2003-12-23 CC Packet - Laserfiche WebLink

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:! "1 INTRODUCTION What is a Capital Improvement Plan? The Centerville Capital Improvement Plan (CIP) is a schedule of proposed public projects and purchases ranked in order of priority. over a five year period. A Capital Improvement is an improvement or purchase whose life expectancy exceeds the financing period of the item or the purchase is equal to or greater than $5,000. Said improvements could include acquisition ofland or buildings, construction or replacement of public buildings and/or facilities, streets, utilities, storm water management, parks, equipment, and vehicles. The Plan also addresses the level of service since it includes the purchase of equipment and vehicles. Purpose: A major responsibility for many metropolitan area communities is providing needed Capital Improvements to serve both the present and future'services and infrastructure requirements of the community. The purpose of the Capital Improvement Plan is three-fold. First, it identifies capital expenditures which will be requested over the five-year period. Second, the Capital Improvement Plan determines a source of funding for requests. Third, it provides an opportunity for long-term planning. The Capital Improvement Plan should be a map and a guide to the users of where the City wants to go and how it Will get there. Once the Plan is formulated, it should not be put aside and forgotten. In order to gain maximutn use out of the Plan, there needs to be a conStant revision process that maintains the integrity and accuracy of the picture the Plan represents. The Plan not only tells the reader if goals are being met successfully, but helps facilitate negotiation and decision making if the financial or political environment changes. As comtnunities grow, they must plan more specifically and further into the future to create a proactive system of maintenance and service rather than a reactive system of repairs. As the CIF is developed and utilized, it becomes an even more valuable tool for city management and project implementation. CIP Steps: 1. Identify the public facilities required to serve existing residents and to accommodate future growth for the next five years. 2. Determine the priority and timing of the proposed improvements to coincide with direction of the Comprehensive Plan. The CIF is directly linked to the land use and public facility sections of the City's various Master Plans and Comprehensive Plan. 3. Determine the source of funding for the proposed improvements. 4. Annually monitor the progress of the CIF, conducting periodic updates to ensure the intent of the CIF as an effective planning tool. 1