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Antelope Valley Study - "The Big Picture"

Project Costs and Funding


Project Costs and Funding

Project Cost Estimates

Cost Estimates
(In Millions)

The proposed Phase 1 Projects would take approximately six to 10-years to construct at a cost of approximately $175 million in today's dollars. Subject to completion of detail plans, preliminary cost estimates include:

Type of Project Cost Estimate
TOTAL = $175 Million
[1999 Dollars] over 6 to 10 years
Waterway, Bridges, Trails & Landscape$54 million
Railroad Grade Separation Road Improvements$52 million
North-South & East-West Roadways with Trail & Landscape$36 million
East Downtown Redevelopment$13 million
Neighborhood Development & Closer-to-Home Strategies$9 million
Northeast Park & Trago Park$7 million
Community Wrap-Around Community Centers$3 million
Balance of Bike Trail Loop$1 million

Proposed Project Funding

Funding
(In Millions)

Funding for the $175 million Phase 1 Projects could come from a variety of federal, state, and local funding sources over a six to 10-year period:

Funding Source Amount
TOTAL = $175 Million
[1999 Dollars] over 6 to 10 years
Federal government, including Water Resources Funds, Road Demonstration Funds, Urban Development Grants, and Park Grants$49 million
State of Nebraska, including State Park Grant, Housing Funds, and a $25 million requested appropriation from the Nebraska Legislature for State benefits$28 million
City of Lincoln's share of the State of Nebraska gas tax monies, often referred to as State Road Funds$18 million
City of Lincoln's share of the federal gas tax monies, often referred to as Federal TEA-21 Road Funds$7 million
City of Lincoln, including Highway Allocation Funds, Urban Development Funds, and Park Development Funds$10 million
City bonded tax increment, generated by additional real estate taxes paid by the private sector based upon new development and rehabilitation efforts10 million
State and University land transfers$11 million
Burlington Northern Santa Fe Railway$12 million
Private investors, corporations and foundations$12 million
Lower Platte South Natural Resources District (LPSNRD)$10 million
Railroad Transportation Safety District$8 million

The proposed funding sources, spread over six to ten years, seem to be reasonable amounts to allocate to Antelope Valley-yet allowing other priority Partner projects to also be funded and built. Each year the Partners will need to formally approve their budgets, thus the funding numbers are deemed "proposed."

No significant increases in City property taxes are planned because of these capital improvements. Assuming the Antelope Valley Study receives "project" approval, the City's current Capital Improvement Budget and Plan for Fiscal Year 1999-2005 ("CIP") already includes the "place holder" transportation resources as stated above, while also continuing to fund the other City priority road projects.

The LPSNRD could apply to the Nebraska Natural Resources Commission for funds as well as use LPSNRD general funds.

As part of the funding, the State of Nebraska and the University of Nebraska-Lincoln will transfer property and right of way valued at approximately $11 million. The University will not divert nor use existing state general funds, or tuition revenue for the proposed Phase 1 Projects.

Under an amendment to the Interlocal Agreement, the three Partners will define responsibilities for the ongoing operating, maintenance, repairs, and replacement costs.

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Antelope Valley Study - "The Big Picture"