Joint Committee Committee on Capital Development (03/02/2010)

Final
STAFF SUMMARY OF MEETING

COMMITTEE ON CAPITAL DEVELOPMENT

Date:	03/02/2010	ATTENDANCE

Time:	08:03 AM to 08:24 AM	Kopp	*
		McFadyen	E
Place:	SCR 356	Schwartz	X
		Sonnenberg	X
This Meeting was called to order by		Riesberg	X
	Senator Bacon	Bacon	X

This Report was prepared by
	Kori Donaldson
		X = Present, E = Excused, A = Absent, * = Present after roll call

Bills Addressed:		Action Taken:
Consideration of Amendment to Two-Year Projection of Cash Need Prioritization of FY 2010-11 Capital Requests		Pass Witness Testimony and/or Committee Discussion Only

08:03 AM -- Consideration of Amendment to University of Colorado Denver Two-Year Projection of Cash Need

The committee was called to order. A quorum was present. Ms. Kelly Fox, Vice President and Chief Financial Officer, University of Colorado system, presented a revision to the University of Colorado Denver's Two-Year Projection of Cash Need. Committee members received a copy of the revised request, prepared by Legislative Council Staff (Attachment A). Ms. Fox outlined one new project added to the previously approved list: Research Complex 1, Energy Conservation Improvements, and explained that this project reflects an opportunity for energy savings. Ms. Fox responded to questions regarding the amount of energy cost savings that may be realized by the project. She also addressed questions about the expected rate of interest for bonds issued for the project.


BILL:	University of Colorado Denver
TIME:	08:09:41 AM
MOVED:	Schwartz
MOTION:	Approve cash funds spending authority ($55,489,920 CF) for the FY 2010-11 Revised Two-Year Projection of Cash Need (Attachment A). The motion carried on a vote of 5-0-1.
SECONDED:
		VOTE
	Kopp	Yes
	McFadyen	Excused
	Schwartz	Yes
	Sonnenberg	Yes
	Riesberg	Yes
	Bacon	Yes
Final YES: 5 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS

08:11 AM -- Prioritization of FY 2010-11 Capital Requests

The committee discussed the process for prioritizing state- and cash-funded capital requests for recommendation to the Joint Budget Committee. Committee members received a list of FY 2010-11 state-funded capital requests and a list of FY 2010-11 cash-funded requests, prepared by Legislative Council Staff (Attachments B and C, respectively). Committee members also received a description of each of the projects included in the Level I Controlled Maintenance request, prepared by Legislative Council Staff (Attachment D).

08:12 AM -- Ms. Lisa Esgar, Deputy Director, Governor's Office of State Planning and Budgeting (OSPB), came to the table to respond to questions about Attachment A, and to review the OSPB funding recommendations. She explained that the vast majority of requests listed in Attachment A will not be funded. Discussion ensued about the priority order of projects listed in Attachment A. Ms. Kori Donaldson, Legislative Council Staff, responded to questions concerning the source of funds requested for projects #1 through #5 on Attachment A.

08:19 AM

Representative Riesberg commented on the locations represented by Level I Controlled Maintenance projects. Ms. Esgar addressed questions about moneys available from the Higher Education Federal Mineral Lease Revenues Fund for certificates of participation (COP) payments for 12 higher education projects included in the November 2008 COP issuance. Senator Bacon stated that the prioritization of projects requested for FY 2010-11 would lay over until the meeting on Thursday, March 4.

08:22 AM

Representative Riesberg asked about the progress of the Department of Revenue, Colorado Integrated Tax Architecture project (project #5 on Attachment A). Ms. Donaldson explained that moneys would be requested for the project through FY 2012-13.

08:24 AM

The committee adjourned.