Cost per Square Yard for Streets, Overlays and Sealcoats X Depreciation Rate X Area of Influence (1) | |||||||
Depreciation Rates | Cost Per Square Yard (3) | ||||||
Street (2) | Overlays | Type | Cost | ||||
Age | Rate | Age | Rate | Age Rate | Type | ||
Cost per Square Yard for Streets, Overlays and Sealcoats X Depreciation Rate X Area of Influence (1) | |||||||
NOTES TO TABLE: (1) Area of influence is equal to area of the cut plus 3.0 feet on each side (expressed in sq. yds.) (2) Depreciation rates are based on a 30-year street design standard. Depreciation for the first 5 years is 1.0% per year, followed by straight line depreciation less 15.0% for the remaining street design standard (25 years). Depreciation can occur at 1.0% per year after this time for up to 15 years or street reconstruction, whichever occurs first. | |||||||
(Prior Code, § 165.26.4) (Ord. 503, passed 7-7-2005; Ord. 577, passed 11-6-2014)