Capital Improvement Plan
CIP Structure
The CIP is organized based on several core project categories that encompass the capital projects generally completed by the Town . Multiple subcategories are included within each broad category to provide additional detail . The following summarizes the current CIP categories :
� PARKS – Includes various projects necessary to develop and enhance park , recreational and cultural
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TRANSPORTATION – Includes projects required to expand or maintain the Town ’ s transportation network
GENERAL GOVERNMENT – Includes projects associated with Information Technology , facility development including land acquisition and economic development
STORMWATER – Includes maintenance-related projects primarily identified as part of the stormwater conveyance infrastructure study
CAPITAL RENEWAL – Includes various maintenance projects identified as part of the Public Facilities Repair & Maintenance ( PFRM ) program
Funding Sources
Based on the limited resources of the Town , multiple funding sources are utilized to pay for projects . Diversifying revenue sources enhances the ability to fund projects in an appropriate timeframe . Grant funding typically falls under Partner Agency Funding or Other Funding and may require a match . While the Town is constantly looking for additional options to fund projects , the list below summarizes the sources generally utilized :
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TRANSFER FROM GENERAL FUND – Funding appropriated as part of the annual budget process
2021 BOND PROCEEDS – Funding approved by voters in 2021 as part of a bond referendum to address specific requirements
FUTURE BOND PROCEEDS – Anticipated funding which will require voter approval as part of a future bond referendum
FEE IN LIEU – Fees paid by developers to cover a portion of the costs to provide public services
APPROPRIATED FUND BALANCE – Funding appropriated from General Fund or Debt Service Fund balance
LAPP GRANT – Funding provided by regional , state or federal organizations such as the NC Capital Area Metropolitan Planning Organization ( CAMPO )
OTHER – Funding identified by staff from alternative source
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