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Overview <br /> Capital Projects <br /> ' A capital project is defined as an activity that creates, improves, replaces, repairs, or maintains a <br /> fixed asset and results in a permanent addition to the City's inventory. This is accomplished <br /> through one or more of the following actions: <br /> Acquisition of property; <br /> ' 1 Construction of new facilities; and/or <br /> • Rehabilitation, reconstruction or renovation of an existing facility to a condition which <br /> extends its useful life or increases its usefulness or capacity. <br /> ' Fixed assets include land, site improvements, parks, buildings, streets, bike paths, bridges, <br /> stormwater facilities, and wastewater systems. Certain types of equipment, such as the hardware <br /> attached to or purchased with the land or building, are also included. The purchase of vehicles is <br /> not typically considered a capital project. In certain purchases using federal funding, vehicles <br /> - may be included in the CIP. <br /> O Capital projects are generally large-scale endeavors in terms of cost, size and benefit to the <br /> cornrnunity. They involve nonrecurring expenditures or capital outlays from a variety of <br /> specifically identified funding sources and do not duplicate normal maintenance activities <br /> funded by the operating budget. <br /> Capital Improvement Program (CIP) <br /> t~ <br /> The Capital Improvement Program (CIP) forecasts the City's capital needs over asix-year period <br /> ' based on various City-adopted long-range plans, goals and policies. The City updates the CIP <br /> every two years. <br /> For a majority of the proposed capital projects, the CIP represents decisions that have occurred <br /> prior to the review of the draft CIP. These projects are included in the CIP to ensure that the <br /> document serves as a complete listing of all capital projects the City plans to begin to construct <br /> ` over asix-year period. Other projects in the CIP represent newly proposed capital spending on <br /> specific projects or generic categories of projects, such as general site and facility improvements <br /> . in the Public Buildings and Facilities section. The public review of the draft CIP is used to gather <br /> additional input and reach a final decision on .how the City should allocate its capital dollars over <br /> ' this period of time. <br /> CIP Goals <br /> The goals of the CIP are to: <br /> • Provide a balanced program for capital improvements given anticipated funding over a <br /> six-year planning period; <br /> Illustrate unmet capital. needs based on anticipated funding levels, and; <br /> • Provide a plan for capital improvements which can be used in preparing the Capital <br /> r Budget for the coming two fiscal years. <br /> . <br /> <br /> ( City of Eugene 2006 - 2011 Capital Improvement Program <br /> 3 <br /> _ <br /> <br />