J_CDC_2021A 02/11/2021 08:38:44 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGJOINT COMMITTEE COMMITTEE ON CAPITAL DEVELOPMENT COMMITTEE Date 02/11/2021 Attendance Fields * Rich X Sonnenberg X Valdez A. X Story X Hooton X Time 08:38:44 AM to 09:56:48 AM Place HCR 0112 This Meeting was called to order by Hooton This Report was prepared by Bo Pogue Hearing Items Action Taken hSB 219 Committee Discussion Only hPrioritization of FY 2021-22 Capital Budget Requests Committee Discussion Only SB 219 - Committee Discussion Only 08:39:02 AM Ms. Esther van Mourik, Office of Legislative Legal Services, explained a potential ambiguity in Senate Bill 20-219 regarding the use of any premium from the issuance of the certificates of participation (COPs). Dave Young, State Treasurer, provided background on the amount to be realized from the COP issuance, and provided options on how any premium might be used. Discussion ensued on the timing of the COP issuance and the need for legislation to address any ambiguities in Senate Bill 20-219. Cheri Gerou, State Architect, provided input on the balance of the Emergency Controlled Maintenance Account, and the requirements of Senate Bill 20-219 with respect to the premium and this account. Treasurer Young discussed some requirements in federal law pertaining to the payments. 08:59:21 AM Ms. van Mourik summarized what the decision items are with respect to the Senate Bill 20-219 premium. Discussion ensued about paying the COPs down. Eric Rothaus, Deputy State Treasurer, provided input on the impact of issuing a smaller COP package, thus reducing COP payments going forward. Discussion ensued on policy decisions. Mr. Rothaus responded to questions regarding the three-year spending requirement for spending the COP proceeds. 09:17:58 AM Motion Request additional premium and draft bill Moved Story Seconded Fields Yes Rich No Sonnenberg No Valdez A. Yes Story Yes Hooton Yes YES: 4 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS 09:19:01 AM Discussion ensued about the timing of receiving the Senate Bill 20-219 COP proceeds. Prioritization of FY 2021-22 Capital Budget Requests - Committee Discussion Only Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2021A/commsumm.nsf/0/92D6EA78FF82...$File/Attachment A.pdf?OpenElement Attachment A.pdf 09:21:17 AM The committee discussed their prioritization rationale for the FY 21-22 capital budget requests. The committee's recommended list is included as Attachment A. 09:25:09 AM Senator Sonnenberg discussed certain projects that were requested for funding in FY 2020-21 but were not requested for FY 2021-22, and the disposition of certain projects that were not funded in FY 2020-21. Discussion ensued regarding the rationale behind the committee's reprioritizing the Office of State Planning and Budgeting's FY 2021-22 capital construction priorities, and the reasoning behind creating two tiers of recommended funding. 09:42:21 AM Motion Approve state-funded CDC prioritized list Moved Sonnenberg Seconded Fields Yes Rich Yes Sonnenberg Yes Valdez A. Yes Story Yes Hooton Yes YES: 6 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS 09:42:22 AM Senator Sonnenberg discussed his objection to approving the Parks and Wildlife, Property Acquisitions and Approvements line item (line 3) within the cash-funded recommendations. 09:45:18 AM The committee recessed. 09:52:40 AM The committee returned to order. 09:53:28 AM Motion Approve only lines 1, 2, and 4 from the CDC prioritized cash list Moved Sonnenberg Seconded Fields Yes Rich Yes Sonnenberg Yes Valdez A. No Story No Hooton No YES: 3 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: FAIL 09:54:09 AM Motion Approve the CDC prioritized cash list Moved Valdez A. Seconded Fields Yes Rich No Sonnenberg No Valdez A. Yes Story Yes Hooton Yes YES: 4 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS 09:56:48 AM The committee adjourned.
