The Town of Lovettsville owns substantial capital assets within Town. These facilities require major improvements and replacement periodically due to new regulation requirements, aging infrastructure, or increased demand to the system. The improvements to East Broad Way between Park Place and the Community Center is one example of a project providing much needed improvements to an aging infrastructure that did not provide the needed functionality for the Town. The Town develops a Five-Year Capital Improvement Plan (CIP) to help budget and schedule for infrastructure needs. The CIP is revised every year during the budget process and includes plans to develop new facilities or make improvements to existing facilities. Existing capital assets include: