Capital Improvements Program Clause Samples
The Capital Improvements Program clause outlines the procedures and requirements for planning, funding, and executing significant upgrades or additions to property or infrastructure. Typically, this clause details how projects are identified, prioritized, and approved, as well as how costs are allocated among stakeholders or budgeted over time. Its core function is to ensure that major capital projects are systematically managed and funded, thereby promoting long-term asset value and operational efficiency while preventing ad hoc or uncoordinated improvements.
Capital Improvements Program. The City will initiate the construction of capital improvements necessary for providing municipal services for the annexation area as necessary. Any such construction or acquisition shall begin within two years of the effective date of the annexation and shall be substantially completed within 4 1/2 years after that date. Construction of any capital improvement within the annexation area will be done accordance with the established policies of the City.
Capital Improvements Program. The City has programmed drainage improvements to the ▇▇▇▇ ▇▇▇▇▇▇ tributary and flood control into the City’s Capital Improvement Program.
Capital Improvements Program. Not later than January 1, or as established annually by the City, of each fiscal year during the term of this Agreement or any renewal hereof, Contractor shall submit a proposed capital improvements six year plan (the “Proposed Capital Improvements Program”) to City for the up coming fiscal year beginning October 1st, through September 30th, and for five consecutive years thereafter. The Proposed Capital Improvements Program shall state and specify the following: 1) the capital improvement or equipment item over $50,000 requested; 2) the projected cost of the capital improvement or equipment requested; 3) prioritization of the capital improvement or equipment item requested; 4) the funding source; 5) justification for the capital improvement or equipment item requested, and 6) the impact of the capital expenditures over $50,000 on the operating budget. The Proposed Capital Improvements Program will be ranked by prioritization and funding. The Proposed Capital Improvements Program will be approved by the City Council each year before the onset of the Annual Budget. Any proposed capital improvement or equipment item approved by the Council for the next fiscal year will be incorporated into the upcoming Annual Budget for final approval.
Capital Improvements Program. 1. Financial Analysis • BV shall make a financial analysis of the municipality to the extent possible to determine the municipality's approximate ability to finance present and future capital improvements. The study should include, but not be limited to the following: a) Past, present, and anticipated sources and amounts of income; b) Annual budgets; c) Operating costs; d) Direct and overlapping public debt; e) Outstanding municipal bonds and their schedule of retirement; f) Public improvements financing practices; and g) Recommended standards concerning debt limitations. 2. Capital Needs List • Based on the previous studies, and all capital needs, BV shall prepare a capital needs list of projects by category with general priorities for improvements to be accomplished during the planning period through workshop meetings with local officials. BV shall classify the type of capital improvements according to guidelines, such as: a) Mandatory: Those which protect life or health. b) Necessary: Those which are important public services.
Capital Improvements Program. In consonance with the capital needs list and in coordination with the city’s budget, BV shall prepare a schedule of projects recommended for the municipality for the first five (5) to six (6) years of the planning period. The schedule shall list projects by category together with estimated cost, sources of funds and year of construction. • A map shall be prepared to show the projects by type and year of construction.
Capital Improvements Program. The City will initiate the construction of capital improvements necessary for providing municipal services for the annexation area as necessary. Each component of the Capital Improvement Program is subject to the City providing the related service directly. In the event that the related service is provided through a contract service provider, the capital improvement may not be constructed or acquired by the City but may be provided by the contract provider. The City may also lease buildings in lieu of construction of any necessary buildings.