Date: 02/04/2014

Final
BILL SUMMARY for HB14-1093

HOUSE COMMITTEE ON BUSINESS, LABOR, ECONOMIC, & WORKFORCE DEVELOPMENT

Votes: View--> Action Taken:
Adopt amendment L.003 The motion passed without ob
Adopt amendment L.004. The motion passed without o
Refer House Bill 14-1093, as amended, to the Commi		Pass Without Objection
Pass Without Objection
PASS



02:38 PM

The committee took a brief recess.

02:42 PM -- House Bill 14-1093

The committee came back to order. Representative Duran, sponsor, presented House Bill 14-1093, concerning the creation of the Creative District Community Loan Fund (fund) in OEDIT. Loans or loan guarantees of up to $250,000 per project are made and administered by the Creative Industries Division (division) of OEDIT. Funding for loans is subject to appropriations to the fund. If not fully expended, appropriations to the fund remain available for loans in the next fiscal year. Representative Duran distributed two amendments, Amendment L.003 (Attachment H) and Amendment L.004 (Attachment I). The sponsor responded to questions from the committee specific to the matching moneys, the loan process, and what the loans can be used for.

140204 AttachH.pdf140204 AttachH.pdf140204 AttachI.pdf140204 AttachI.pdf

02:48 PM

 Questions from the committee continued on loan default scenarios and the payback window for borrowers.

02:52 PM -- Ken Lund, representing OEDIT, testified in support of the bill. Director Lund provided background on the division. He discussed how OEDIT will approach the loan process and rulemaking. Director Lund responded to questions from the committee.

03:02 PM

Director Lund continued to respond to questions from the committee about the loan application and approval process.

03:09 PM -- Jen Coates, representing the Ridgway Creative District, testified in support of the bill. Town Manager Coates discussed the positive effect the creative district designation has had on her town. Ms. Coates offered several scenarios of how the fund could be utilized to improve infrastructure in the town of Ridgway. The committee thanked her for driving from Ridgway to deliver her testimony.

03:17 PM -- John Batey, representing the Urban Renewal Authority in Pueblo, testified in support of the bill. Mr. Batey discussed the ability of the creative industries to revitalize urban areas, and the successes of the Pueblo Creative Corridor. The committee thanked him for driving from Pueblo to deliver his testimony.

03:22 PM -- Jack Pappalardo, representing Denver's Art District on Santa Fe, testified in support of the bill. Mr. Pappalardo stated that prior testimony summed up the benefits of creative districts. He discussed specifics of how the Art District on Santa Fe developed and the district's future goals as they relate to the fund.

03:27 PM

The sponsor discussed Amendment L.003 and Amendment L.004.

BILL:HB14-1093
TIME: 03:29:36 PM
MOVED:Kraft-Tharp
MOTION:Adopt amendment L.003 The motion passed without objection.
SECONDED:Ryden
VOTE
Exum
Hamner
Holbert
Navarro
Nordberg
Rosenthal
Ryden
Szabo
Wright
Kraft-Tharp
Williams
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB14-1093
TIME: 03:31:20 PM
MOVED:Kraft-Tharp
MOTION:Adopt amendment L.004. The motion passed without objection.
SECONDED:Hamner
VOTE
Exum
Hamner
Holbert
Navarro
Nordberg
Rosenthal
Ryden
Szabo
Wright
Kraft-Tharp
Williams
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection



03:31 PM

The sponsor delivered closing remarks.

BILL:HB14-1093
TIME: 03:33:56 PM
MOVED:Kraft-Tharp
MOTION:Refer House Bill 14-1093, as amended, to the Committee on Appropriations. The motion passed on a vote of 7-4.
SECONDED:Hamner
VOTE
Exum
Yes
Hamner
Yes
Holbert
No
Navarro
No
Nordberg
No
Rosenthal
Yes
Ryden
Yes
Szabo
No
Wright
Yes
Kraft-Tharp
Yes
Williams
Yes
Final YES: 7 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS