1. Before the Department submits a proposal for a highway project to the Board for approval, the Department shall prepare a written analysis of the costs and benefits of the project. The analysis must state, for each highway district in which the project is proposed:
(a) The limits of the project;
(b) The period of analysis;
(c) The discount rate used in the analysis;
(d) The initial costs of the Department for the project, including any costs for design, engineering, the acquisition of land and construction;
(e) The future costs of the Department to preserve and maintain the project, discounted to present value;
(f) Any other costs of the Department for any other construction or any mitigation associated with the project;
(g) The costs to highway users for any loss of safety, delays in the time of travel and costs for the operation of vehicles that are associated with the project;
(h) The costs of any environmental impacts, including vehicle emissions and noise, that are associated with the project; and
(i) The value of the benefits of the project, including the value of any:
(1) Savings in the time of travel;
(2) Improvements to safety; and
(3) Savings in the cost of operating vehicles.
2. The analysis required by this section:
(a) Must include a discussion of any additional increases in costs that would result from any delays in the performance of any routine maintenance scheduled under the maintenance program of the Department;
(b) May include a discussion of:
(1) The costs of the project for any other persons and governmental agencies;
(2) The value of any other social, economic or environmental benefits or costs of the project; and
(3) Any costs or benefits which may result from the use of any alternative design, construction or financing practices; and
(c) Must be prepared in a format that allows for the comparison of proposed highway projects.
3. The analysis required by this section must be made available to the Board and the public when the agenda is posted for the meeting at which the proposal will be submitted to the Board for its approval.
4. As used in this section, “highway project” means a project that is expected to increase the capacity of the state highway system and cost at least $25 million.
(Added to NRS by 2007, 1590)
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