|Date Requested:January 20, 2010
Time Requested:01:40 PM
| FUND(S) |
Sources of Revenue
Legislation creates:A New Program
Effect this measure will have on costs and revenues of state government.
|The purpose of this legislation is to etablish a Creative Communities Development Pilot Program. The purpose of this legislation is create a matching grants program to help develop and enhance communities in West Virginia to develop planning strategies to help them to be more viable and to compete for economic investment.|
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||10,000||10,000|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. 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, we are unable to estimate whether this office could operate this program without hiring additional staff. The amount shown above is the amount we estimate it would cost for the per diem and travel expenses of the three public board members to attend bi-monthly board meetings as this legislation requires.
|This legislation allows the Board to invest any funds received from the legislature or other sources and keep the proceeds for Board operations.Normally agencies are not allowed to invest general revenue funds and keep the proceeds. Most of the time interest income on these funds go to general state operations. Also, in our experience it would be extremely difficult for the communities to come up with the required local matching funds. I don't know of any communities in the state with a population of less than 5,000 that could come up with $200,000.00 in local matching funds for one of these grants.This legislation as written seems to require any local community obtaining one of these grants to match the amount of the grant dollar for dollar from local, federal or other funds. In kind match or use of state dollars from other sources is not allowed.|