REVISED COST ESTIMATE

A new cost estimate for the WTC has been prepared by VDOTÕs contractor. The major revision is in the cost of land acquisition.

Land cost per acre for the various categories of developed and undeveloped land was not explicit in the original draft - a nominal % of construction cost was used. This is the traditional way of doing preliminary estimates. The % is based on similar highways constructed in the recent past. A potential model might be the Prince William Parkway.

In the latest draft revision the costs are determined as follows:

• $10,000 per acre for unimproved (including farmland)
• $16,000 per acre for residential developments (includes anything from 1 dwelling per 3+ acres to 4+ dwelling per acre)
• $26,000 per acre for commercial/retail/industrial.

The result of this change is to reduce the cost of the WTC by between 23% and 27%.

The following tables provide data for Option E (Segments 1, 3, 5, 7 and 9) of the WTC for the 440 ft right-of-way.

Segment 1 Costs (millions of dollars)

	Old Cost	New Cost	Difference
Fixed Facilities (the actual road)	192.13	171.18	-10.9 %
Other Items at 40.5% of above	77.82	69.33	-10.9%
Right of Way Acquisition	61.95	9.35	-84.9%

Segment 3 Costs (millions of dollars)

	Old Cost	New Cost	Difference
Fixed Facilities (the actual road)	153.29	131.38	-14.3 %
Other Items at 40.5% of above	62.08	53.21	-14.3%
Right of Way Acquisition	39.09	7.62	-80.5%

Segment 5 Costs (millions of dollars)

	Old Cost	New Cost	Difference
Fixed Facilities (the actual road)	95.92	92.74	-3.3 %
Other Items at 40.5% of above	38.81	37.56	-3.3%
Right of Way Acquisition	34.39	4.46	-87.0%

Segment 7 Costs (millions of dollars)

	Old Cost	New Cost	Difference
Fixed Facilities (the actual road)	124.75	112.96	-9.5 %
Other Items at 40.5% of above	50.52	45.75	-9.5%
Right of Way Acquisition	47.60	5.02	-89.5%

Segment 9 Costs (millions of dollars)

	Old Cost	New Cost	Difference
Fixed Facilities (the actual road)	212.19	191.36	-9.8 %
Other Items at 40.5% of above	85.94	77.50	-9.8%
Right of Way Acquisition	62.07	7.43	-88.0%

Summary (millions of dollars)

	Old Cost	New Cost	Difference
Fixed Facilities (the actual road)	778.28	699.62	-10.1 %
Other Items at 40.5% of above	315.17	283.50	-10.1%
Right of Way Acquisition	245.1	33.88	-86.2%

TOTALS (millions of dollars)

	Old Cost	New Cost	Difference
	$1338.55	$1017.00	-24.0%

RIGHT-OF-WAY ACQUISITION COST AS A % OF THE TOTAL:
OLD COST ESTIMATE = 18.3%
NEW COST ESTIMATE = 3.3%.

THE COST OF RIGHT-OF-WAY ACQUISITION
HAS BEEN REDUCED BY A FACTOR OF 7.25

On to Part 3: Disney's America Traffic Projections

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