Item 1. 2021-2023 Street Renewal Summary Funding Options2021-2031 Street Renewal Summary Funding Options
Total Estimate Local Street Renewal Costs for next 11 years = $ 6,654,701.29 (with inflation)
$ 5,357,030.17 2021 dollars
Total Estimate Local Street in Otsego = 96.34 miles
1,517,086 sq.yds
Total Non-MSA (local) street to be renewed over next 11 years = 15.65 miles
225,461 sq.yds
Cost to complete pavement life cycle (50 years @ 2021 dollars) = 96.34 / 15.65 *$5,357,030 = $ 32,977,797.61
Local Streets Only
Rural Urban
2020 Overlay Average $13.94 per SY $13.47 per SY
2020 Reclaim Average $22.60 per SY $38.95 per SY
2020 Reconstruct Average $38.58 per SY $55.81 per SY
Front Footage (ft) Portion of Road responsible for (Sq.Yds)
Large Lot (Rural) Average = 250 333.3
Urban Lot Average = 90 120.0
Average Per Lot Assessment (assumes 50% City funded) for various project types
Rural
Urban
Overlay $2,323.48
$808.05
Reclaim $3,767.16
$2,336.70
Reconstruction $6,430.62
$3,348.53