03/13/2017 City Council Agenda - Laserfiche WebLink

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Projected Funding for Pavement Preservation Program FY16 through FY22 From the inception of the Pavement Preservation Program (PPP), Eugene has been faced with the challenge of securing adequate, sustainable funding for this program. Currently there are several sources that contribute funding for pavement rehabilitation and reconstruction projects. The primary source of ongoing revenue is the City's local motor vehicle fuel tax ("gas tax"), which is currently levied at 5 cents per gallon. The reimbursement component of Transportation System Development Charges (SDCs) have historically generated close to $800,000 per year for PPP projects. In the current economic environment, building permit activity continues to be low, reducing the level of this funding stream. The cumulative effect of these factors is that PPP annual revenues, which were once projected at $4.2 million per year, are now projected to level out at approximately $3.3 million per year In 2008, voters approved a $35.9 million dollar bond measure dedicated to 32 street preservation projects and shared -use path rehabilitation work. Based on numerous economic factors construction bids were significantly less than anticipated allowing 22 streets to be added to the original 32 streets approved by voters. In 2012, voters approved a second $43 million bond measure dedicated to 76 street preservation projects plus $516,000 annually to support bicycle and pedestrian projects. The measure will generate approximately $8 million annually for FY 14 through FY 18. With the funding identified approximately 112 lane miles of City streets and will be repaired. To date approximately 3 miles of off-street shared -use paths have been repaired. Projected Funding Sources Pavement Preservation Projects FY16 through FY22 Notes: 1) Local Motor Vehicle Fuel Tax (gas tax) revenues are assumed at the 5 -cent level throughout the forecast period. 2) SDC reimbursement revenue is projected to maintain low level of activity through the forecasted period. 3) November 2008 voters passed a five year bond measure for pavement preservation backlog. November 2012 voters passed a second five year bond measure starting FY 15. 4) "Other" revenue generally includes investment interest, permit fees and other miscellaneous resources. The estimate year's does not include reimbursements from other agency. 17