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Staff Report June 21, 2011 <br /> Concrete & Asphalt Streets <br /> (Cost Comparison) <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 16 <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 1,405,600 S.F. or 32 acres <br /> HCAD Value $8,966,650.00 <br /> Average Assessed value $6.37 per s.f. <br /> Undeveloped: <br /> Total Property 844,700 S.F. or 20 acres <br /> HCAD Value $497,054.00 <br /> Average Assessed Value $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 $694,672.44 <br /> (50 -year life time) $694,672 - 34,586 = 20 years <br /> to payoff w/o interest <br /> Construction Cost for Asphalt Pavement $1,063,764.12 <br /> (1 time construction cost + resurface every 7 years) $1,063,764 - 34,586 = 30 years <br /> to payoff w/o interest <br />