This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0487 - Auth. Acquisition of Rice-Tremonti Home for Historic Sites
L.R. NO. 2247-01
BILL NO. SB 487
SUBJECT: Acquisition of Rice-Tremonti Home
TYPE: Original
DATE: January 15, 1996
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
State Park Sales ($114,933) to
Tax Fund ($384,993) ($104,152)
State Park Earning $5,000 $5,125
Total Estimated ($109,933)
Net Effect on All --to--
State Funds** $0 ($379,933)
** These costs do not include unknown costs to clean-up any potential
environmental contamination or capital improvement costs to bring the
property up to state and federal standards.
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1996 FY 1997 FY 1998
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTIONS
The Attorney General's Office assumed they would request an additional .25
Assistant Attorney General and related expenses to review the contract for
sale. Oversight assumes the review could be handled with existing
resources.
The Rice-Tremonti Home was last assessed by the Jackson County Assessor in
1990. At that time the assessed value of the property was $282,000. The
proposal says the property may be acquired by gift or purchase. The
Department of Natural Resources (DNR) assumes it would cost approximately
$270,000 to purchase the property. Accordingly, if the property were given
to DNR there would be no acquisition costs. In addition to acquisition
costs, if any, DNR assumes they would incur costs of $7,500 for an
environmental assessment, as well as unknown costs to clean-up any potential
environmental contamination. After review of the Federal Depository
Insurance Corporation's guidance on environmental liability, Oversight
assumes this property does not fall into a high risk category for
environmental contamination and has not included any additional costs for an
environmental assessment.
Costs of capital improvements needed to bring the property up to state and
federal standards are expected, but are also unknown.
DNR assumes they would request three FTE and related expenses and equipment,
including a 1/2 ton pick-up truck, to staff the facility. The staff to be
requested are; one Historic Site Administrator, one Tourist Assistant, and
one Park Maintenance worker. Oversight assumes the facility can absorb
mileage reimbursement costs and has not included costs to purchase a vehicle.
Oversight has adjusted DNR's equipment and expense costs to bring them
in-line with Office of Administration guidelines.
FISCAL IMPACT - State Government FY 1997 FY 1998 FY 1999
(10 Mo.)
STATE PARK SALES TAX FUND
Costs - DNR
Personal Service $0 ($66,921) ($68,594)
Fringe Benefits 0 (20,558) (21,072)
Expense and Equipment 0 (27,454) (14,486)
Total Costs - DNR - if property is a gift $0 ($114,933) ($104,152)
Purchase Costs ($270,000)
Total Costs - DNR - if property is purchased $0 ($384,933) ($104,152)
Estimated Net Effect on -
STATE PARK SALES TAX FUND ($114,933)
--to--
$0 ($384,933) ($104,152)
STATE PARK EARNINGS FUND
Income - Donations $0 $5,000 $5,125
Estimated Net Effect on -
STATE PARK EARNINGS FUND $0 $5,000 $5,125
FISCAL IMPACT - Local Government FY 1997 FY 1998 FY 1999
(10 Mo.)
0 0 0
DESCRIPTION
This proposal authorizes the Department of Natural Resources to acquire the
real and personal property known as the Rice-Tremonti Home for the
establishment of a State Historic Site. The department shall provide for the
proper care, maintenance, and safekeeping of the property. The proposal
directs the Attorney General to approve the instrument of conveyance.
This legislation is not federally mandated and would not duplicate any other
program. This proposal would likely require additional capital improvements.
SOURCES OF INFORMATION
Missouri Department of Natural Resources
Missouri Attorney General's Office
Jackson County Assessor