A Capital Improvement Program (CIP) is a critical tool to implement the Town’s Master Plan. It is a six-year schedule of projects required to be constructed or to purchase needed capital facilities and / or equipment consistent with the continued growth and development of the Town. Streets, bridges, water and sewer systems, community center, schools, and major acquisitions of equipment are all considered capital improvements. For this CIP, a capital improvement project is defined as: Any expenditure for a project, facility or equipment having a useful life of at least 3 years, and requiring a gross expenditure of at least $10,000.00.
Benefits of a CIP include:
- Maintain infrastructure and public facilities.
- Promote economic development and enhance quality of life.
- Promote public discussion.
- Promote overall financial planning.
- Establish a prioritized and clearly defined project schedule.
- Support growth management and impact fee ordinance.