J_CDC_2023A 03/09/2023 08:07:13 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGJOINT COMMITTEE COMMITTEE ON CAPITAL DEVELOPMENT COMMITTEE Date 03/09/2023 Attendance Catlin X Lindsay X Mullica * Simpson * Hinrichsen X Story X Time 08:07:13 AM to 09:06:52 AM Place SCR 357 This Meeting was called to order by Story This Report was prepared by Bo Pogue Hearing Items Action Taken hDiscuss FY 2023-24 Capital Budget with Joint Budget Committee Committee Discussion Only Discuss FY 2023-24 Capital Budget with Joint Budget Committee - Committee Discussion Only 08:07:22 AM The committee was called to order. A quorum was present. The committee entered into a discussion with the Joint Budget Committee (JBC) on the Capital Development Committee's (CDC) FY 2023-24 capital construction recommendation. Senator Bridges discussed his preference for moving controlled maintenance toward the top of the prioritized list. Representative Story explained the process by which the committee engaged in its prioritization, and provided details on the ordering of the projects on the list. Andrea Uhl, JBC Staff, provided an update on the certificates of participation (COP) payments, which represent the first and second priorities on the CDC's list. Discussion ensued regarding the movement of the Colorado State University National Western Center COP payment over to the operating side of the state budget. Representative Story continued briefing the JBC on the reasons behind the CDC's order of capital priorities. Discussion ensued regarding funding for the Department of Military and Veterans Affairs Pueblo Field Maintenance Shop and Readiness Center project. 08:27:50 AM Representative Story continued briefing the JBC on the CDC's FY 2023-24 capital construction priority list. Discussion ensued regarding prioritizing the Adams State University Central Technology Building and Renovation project, and the potential for reprioritizing the project list. Discussion followed regarding the project justifications for particular projects, and other reasons for prioritizing certain projects. Discussion turned to the Colorado Mesa University Geothermal Exchange Loop project. 08:46:08 AM The JBC and CDC discussed the potential for trimming down the FY 2023-24 capital prioritization list. CDC members explained the need behind two Adams State University projects recommended for funding by the CDC. Discussion ensued regarding funding maintenance at a rate equal to one percent of the current replacement value of state-funded buildings. Representative Story provided additional remarks on overall capital need and the FY 2023-24 project list. Discussion ensued regarding the funding level for capital for FY 2023-24, and potential projects that may move above the funding line. 09:06:52 AM The committee adjourned.
