Frequently Asked Questions (FAQs)
What is a Capital Investment Plan (CIP)?
The City’s Capital Investment Plan is a five-year infrastructure plan that funds the highest priority capital investments required to maintain the growth and economic vitality of our growing community. The Capital Investment Plan invests in projects that generate the most benefit and impact to the entire community through: creating jobs and growing the tax base; leveraging public and private investments; enhancing public safety; enhancing transportation choices and mobility; ensuring housing diversity; and providing integrated neighborhood improvements. The CIP encompasses investments in roads, neighborhoods, housing diversity, storm water projects, transit, water and sewer projects, the airport, and government facilities.
Why is a Capital Investment Plan important?
With the rapid rate of growth in Charlotte, it is critical that the City invest in infrastructure that ensures our residents have access to transportation choices, diverse and affordable housing, and safe and livable neighborhoods throughout our community. The plan allows the City to schedule investments and identify appropriate funding for the replacement of aging and inadequate public infrastructure and to address new infrastructure needs associated with a growing community.
What has changed about the CIP?
Beginning in 2013, the City expanded its review of community infrastructure needs to determine which capital projects can best serve as catalysts for holistic and transformative change. City Council approved a capital plan that seeks to reach broader geographic areas and to incorporate innovative and creative approaches to leverage limited resources into projects that can truly transform our community. The Capital Investment Plan reflects the City’s previous strategy toward investment; however the approach has grown to be more collaborative, forward thinking, and data driven in order to maximize resources and attract more investment partners. The revitalized plan is a collection of interconnected infrastructure investments that support transportation choices, economic growth and vitality, and a livable community. This new Capital Investment Plan emphasizes a renewed a sense of ownership in creating what Charlotte becomes, and encourages a greater level of engagement from the community.
How were projects selected for the Capital Investment Plan?
The investment projects included in the City Council approved Capital Investment Plan were identified through analyzing community data and working with Mecklenburg County, the private sector and other partners to determine what type of projects would truly put this community on a trajectory of greater economic opportunity. Collectively, the projects were selected to achieve the greatest level of community impact, generate new residential and commercial development, stimulate job growth, and strengthen the City’s competitiveness regionally, nationally, and globally.
What is the potential overall economic impact of the CIP?
Based on a demand market impact analysis by a third-party consultant, the CIP is estimated to generate $2.2 billion in new residential and commercial development and stimulate the creation of more than 18,000 new jobs over the next 20 years.