Responsible City Agency: Capital Asset Management Division
Keywords: Capital Asset Projects, Capital Asset Projects Review Committee, Capital Asset Management Division
1. General
1.1 The City will benefit from an orderly, transparent course of action to address proposed significant infrastructure or resource projects. Such benefits may include, but not limited to: effective project planning, management, and coordination; evaluation of financing alternatives; stakeholder and public engagement; cost savings; and work flow prioritization.
1.2 The purpose of this policy is to establish the means to achieve the above benefits.
2. Scope
2.1 The means adopted in this policy shall address the planning, project development, financing, and budgeting for the City’s “Capital Asset Projects.” A Capital Asset Project (CAP) is a significant infrastructure or resource project, to included but not limited to: a building or other infrastructure construction, purchase, or major renovation; significant technology acquisition or development; and real property acquisition. A CAP typically has a useful life more than 5 years, costs more than $5 million, and is financed by bonds or other special funding sources. A capital project undertaken by an Enterprise Fund is not a CAP. However, any significant City infrastructure or resource project may be considered a Capital Asset Project at the direction of the Mayor or City Council. A CAP is not a recurring capital outlay item, a maintenance expense or acquisition of equipment unless the equipment is an integral part of a CAP.
2.2 All CAP activity shall coordinate whenever necessary with other City planning and budget processes, including the City’s Capital Improvement Program (CIP).
3. CAP Review Committee
3.1 A CAP Review Committee is established with the following members: Mayor or representative, Public Services Director, Public Utilities Director, Department of Airports Executive Director, Community and Economic Development Director, Fire Chief, Police Chief, City Attorney, Director of Capital Asset Management, Capital Improvement Program CIP Director, Finance Director, Budget Director, Chief Information Officer, and Salt Lake City Library Executive Director. The Committee may involve representatives of neighborhoods and the business community, as appropriate. The activities of the CAP Review Committee shall be managed by the Director for Capital Asset Management.
3.2 The CAP Review Committee is responsible for the following:
a. Develop comprehensive processes to advance the purpose of this policy relating to Capital Asset Projects;
b. Manage or monitor stakeholder and public engagement associated with CAP proposals;
c. Evaluate CAP proposals based on criteria adopted by the Committee and approved by the Mayor;
d. Rate CAP proposals and provide recommendations to the Mayor;
e. Provide reports to the Mayor, as appropriate or when requested;
f. Inform the City Council, as appropriate or when requested.
4. Capital Asset Management Division
4.1 The Capital Asset Management Division will support this policy by:
a. Assisting in the development and publication of Committee procedures relating to this policy;
b. Conducting preliminary evaluations of CAP proposals to assure completeness before consideration by the CAP Review Committee;
c. Supporting the administrative functions of the CAP Review Committee;
d. Support the creation of Committee minutes, reports, or other communication or activity.
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EFFECTIVE DATE: (Date signed by Mayor): January 15, 2010