Cumbres & Toltec Scenic Railroad
COMMITTEE ON CAPITAL DEVELOPMENT
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03:32 PM -- Cumbres & Toltec Scenic Railroad
Mr. Peter Foster, Chairman, and Mr. Leo Schmitz, Executive Director, Cumbres & Toltec Scenic Railroad, presented a FY 2010-11 request for the Track Rehabilitation project. Mr. Foster discussed the location of the railroad, which is co-owned by Colorado and New Mexico. Mr. Foster stated that the railroad provides economic stimulus to two of the poorest counties in Colorado and New Mexico. According to Mr. Foster, ridership is down for the most recent fiscal year, but revenue is up because of a new parlor car. Committee members received a summary of the FY 2010-11 request and key economic indicators for the railroad, prepared by railroad staff (Attachment AA). Mr. Foster told the committee that the railroad currently has four running locomotives and 70 employees. He then detailed the FY 2010-11 request.
Mr. Foster responded to a question about alternate sources of funding for railroad operations and stated that the Friends of the Cumbres & Toltec Railroad have employed an individual to seek grant funding. He explained that the Friends organization has also been seeking landmark status for the railroad.
Mr. Ed Nichols, President, Colorado Historical Society, came to the table and stated that the Historical Society has been working in partnership with the railroad on earning landmark status designation. Discussion turned to the new parlor car and other ways the railroad can create new revenue streams.
The committee adjourned.