Capital Improvement Project

A Capital Improvement Project is an improvement project that applies to a capital asset.

• Context:
  • It can result in a Capital Expense.
  • …
• Example(s):
  • adding a building to a park.
  • …
• Counter-Example(s):
  • a Training Project.
• See: Capital Improvement, Capital Improvement Plan, Capital Acquisition.

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References

2014

• http://www.portlandoregon.gov/cbo/article/50495?
  • QUOTE: A Capital Project is a project that helps maintain or improve a City asset, often called infrastructure. To be included in the Capital Budget, a project must meet ONE of the following requirements (criteria):
    • It is a new construction, expansion, renovation, or replacement project for an existing facility or facilities. The project must have a total cost of at least $10,000 over the life of the project. Project costs can include the cost of land, engineering, architectural planning, and contract services needed to complete the project.
      - OR -
    • It is a purchase of major equipment (assets) costing $50,000 or more with a useful life of at least 10 years.
      - OR -
    • It is a major maintenance or rehabilitation project for existing facilities with a cost of $10,000 or more and an economic life of at least 10 years.

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