When looking at the long term sustainability of any municipality, capital planning is a critical component. To consider projects and develop business cases for justification effectively, it is important to understand the high level priorities of capital.
Categorizing capital projects in business cases with identified attributes helps to link the projects to long term priorities for evidence based decision making. Finding the right balance of priorities that match capital spending to funding available is the goal.
- Capital projects that facilitate development (attract business and residents)
- Capital projects that serve residential growth (service population growth)
- Maintenance of current infrastructure
- Replacement of infrastructure
- Assets that add value to the community