There are numerous benefits associated with adopting a Capital Improvement Program, including:
-Highlights the City’s needs and stimulates action to address those needs.
-Focuses on preserving infrastructure while ensuring efficient use of public funds.
-Systematic and comparative evaluation of multiple potential projects at the same time.
-Allows the City to stabilize debt and consolidate projects to reduce borrowing costs, if financing is needed.
-Serves as a public relations and economic development tool.
-Promotes coordination of projects across City departments, allows integration with other governmental agencies, and helps identify efforts that may qualify for grant funding
-Helps City forecast and coordinate long-term needs
-Allows effective time to plan for large projects
-Allows the City to comply with state mandates