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Staff Report <br />Concrete & Asphalt Streets <br />(Cost Comparison) <br />June 21, 2011 <br />At the March 17, 2011 meeting, the Commission held a workshop to review the City's <br />official truck route map and discuss possible additions of new truck routes along South 16th <br />Street north and south of Fairmont Parkway (see map attached). <br />The Commission directed staff to prepare cost estimates and furnish a cost benefit analysis <br />for the reconstruction of those streets both concrete & asphalt. Staff has calculated projected <br />value of developed and undeveloped properties along these rights -of -way, which is as <br />follows: <br />Developed: <br />Total Property <br />HCAD Value <br />Average Assessed value <br />Undeveloped: <br />Total Property <br />HCAD Value <br />Average Assessed Value <br />1,405,600 S.F. or 32 acres <br />$8,966,650.00 <br />$6.37 per s.f. <br />844,700 S.F. or 20 acres <br />$497,054.00 <br />$1.70 per s.f. <br />The Engineering Division has prepared cost estimates for those streets (Exhibit A). Staff has <br />calculated projected revenues of $34,586 per year based on the HCAD appraised value of <br />developed and undeveloped properties along these rights -of -way (Exhibit B). <br />The schedule of costs and benefits for the project is as follows: <br />Construction Cost for Concrete Pavement <br />(50-year life time) <br />Construction Cost for Asphalt Pavement <br />(1 time construction cost + resurface every 7 years) <br />$694,672.44 <br />$694,672=34,586 = 20 years <br />to payoff w/o interest <br />$1,063,764.12 <br />$1,063,764=34,586 = 30 years <br />to payoff w/o interest <br />