Bill Summary for Bill Number Colorado Historical Society FY 2009-10 Cash-Funded Requests

Date: 03/05/2009

Final
Colorado Historical Society FY 2009-10 Cash-Funded Requests

COMMITTEE ON CAPITAL DEVELOPMENT

Votes: View-->	Action Taken:
Approve the request for cash funds spending author	PASS

08:08 AM -- Colorado Historical Society FY 2009-10 Cash-Funded Requests

The committee was called to order. A quorum was present. Mr. Ed Nichols, President, Mr. Joseph Bell, Director of Facilities Services, both of the Colorado Historical Society (CHS), and Mr. William Mosher, Area Director and Project Manager, Trammel Crow Company, presented two FY 2009-10 cash-funded requests, including (1) Regional Museum Preservation Projects; and (2) New Colorado History Museum (COP Project). Committee members received a description of the Regional Museum Preservation project, a memorandum with updated request information about the Regional Museum Preservation project, and a description of the New Colorado History Museum (COP Project) prepared by Legislative Council Staff (Attachments A, B, and C, respectively). Committee members also received a spreadsheet showing the projected economic impact of the new Colorado History Museum and Justice Center, prepared by Mr. Mosher (Attachment D), a copy of Senate Bill 08-206, which authorizes the state to enter into lease-purchase agreements for the construction of a new history museum and justice center (Attachment E), and the Senate Bill 08-206 fiscal note, prepared by Legislative Council Staff (Attachment F).

Mr. Nichols began by giving an overview of the changes to the CHS operating budget for FY 2009-10. He explained that the CHS operating budget has been reduced because of a projected 17 percent decline in moneys available from limited gaming in the state. Mr. Nichols detailed the cuts in the FY 2009-10 budget, including the impact of these changes on the original request amount for the CHS cash projects. Attachment B details the change in the original request amount for the Regional Museum Preservation project. Mr. Nichols explained the New Colorado History Museum (COP Project) original request amount is also being revised (from $14 million to $12 million) because CHS plans to reduce the transfer amount from the State Historical Fund for the project by $2 million for FY 2009-10. (Attachment C shows the original request amount of $14 million.) Mr. Bell gave an overview of Regional Museum Preservation project and spoke about specific small projects included in the request. Mr. Bell also explained changes to the original request amount for the project. Mr. Nichols and Mr. Bell addressed questions about the need for jobs in gaming communities, changes to the state's limited gaming rules, and the effect of Amendment 50 on available revenue for historical preservation projects. Mr. Nichols briefly explained how House Bill 09-1272 may impact future revenue available for the CHS operating budget. House Bill 09-1272 implements Amendment 50, the initiated measure approved by Colorado voters at the November 2008 general election. The bill expands the definition of limited gaming and directs the Limited Gaming Control Commission in how to distribute gaming tax revenue attributable to limited gaming activity under revised limits approved by gaming communities.

08:21 AM

Discussion ensued about the potential effect of House Bill 09-1272 on historic preservation efforts in the state and available projections regarding the impact of new gaming rules on limited gaming revenue. Mr. Mosher explained reductions to the overall project budget for the New Colorado History Museum (COP Project) and addressed a question about the potential inclusion of office or condominium space above the newly constructed museum. Discussion ensued about the impact of cost reductions on the scope of the New Colorado History Museum project. Mr. Nichols answered questions about available revenue from new court fees for the New Colorado History Museum certificates of participation payment. Mr. Bell addressed a question about the potential availability of federal stimulus dollars for the Georgetown Loop Railroad and spoke to longterm goals for the railroad.

08:30 AM

Mr. Nichols answered a question about Senate Bill 08-206 and whether CHS can reduce the $4 million statutory transfer from the State Historical Fund to the State Museum Cash Fund without new legislation to authorize this change. Mr. Bell addressed a question about the Cumbres and Toltec Railroad. Discussion ensued.


BILL:	Colorado Historical Society Cash-Funded Requests
TIME:	08:37:22 AM
MOVED:	Bacon
MOTION:	Approve the request for cash funds spending authority for the Regional Museum Preservation Projects ($1,362,878, including $500,000 CF from the State Historical Fund, $100,000 CF from the Georgetown Loop Railroad Foundation Account, and $762,878 FF), and the New Colorado History Museum (COP project) ($12,000,000 CF). The motion carried on a vote of 5-0-1.
SECONDED:
		VOTE
	Kopp	Yes
	McFadyen	Yes
	Schwartz	Absent
	Sonnenberg	Yes
	Bacon	Yes
	Riesberg	Yes

Final YES: 5 NO: 0 EXC: 0 ABS: 1 FINAL ACTION: PASS

08:39 AM

The committee adjourned.