Creativity is defined as the ability to produce novel, useful, and surprising ideas. A sub area of creativity is creative problem solving, the capacity of an agent to discover novel and previously unseen ways to accomplish a task, according to its perspective. While creative problem solving has been extensively studied in AI, the related concept of repurposing - identifying and utilizing existing resources in innovative ways to address different problems from their intended purpose - has received less formal attention. This paper presents a theoretical framework that distinguishes repurposing from creative problem solving by formalizing both approaches in terms of conceptual spaces, resource properties, and goal achievement mechanisms. We demonstrate that while creative problem solving involves expanding the conceptual space through transformation functions, repurposing operates within existing conceptual spaces by leveraging shared properties of available resources. This formalization provides new insights into how these two approaches to problem-solving differ in their fundamental mechanisms while potentially complementing each other in practical applications.