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Duplicates/Conflicts with/Companion to/Relates to

SOURCES OF INFORMATION

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SUMMARY

Synopsis of Bill

House Bill 234 appropriates $150.0 from the general fund to the Local Government Division of the Department of Finance and Administration to contract to purchase a building for a technical support center in Grants located in Cibola County.

Significant Issues

The appropriation in House Bill 234 would provide matching funds toward the purchase and renovation of a building in the City of Grants to be used as a technological center. The building is estimated to be worth approximately $1 million; however, the owners have offered to sell the building for $300.0. An industrial foundation in Grants will contribute $150.0 and another $150.0 is being sought from the state. The building would be renovated for use as a call center which would employ approximately 500 people over a five-year period.

FISCAL IMPLICATIONS

The appropriation in House Bill 234 from the general fund is for expenditure in fiscal year 2001. Any unexpended or unencumbered balance remaining at the end of the fiscal year revers to the general fund. The bill proposes the purchase of a building which may be more appropriate to be requested from Severance Tax Bond capacity rather than from the general fund.

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