FISCAL NOTE
Date Requested: January 16, 2015
Time Requested: 10:59 AM |
| Agency: |
Development Office |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1892 |
Introduced |
SB135 |
|
|---|
| CBD Subject: |
Economic Development |
|---|
|
FUND(S):
Sources of Revenue:
Special Fund
Legislation creates:
A New Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The pupose of this legislation is to establish a Creative Communities Development Pilot Program within the Development Office. the purpose of this matching grant program is to help communities develop planning strategies to make them more viable and be more able to compete for economic investment.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2015
Increase/Decrease
(use"-") |
2016
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
175,000 |
175,000 |
| Personal Services |
0 |
135,000 |
135,000 |
| Current Expenses |
0 |
40,000 |
40,000 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Since we are not sure how much the Legislature is going to appropriate to establish the Creative Communities Development Fund , it is difficult to estimate how much of these funds will have to be set aside for administrative purposes. The above estimate is based on the need to hire two additional staff to administer the program. Funds were also included to pay the per diem and travel costs of the three public board members to attend the bi-monthly meetings of the Board required by this legislation.
Memorandum
In our experince, it will be difficult for communities , especially small ones, to come with the required dollar for dollar match necessary to obtain one of these grants.
Person submitting Fiscal Note: Carl D Smith
Email Address: carl.d.smith@wv.gov