Sidewalk asset management: Financial modeling the total cost of sidewalks
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Agencies are beginning to recognize transportation asset management benefits, either from starting programs by choice or because of federal and state requirements. Managing transportation facilities as assets helps reduce the total cost of ownership by funding and programming routine, preventative, and corrective maintenance through a facility’s lifecycle. This process also leads to increased benefits returned to stakeholders. Pedestrian infrastructure lacks such a centralized management practice, for both funding and maintenance. This research identifies pedestrian infrastructure elements as assets and defines construction costs, common issues, repair costs, and maintenance practices. Element costs are used to create a model estimating the total cost of ownership for pedestrian infrastructure. Next, various funding pedestrian infrastructure practices and sources are discussed. Finally, the total cost of ownership model is applied in a case study that investigates the implications of adequate centralized funding based on available funding practices.