What Is a Capital Project?
A capital project is a long-term, capital-intensive investment project with a purpose to build upon, add to, or improve a capital asset. Capital projects are defined by their large scale and large cost relative to other investments that involve less planning and resources.
In the Town of Gibsons, a capital project usually refers to a cost-intensive initiative that will improve the value and service capacity of our infrastructure (e.g. the Whitetower Pond upgrade), or help us maintain our infrastructure (e.g. the purchase of a new dump truck).
In the 2023 Budget, $9.2 million has been proposed for capital projects. This would include the following projects:
Sanitary Sewer Capital Projects- $1,820,600
- Centrifuge Replacement ($950K)
- Emergency Diesel Pump ($200K)
- Strategic Plan Update ($135K, 2022 carry-over)
Water Capital Projects – $2,114,300
- Well 6 Facility ($964K, 2022 carry-over)
- Venture Way and Cascade Crescent Watermains ($472K)
- School Road Reservoir Seismic Assessment ($100K)
General Capital Projects – $ 5,264,000
- Whitetower Park Pond ($1.51M)
- Pebbles Beach Access Restoration ($231K)
- OCP Update ($110K)
View the related spreadsheets:
The 5-Year General Capital/Project Plan for 2023 to 2027 is scheduled to be presented on March 28, 2023.
Previous related documents from 2022:
- Planned 2022 Water Projects
- Planned Water Projects 2022 – 2026
- Planned 2021 General Capital Projects
- Proposed 2021 – 2025 General Capital Projects
