MORGAN CITY — Just under $4 million is the estimated total cost for repair work on streets within the city, according to an economic feasibility study the City Council commissioned for its November sales tax election to fund these repairs.
According to the study, prepared by Miller Engineers in Franklin, the work will cost about $3.96 million.
The streets included are Second and Sixth streets, Federal and Ditch avenues, Victor II Boulevard, David Drive, Veterans Boulevard, Youngs Road, and an area between Oceaneering International and InterMoor.
The bulk of the monies, about $1.37 million, will be dedicated to Victor II Boulevard, where asphalt patch, reconstruction and overlay all have been identified as needs.
The second priciest item of the plan includes Federal Avenue ($837,263), where asphalt patch and overlay is planned. This project will include Levee Road to Onstead Street and Bowman Street to Barrow Street.
Other work identified includes asphalt patch and overlay at Second and Sixth streets as well as Ditch Avenue, removal and replacement of concrete pavement on David Drive, Veterans Boulevard and Youngs Road, and an asphalt overlay between Oceaneering and InterMoor at McClelland Road.
The Second Street work includes Union to South Railroad and Railroad to Egle. It is pegged at $362,133.
The Sixth Street work includes Levee to South Everett and is pegged at $704,954.
The Ditch Avenue work, from Railroad Avenue to La. 182, is pegged at $153,590.
The Oceaneering/ InterMoor work is pegged at $10,165.
David Drive repairs span from Victor II Boulevard to La. 70 and are projected to cost $212,921; while Veterans Boulevard work, which includes the west and east lanes from Brashear Avenue to Fig Street, are pegged at $94,049.
Youngs Road work, estimated to cost $214,930, includes areas from Myrtle Street to McClelland.
Pricing for the work, which is subject to change depending on who is chosen for the work, was tabulated using Louisiana Department of Transportation and Development pricing.
On Nov. 19, Morgan City voters will determine whether any of this work gets done by passing or voting down a three-tenths cent sales tax to help fund road improvements throughout the city.
Voters’ approval will be sought to issue up to $4 million in revenue bonds for 10 years.
If the proposition passes and the bonds are issued quickly, Mayor Tim Matte said he is hopeful work could begin late in the first quarter or early second quarter of 2012.
“If we can get that done in the first quarter, I don’t know why either late in the first quarter or early second quarter we’re not at least overlaying those streets that don’t need a whole lot of work,” Matte said.
While all of the streets are of utmost priority, he said the ones that can be started the quickest will be the ones that will be undertaken first.
Depending on what contractors and city officials decide, street work could be ongoing in multiple areas at the same time.
With a three-tenths cent collection, the city expects to generate 2012 projection of $816,000 in sales tax collections as well as no more than $487,000 per year in debt service (at an interest rate of 4 percent) for the next 10 years. Using those figures, city officials have determined that they would have, on average, $413,900 per year to spend on roads. That figure includes an average of $84,900 in Road Royalty funding from the parish.
Matte said while the 4 percent debt service rate was used for the project calculations, the city’s bond attorney, Jerry Osbourne of Foley and Judell, a New Orleans bond attorney firm, said the rate should be lower.