Which of the following best describes capital projects?

Capital projects are primarily focused on long-term investments aimed at developing infrastructure, such as roads, bridges, and buildings. These projects often require significant financial resources and are typically financed through bonds and grants due to their extensive costs and long-duration benefits.

The nature of capital projects is such that they involve substantial investment upfront with the expectation of a return that benefits the public or the organization over a prolonged period. This distinguishes them from other options that involve shorter-term financial commitments or operational activities.

The financing of capital projects through bonds and grants allows municipalities and governments to manage large-scale developments without immediate budget impacts, leveraging future revenue or funding sources to cover the costs over time. Thus, option B effectively encapsulates the essence of capital projects in terms of investment strategy, financing mechanisms, and their long-term impact on infrastructure.