Sec. 122.602. - Definitions.

As used in this Part 6, the following terms shall have the following meanings: (a) Capital Improvement Project. Excluded from the term and definition of Capital Improvement shall be all Community Redevelopment Area Projects. "Capital Improvement Project" means a planned undertaking of the City or an independent agency that leads to the acquisition, construction, removal, alteration, demolition, rehabilitation, or extension of the useful life of capital assets. Capital assets include things such as land, buildings, parks, streets, utilities, and other items of value from which the community derives benefit. To constitute a capital improvement project, the project must: 1. Have a total cost greater than $100,000 and a useful life of more than ten years. 2. Be a one-time outlay, which is non-recurring in nature. 3. Add to, enhance the value of, or extend the life of the City's physical assets. 4. Major equipment purchases must be associated with a Capital Improvement Project and must meet the criteria in item 1 above in order to be included as a Capital Improvement Project. Any project which meets the definition of a Capital Improvement Project must be included in the Capital Improvement Plan, regardless of funding source. 5. Excluded from the definition of Capital Improvement Projects are: i. City vehicular equipment purchases. Fleet appropriations are to be considered within the Operating Budget. ii. Expenditures for maintenance supplies and materials or replacement items which shall be budgeted as operating items. iii. Purchases involving ongoing debt service or lease/purchase costs which shall be budgeted in the Operating Budget. iv. All routine resurfacing of streets, recurring annual items and routine maintenance and repair. (b) Capital Improvement Plan. The Capital Improvement Plan (CIP) is a comprehensive five-year plan of proposed capital improvement projects, intended to identify and balance the capital needs of the community within the fiscal capabilities and limitations of the City budget. It is a significant element of the annual budget process and intended to be binding on future years in order to fulfill the purposes set forth above. While the CIP is updated annually and subject to change as emergencies arise or projects are delayed by circumstances beyond our control, the annual focus primarily will be on the fifth year of the plan as new projects are added. The first year of the plan is the basis for actual appropriations authorized by the City Council for capital projects when adopting the Annual Budget. The remaining four years establish priorities for future capital improvement projects. (c) Capital Improvement Plan Budget. Capital Improvement Plan Budget shall be submitted annually with the City Annual Budget and is the first year of the Capital Improvement Plan. The required elements of the Capital Improvement Plan Budget are set forth in Section 122.603 (b), Ordinance Code. (Ord. 2006-185-E, § 2; Ord. 2015-429-E , § 1; Ord. 2024-46-E , § 3)