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<br /> f g <br /> i <br /> l <br /> g ~ Overview <br /> I <br /> j Capital Projects <br /> : i <br /> f <br /> ' _ A capital project is defined as an activity that creates, improves, replaces, repairs, or maintains <br /> a fixed asset and results in a permanent addition to the City's inventory. This is accomplished <br /> through one or more of the following: <br /> Acquisition of property; <br /> Construction of new facilities; and/or <br /> I n ~ 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, buildings, streets, bike paths, bridges, <br /> stormwater drains, and wastewater systems. Equipment, such as the hardware attached to or <br /> <br /> I <br /> purchased with the .land or building, is also included. The purchase of vehicles is not <br /> J considered a capital project. <br /> ^ ~ ital ro'ects are enerall lar a-scale endeavors in terms of cost, size and benefit to the <br /> Cap p ~ g Y g <br /> ` community. 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 /> The Capital Improvement Program (CIP) forecasts the City's capital needs over a six year <br /> j ~ period based on various City-adopted long-range plans, goals and policies. The City updates <br /> ~ ~ the CIP every two years. <br /> CIP Goals ~ ~ I <br /> The goals of the CIP are to: <br /> • Provide a balanced program for capital improvements given anticipated funding revenues <br /> over asix-year planning period; <br /> • Illustrate unmet capital needs based on anticipated funding levels, and; <br /> Provide atwo-year plan for capital improvements which can be used in preparing the ' <br /> Capital Budget for the coming two fiscal years. <br /> City of Eugene 2000-2005 Capital Improvement. Program <br /> Overview <br /> 1 <br /> I <br /> i <br /> <br />