City of Aiken Stormwater Capital Improvement
Individuals, businesses, and cities can make capital improvements to the property they own. A capital improvement is a durable upgrade, adaptation, or enhancement of a property that increases its value, often involving a structural change or restoration. Capital improvements typically increase the market value of a property but may also expand the usefulness of the asset beyond its current state. It’s a tool that communities can use to ensure their infrastructure and public services improve over a multi-year period. Once this tool is developed, it should be viewed as a working document that must be reviewed and updated annually to reflect changing community needs, priorities, and funding opportunities to ensure that the infrastructure exists to advance the community’s strategic and long-term goals and objectives.
A Capital Improvement Plan (CIP) contains all the individual capital projects, equipment purchases, and major studies for a local government; in conjunction with construction and completion schedules, and in consort with financing plans. The plan provides a working blueprint for sustaining and improving the community’s infrastructures. It coordinates strategic planning, financial capacity, and physical development. A CIP stands at the epicenter of a government’s Planning, Public Works, and Finance departments.