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The Town’s Capital Improvement Plan represents a guide for maintenance and acquisition of capital assets. It is an important management tool because it helps evaluate the effects of large capital costs on the Town’s operating budget and financial standing in terms of debt burden and capacity.
Projects budgeted in the CIP generally include: - Acquisition of land. - Construction of a new facility or an expansion of an existing facility. - A non-recurring rehabilitation or a major repair to all or part of a building or its grounds. This should have a cost exceeding $100,000 and a useful life exceeding 10 years. - Planning, design, or engineering related to a capital improvement or other program.