Committee approves RFQ for economic analysis after financial update; staff set RFQ release for Oct. 1, 2026

The joint committee voted without objection to issue a request for qualifications for a third‑party economic analysis after a financial briefing from History Colorado budget staff and Legislative Council.

Jared Gibbons, budget director for History Colorado, said the BCRE fund held about $1.3 million in cash as of Sept. 20 and that the historical portion of the study is expected to be at or below the original fiscal note. He reported a $75,000 gap for the historical portion and said the original fiscal‑note estimate for the economic study was $300,000; he cautioned that the actual cost will depend on responses to the RFQ. Gibbons also said there are pledges — a $60,000 pledged matching grant and a pledged $100,000 for the economic study — that have not yet been received and, if realized, would reduce the funding gap.

Natalie Castle of Legislative Council staff said the statute ties certain milestones to fundraising thresholds and recommended issuing an RFQ to determine market cost rather than relying on the original fiscal‑note number alone. She explained that once specified donation thresholds are met, the statutory timelines for the historical report and the economic analysis are triggered and that the commission needs to select a contractor in time to preserve a full six months for the economic analysis.

Vice Chair Bacon moved to issue the RFQ; Commissioner Bridal seconded. With no objection, the motion passed by unanimous consent and the chair said the RFQ will be posted on the Colorado General Assembly website on 2026-10-01. Committee members asked staff to follow up on distribution of the briefing materials and to circulate a milestones timeline tied to statutory dates.