HB 14-1170 Summary

• Authorizes the state treasurer to execute a lease-purchase agreement for up to twenty years to purchase and renovate real property in Pueblo County for the Colorado Bureau of Investigation's regional office and forensic laboratory, with a principal amount not to exceed $11,000,000 plus administrative, monitoring, closing costs and interest.

• Current Pueblo facility, built in 1965 as a retail building, has significant safety, environmental, structural and capacity issues that prevent ISO accreditation, necessitating closure and relocation of operations to Denver or Grand Junction if not replaced.

• Requires Department of Public Safety to present a plan for purchase and renovation to the Office of State Planning and Budgeting and Capital Development Committee for approval before closing, and mandates state controller approval of all related agreements.

• Appropriates $37,500 for fiscal year 2013-2014 for project management costs and $984,542 for fiscal year 2014-2015, including $867,542 for lease payments, $112,500 for project management, and $4,500 for property insurance.

• Lease agreement obligations are subject to annual General Assembly appropriation and do not create state indebtedness; if Colorado does not renew the agreement, the lessor's sole security is the real property itself.