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Capital Improvement Project

A specific undertaking involving the procurement, construction, or installation of facilities and related equipment, which improves, preserves, upgrades, or modernizes existing assets

The budget unit to group all activities and costs necessary to implement a specific capital improvement and/or acquisition. A project can include the construction, acquisition, expansion, replacement, or rehabilitation of a physical facility or improvement. Projects often include planning and design, land acquisition, and project management costs related to such facilities and improvements. 

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