A capital improvement is the addition of a permanent structural change or the restoration of some aspect of a property that will either enhance the property’s overall value, prolongs its useful life, or adapt it to new uses. Individuals, businesses, and cities can make capital improvements to the property they own. In a business or municipal sense, this process may also be known as capital expenditures—Read more at Investopedia. Chen, James. “Capital Improvement.” 25 June 2019.