%).
<br />Street Reconstruction Task Force Findings Report
<br />November 13, 2008
<br />WSS Project No. 1626-03
<br />Concrete
<br />Construction
<br />Current CIP
<br />Difference
<br />Average Street Length
<br />3,700 feet / year
<br />3,700 feet / year
<br />-
<br />Street CIP Budget
<br />$1,390,500
<br />$1,030,000
<br />$360,500
<br />Residential Assessment Rate
<br />35%
<br />35%
<br />Funding from Special Assessments
<br />$486,675
<br />$360,500
<br />$126,175
<br />Funding from City's General Fund
<br />$903,825
<br />$669,500
<br />$234,325
<br />Funding from City's Routine Maintenance
<br />Budget (over Life Cycle)''
<br />$126,868
<br />$422,368
<br />($295,500)
<br />Funding from City's Non -Routine Maintenance
<br />Budget (over Life Cycle)
<br />$58,100
<br />$11,400
<br />$46,700
<br />Total City Contribution
<br />$1,088,793
<br />$1,103,268
<br />($14,475)
<br />Average Assessable Front Footage (feet)
<br />5,659
<br />$5,659
<br />-
<br />Average Assessment per Front Foot
<br />$86.00
<br />$63.70
<br />$22.30
<br />(2) 15,760 SY / Year x $8.05 / SY
<br />All costs and assessments increase by 35% across the board. Over a period of 14 years, the total
<br />Street CIP Budget would increase by $5,047,000. Special assessments would account for
<br />$1,766,450 of this amount. The City's General Fund would account for $3,280,550 of these
<br />costs. This option would require that the City's Assessment Policy be modified to allow for the
<br />reconstruction of existing concrete streets with concrete pavement.
<br />While the City's initial costs increase, the estimated maintenance costs decrease over the life of
<br />the pavement. The reduced maintenance cost for the City is estimated at $248,800 over 60
<br />years for every 3,700 feet of roadway. The total life cycle cost for the City would be
<br />$1,088,793, a decrease of $14,475 over the life of the pavement (1.3%).
<br />Street Reconstruction Task Force Findings Report
<br />November 13, 2008
<br />WSS Project No. 1626-03
<br />
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