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1 <br />LT SMP Costs & Funding Options <br />2013 Estimated Costs - <br />• Estimated costs were updated to maintain a Pavement Surface <br />Evaluation and Rating (PASER) of 7 or better on all 174.1 miles of city <br />streets, including MSA streets. <br />• Costs included all costs required to maintain and reconstruct all <br />streets assuming a 60-year life span due to our sandy subgrade soils, <br />excluding initial construction costs. <br />• Costs include 9 crackseals, 6 sealcoats, 2 overlays + 1 reconstruction. <br />• Costs include 18% indirect costs. <br />• $4,368,000 = Annual cost to fund our SMP over 60 years (2014-2073) . <br />• $l 1,01 1,879 = Total five year (2014-2018) cost to maintain all city <br />streets (= $2,202,376 annually). <br />• $25,247,367 = Total ten year (2014-2023) cost to maintain all city <br />streets (= $2,524,737 annually). <br />• See Figure 1 attached to case for additional information. <br />City of I,. <br />RAMSEY <br />August 27, 2013 CC Workshop <br />1 <br />