The Capital Improvement Planning Committee (CIPC) shall study proposed capital projects and improvements involving major non-recurring tangible assets and projects which:
- Are purchased or undertaken at intervals of not less than five years.
- Have a useful life of at least five years.
- Cost over Twenty-Thousand ($20,000) or more.
The Committee shall consider the relative need, impact, timing, and cost of these expenditures and the effect each will have on the financial position of the town.