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Pages 37-40

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From page 37...
... 37 Financial Costs Total Project Costs The total project cost, or life-cycle cost, is the amount of money a project costs for pre-construction planning and design; required property acquisition; construction of the project; O&M costs throughout the life of the project, including periodic repairs or replacement costs; and disposal or decommissioning costs at the end of the project's life. O&M costs can be positive, negative, or zero, depending on whether the project will increase, decrease, or have no net effect on O&M costs compared with existing costs.
From page 38...
... 38 Incorporating the Costs and Benefits of Adaptation Measures in Preparation for Extreme Weather Events and Climate Change -- Guidebook Delays During Construction and Implementation Construction of a transportation project might cause delays for system users, in some cases necessitating detours. The costs associated with these delays and detours will be included in the costs of the project (Equation 4 and Equation 5)
From page 39...
... Common Costs 39 Environmental and Social Costs Construction of a transportation project could have short- and long-term environmental and social impacts. Potential short-term impacts associated with the act of constructing the project would generally be included with construction costs.
From page 40...
... 40 Incorporating the Costs and Benefits of Adaptation Measures in Preparation for Extreme Weather Events and Climate Change -- Guidebook For this particular project, the Virginia DOT determined that the social and environmental costs would be negligible; no critical habitats will be adversely impacted, nor will any permanent noise or air quality issues arise. Costs were also evaluated using a 3 percent discount rate, as shown in Table 8.

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