Date: 12/01/2009

OSPB FY 2010-11 Capital Projects Presentation


Votes: View--> Action Taken:

02:15 PM -- OSPB FY 2010-11 Capital Projects Presentation

Ms. Lisa Esgar, Deputy Director, OSPB, provided an overview of the FY 2010-11 capital requests forwarded by OSPB to the committee. Committee members received a packet of information on the capital requests recommended by OSPB and revenue sources for capital construction (Attachment E). Ms. Esgar first provided clarification regarding the ability of the state to fulfill its repayment obligations for COPs backed by FML revenue, and the impact of proposed refinancing of some of the state's COPs on the ability of the state to make the payments. Ms. Esgar then discussed other potential COP refinancing opportunities, and responded to questions regarding how COP obligations will be met if revenue falls short of projections.


02:25 PM

Discussion continued regarding the proposed refinance of some of the state's COPs. Ms. Esgar began her briefing on the OSPB FY 2010-11 capital construction recommendations forwarded to the committee, and explained the criteria considered by OSPB in prioritizing its capital construction recommendations. Discussion ensued regarding the status of the Department of Revenue's Colorado Integrated Tax Architecture project, and the purpose of the project. Ms. Esgar returned to discussing OSPB's prioritization process, and clarified that most of the state-funded capital requests submitted by higher education institutions were not reviewed by OSPB. Ms. Esgar responded to questions regarding the prioritization of higher education projects. Ms. Esgar highlighted three capital projects to be funded in FY 2010-11 with federal stimulus moneys under the American Recovery and Reinvestment Act (ARRA) of 2009.

02:35 PM

Ms. Esgar discussed three capital projects requested by the Department of Military and Veterans Affairs to construct new National Guard armories, and provided detail on the source of funds for the cash-funded portions of the projects. Ms. Esgar confirmed that the National Guard owns properties that can be sold to repay monies used from the Veterans Trust Fund for the requested FY 2010-11 projects. Ms. Esgar provided an overview of proposed refinance of the COP payments for the Colorado State Penitentiary II High-Custody Expansion project and the Various Higher Education Projects -- November 2008 Issuance to be repaid from FML revenue. Ms. Esgar next explained OSPB's direction to state agencies to include in their capital budget proposals a building maintenance fund to address future controlled maintenance needs.

02:46 PM

Ms. Esgar continued to walk to the committee through Attachment E and addressed earlier concerns regarding future funding for a Department of Human Services project to replace the existing Adams County Youth Services Center. She summarized the consolidation of ongoing cash projects into fewer project requests by the Department of Natural Resources, Division of Parks and Outdoor Recreation and Division of Wildlife. Ms. Esgar reviewed the three priority lists compiled by OSPB, contained in Attachment E. Ms. Esgar addressed a question regarding the 100 percent federal or cash funds priority list on page 3 of Attachment E.

02:56 PM

Ms. Esgar continued her presentation of the OSPB priority lists. She reiterated that OSPB did not review all the submitted higher education state-funded requests. Discussion ensued about the higher education capital construction projects priority list on page 4 of Attachment E. Ms. Esgar outlined OSPB's calculations of projected available revenue from the Capital Construction Fund for FY 2010-11.