Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu

J_CDC_2018A 07/23/2018 08:59:26 AM Committee Summary

PUBLIC
STAFF SUMMARY OF MEETING
JOINT COMMITTEE COMMITTEE ON CAPITAL DEVELOPMENT COMMITTEE
Date 07/23/2018
Attendance
Becker J. X
Hansen X
Kefalas X
Sonnenberg X
Esgar X
Cooke X
Time 08:59:26 AM to 10:25:04 AM
Place SCR 357
This Meeting was called to order by Cooke
This Report was prepared by Bo Pogue
Hearing Items Action Taken
Discussion about SB 17-267 COP Issuance with State Treasurer's Office Committee Discussion Only
Committee Discussion about SB 17-267 COP Issuance Process Committee Discussion Only
Consideration of CPW Real Property Transaction Recommend Support for Property Transaction
Consideration of DHS Real Property Transaction Property Transaction Approved

Discussion about SB 17-267 COP Issuance with State Treasurer's Office - Committee Discussion Only


09:01:01 AM  

The committee was called to order. All members were present. Mr. Ryan Parsell, Deputy State Treasurer, briefed the committee on the issuance of certificates of participation (COPs) under Senate Bill 17-267. Committee members received a letter requesting the presence of the State Treasurer at the meeting (Attachment A).  Mr. Parsell provided an overview of the legislation, and explained how COPs are issued under authority of the state. He also discussed the timeline for issuing COPs to fund capital projects under SB 17-267.

09:15:36 AM  
Mr. Parsell continued to brief the committee on the issuance of COPs for capital projects under SB 17-267, including discussing the timeline for issuance and collateralization of the COPs. Mr. Parsell responded to questions regarding the absence of the State Treasurer from the meeting, and the length of time associated with changing bond counsel for the COP issuance.
09:26:31 AM  
Discussion returned to the timeline for the COP issuance under SB 18-267. Mr. Parsell responded to questions regarding the parties involved in the COP issuance discussions, and the change of bond counsel. Mr. Parsell responded to further questions regarding the expected date for issuing the COPs, and transportation projects to be funded under SB 17-267.
09:38:12 AM  
Mr. Parsell responded to questions regarding the impact of the delay in issuing COPs on the money involved in the issuance. Discussion again returned to the timeline for the COP issuance, and certain implications of delaying the issuance. Discussion followed regarding the list of projects to be funded under the COP issuance, and potential costs associated with the issuance delay.
09:54:03 AM  

Discussion ensued regarding the factors involved in the delay in issuing of COPs under SB 17-267, and the process by which the State Treasurer's Office navigates COP issuance.



Committee Discussion about SB 17-267 COP Issuance Process - Committee Discussion Only


10:01:58 AM  
The committee entered into a discussion about the issuance of COPs to fund capital construction under SB 17-267. Committee members received a list of potential questions concerning this issue (Attachment B). Discussion ensued regarding the options available for addressing costs associated with delays in issuing the COPs. Ms. Kori Donaldson, Legislative Council Staff, provided input on this issue. The committee also discussed input from stakeholders on the ramifications of the COP issuance occurring in September. Ms. Donaldson discussed the post-issuance process.



Consideration of CPW Real Property Transaction - Recommend Support for Property Transaction


10:10:56 AM  

Mr. Rick Basagoitia, Area Wildlife Manager for the San Luis Valley, and Mr. Doug Vilsack, Legislative Liaison, Department of Natural Resources, presented a real property transaction for Colorado Parks and Wildlife to acquire conservation and public easements at Hale River Ranch. Committee members received a written description of the proposal, assembled by Legislative Council Staff (Attachment C).  Mr. Basagoitia discussed the transaction, and Mr. Vilsack provided an overview of the property transaction process. Mr. Basagoitia responded to questions regarding the lack of public access to the subject property under the proposal, and the cost of the acquisition. Representative Becker commented on the proposal.



10:18:59 AM
Motion Recommend support for the acquisition of conservation and access easements at Hale River Ranch ($1,500,000 for 650 acres).
Moved Esgar
Seconded
Becker J. No
Hansen Yes
Kefalas Yes
Sonnenberg Yes
Esgar Yes
Cooke Yes
YES: 5   NO: 1   EXC: 0   ABS:  0   FINAL ACTION:  PASS



Consideration of DHS Real Property Transaction - Property Transaction Approved


10:20:10 AM  

Mr. Jeremy R. Hill, Deputy Director, Office of Administrative Solutions, and Ms. Gargi Duttgupta, Interim Director of the Division of Facilities Management, Office of Administrative Solutions, Department of Human Services (DHS), presented a proposal to acquire real property for the construction of a new facility in Adams County to accommodate programming by the Division of Youth Services.  Committee members received a memorandum describing the proposal, prepared by Legislative Council Staff (Attachment D).  Ms. Donaldson discussed the process observed by the DHS in acquiring real property. Mr. Hill responded to questions regarding the current use of the subject property, and the region to be served by the new Division of Youth Services facility. Discussion ensued regarding the cost of the transaction.



10:24:19 AM
Motion DHS
Moved Esgar
Seconded
Becker J. Yes
Hansen Yes
Kefalas Yes
Sonnenberg Yes
Esgar Yes
Cooke Yes
YES: 6   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  PASS


10:25:04 AM   Committee Adjourned