Benefit and Cost Metrics

2020-2043 Total Benefit and Cost (in Thousands of 2020$) 

Before Discounting

Discounted at 3%

Discounted at 5%

Discounted at 7%

Project Benefit 

Travel Time Saving

$5,401

$3,546

$2,738

$2,149

Fuel Saving

$14,300

$9,388

$7,249

$5,691

GHG Reduction

$3,331

$2,152

$1,644

$1,277

Safety

$14,138

$9,281

$7,167

$5,626

Public Health

$222

$149

$117

$94

Total Benefit

$37,392

$24,517

$18,915

$14,837

Project Cost 

Capital

$15,549

$14,594

$14,006

$13,455

Construction Delay

$94

$88

$85

$81

O&M

$493

$335

$265

$213

Total Cost

$16,136

$15,018

$14,356

$13,749

Total Net Benefit

$21,257

$9,499

$4,559

$1,089

Benefit/Cost Ratio

2.32

1.63

1.32

1.08

Internal Rate of Return

7.8%

N/A

N/A

N/A

Criteria

How the Project Satisfies Criteria

PRIMARY

Safety

1. Eliminates an estimated 101 crashes on NE 4th St and 28 crashes on NE 8th St over the next 20-year analysis horizon.
2. Produces an estimated social cost savings of $5.6 million.
3. Separates motorized and non-motorized traffic, reducing bicycle- and pedestrian-involved crashes.
4. Improves the road conditions and ADA compliance, as well as upgrades the roadway lighting which are currently not to standard.

State of Good Repair

1. The project will improve the condition of existing transportation facilities by redesigning and reconstructing 0.77 miles of roadway in a dense residential/mixed-use neighborhood adjacent to the urban core of Downtown Fort Lauderdale.
2. Filling the Gaps will benefit all users, not only bicyclists and pedestrians, by improving curb and gutter conditions, ensuring the latest design standards are incorporated, and extending roadway service life through mode shift over time.
3. The road segments are city-owned and therefore, will continue to be funded and maintained by the City of Fort Lauderdale.

Economic Competitiveness

1. Within a ½ mile radius of the project sites, there are 33,699 job opportunities --equaling an employment density that is 14 times greater than all of Broward County-- and 2,837 residential units.
2. Complementing the revitalization of the area, this project will improve access to jobs, major points of interest, and multiple modes of transit. As part of a larger complete streets network in Downtown, the proposed project will result in near-term access to affordable and sustainable multimodal transportation options.
3. The project sites are located in the service area of five Broward County Transit routes. Residents on 4th St benefit from a walking distance of less than ½ mile from the Fort Lauderdale Mobility Hub which consists of an express intercity rail station (Brightline) and a bus transit hub with 15 bus routes.
4. The project represents Phase 1 in filling the gaps in the complete street network. To date, the City and its partners have invested in 2.5 miles of similar improvements, all within a ½ mile radius of the project. Together, the complete streets network effectiveness of existing and proposed user-friendly facilities in the area will yield 967,392 hours of travel time savings for both motor vehicle and active transportation, and 5.7 million gallons of gasoline consumption reduction over the next 20 years.
5. Construction of the project will generate an estimated 172 direct jobs and 143 indirect/induced jobs for the area – particularly beneficial in the short-term to reduce COVID-19-related unemployment.

Quality of Life

1. The project makes walking and bicycling safer and more feasible within Flagler Village and to major transportation hubs by constructing:
   1. New shared use paths (wide sidewalks)
   2. New pedestrian lighting
   3. New pedestrian crosswalks with associated MUTCD signage
   4. Upgraded ADA accommodations
   5. Upgraded stormwater drainage and utilities
   6. New shade trees, planting, and groundcover
   7. New wayfinding signage and gateway feature elements
   8. Street furniture including benches, trash receptacles, bike racks, fitness stations, and dog stations
   9. Milling and resurfacing of the roadway with new pavement markings.
2. Improves traffic flow by shifting pedestrians and bicyclists off the main road.
3. Improves east-west connectivity and connectivity to major roads/highways.
4. Provides connectivity for residents of Flagler Village and Downtown to the area’s major employment, recreational, medical, and educational destinations.

Environmental Sustainability

1. The project is scheduled to begin NEPA this summer and will mostly likely be classified as a Categorical Exclusion (CE) due to its negligible environmental impacts.
2. Eliminates an estimated 49,000 metric tons of carbon dioxide through 2043, with a monetized environmental benefit of $1.3 million in present-day dollars.
3. Induces mode shift and reduces vehicular emissions and fuel consumption.
4. Improves a developed urban area and does not adversely impact ai or water quality or endangered species.
5. The project utilizes green stormwater infrastructure and Best Management Practices will be evaluated as part of the overall stormwater management strategy.

SECONDARY

Innovation

1. Innovative Technologies: The DDA plans to work with Broward County’s newly established Innovation Office to come up with smart technologies and innovations to explore as part of the project including integration with initiatives being advanced through the Transportation Surtax Innovation Districts. Examples may include the use of smart cameras and counters, the use of surface treatments that reduce the ambient temperature, or that use the sun to power a lit pathway at night.
2. Innovative Project Delivery: Filling the Gaps is sponsored by the Fort Lauderdale DDA, an independent taxing district that collaborates with public and private stakeholders to facilitate investment, community engagement, and consistent improvement in Downtown Fort Lauderdale.
3. Innovative Financing: None – DDA is using traditional sources of funding.

Partnership

1. Project development, support, and funding partners span the regional and local levels of government as well as the private sector.
2. The project is supported by major private investment stakeholders in the area.
3. The project is a collaborative effort among the DDA, the City of Fort Lauderdale, the Broward MPO, and Broward County.
4. The need for the project has been underscored in plans by local and regional planning organizations for more than 10 years, including:
   1. 2003 Downtown Master Plan
   2. 2013 LRTP Mobility Hub Designation
   3. 2003 Downtown Master Plan
   4. 2013 Downtown Walkability Study
   5. 2014 Flagler Village Walk Audit
   6. 2014 Connecting the Blocks Plan
   7. 2015 Fort Lauderdale’s CIP
   8. 2019 Mobility Hub Construction
   9. 2019 City’s NE 4th Street CIP
   10. 2019 ULI National Advisory Services Panel
   11. 2020 DDA Strategic CIP

 Funding Source

Amount 

Percentage of Total 

DDA Commitment

 DDA Bond Capital Funds

$609,700 

3.9% 

City Commitment

 City’s Community Investment Plan FY 2021

$500,000 

3.2% 

 City’s Community Investment Plan FY 2022

$500,000 

3.2% 

 City’s Community Investment Plan FY 2023

$1,000,000 

6.4% 

 City’s Community Investment Plan FY 2024

$500,000 

3.2% 

 Subtotal Committed Funds

$3,109,700 

20.0% 

 BUILD Grant Requested

$12,438,800 

80.0% 

Total Project Funding: $15,548,500 

 Component Phase

NE 4 Street 

NE 8 Street 

 Design

$452,100 

$396,000 

 CEI

$301,400 

$264,000 

 Construction

$7,535,000 

$6,600,000 

 Subtotal

$8,288,500 

$7,260,000 

Total Project Budget: $15,548,500 

 Linear SF

2000 

2000