TITLE: Title
Capital Improvements Plan, FY 2017-18 through FY 2021-22
PURPOSE: To present to the Board of Aldermen a proposed 5-year Capital Improvements Plan (CIP),
bodyDEPARTMENT: Finance
CONTACT INFORMATION: Arche McAdoo, 918-7439
INFORMATION: Attachment B is the proposed Capital Improvements Plan (CIP) for FY 2017-18 through FY 2021-22. This is a planning tool used to identify the Town's immediate and long-term capital needs. It identifies needed capital investments for property, plant or equipment acquisitions and renovations to implement the Board of Aldermen's vision and strategic priorities for the Town. The CIP does not make any appropriation of funds for a particular project. Capital projects are funded by the Board of Aldermen in the annual general fund budget or through adoption of a Capital Project Ordinance.
Town staff develops and maintains a projection of capital projects for the next five years based on previous capital plans, community needs assessments, and projects approved by the Board of Aldermen.
Projects in the CIP fall into one of the following classifications:
* Infrastructure projects (e.g., purchase, construction or renovation of buildings, purchase of land, construction of parks and greenways, sidewalk construction, etc.) that cost $100,000 or more and require several years for completion.
* Vehicles and Equipment replacements that cost $30,000 or more per unit. As a general rule, vehicles with less than 100,000 miles will not be replaced unless it is determined to be a "lemon" and annual repairs in a two year period exceed the cost of a new vehicle. Beginning in 2016 all vehicles for purchase must reflect fuel efficiencies as identified in the Town's Strategic Energy and Climate Protection Plan.
* Information Technology (IT) projects which cost $50,000 or more that are designed to increase or provide new technology capacity. IT projects related to software replacements, upgrades or maintenance costs are provided for i...
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