Guidance in remedying/preventing deferred maintenance at colleges is provided, along with suggestions for action at the national and campus levels. The content is geared to recognize differences between the public and independent sectors, between institutions by size, mission and objectives, and regional influences on facilities. Information on estimated building replacement values is included. Approaches to selecting priorities for capital renewal and replacement are also covered, based on a systematic approach for policy decisions. The concept of grouping projects for cost effectiveness in the form of decision packages is introduced, along with a method for ranking priority levels of projects (i.e., necessary, suitable for reduction in scope and cost, or deferrable). In reviewing methods for establishing annual levels of funding, attention is briefly directed to existing formula methods, life cycle concepts, and replacement methods. Also outlined are techniques for institutional fiscal analysis of resources allocated to capital renewal and replacement requirements. Sources of funding for renewal/replacement (annual budgets, external sources, and innovative techniques) are discussed, and ways to build constituencies and formulate policy are suggested. (SW)