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Item C: General Obligation Bonds for Street Maintenance
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Item C: General Obligation Bonds for Street Maintenance
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6/9/2010 1:18:55 PM
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6/6/2008 9:34:12 AM
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Agenda Item Summary
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6/9/2008
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SUMMARY <br />In the last five years the Pavement Management System program has met goals and objectives <br />which have increased the City’s ability to maintain and improve the pavement condition of <br />our public road infrastructure system. <br />Implementation and collection of a five cent local gas tax was approved as a source for <br />revenue for the Pavement Preservation Program (PPP). This additional funding source <br />allowed for approximately 107 lane miles of streets to be rehabilitated through the Pavement <br />Preservation Program (PPP) administered by Public Works Engineering Division. <br />The current cost estimates for treatment of the improved system based on 2007 inspection <br />ratings and the local gas tax revenue indicate approximately a $173 million backlog at the end <br />of 2007. Ten years later in 2017, our backlog is $339 million. Our current revenue for <br />preservation is not adequate to reduce the backlog. <br />A funding level of $18 million will begin to reduce the backlog. With this funding level, <br />streets that need reconstruction will begin to be targeted and residential streets (the largest <br />portion of Eugene’s street network) will receive treatment. A funding level of $27 million is <br />needed to eliminate the backlog of reconstruction needs over a ten year period. <br />20 <br />
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