The bill establishes a framework for a public-private partnership to develop, construct, operate, and maintain a hotel and conference center located in downtown Cheyenne, specifically on a designated parcel of land. The hotel is required to have at least 200 rooms and conference facilities capable of accommodating 1,000 attendees, along with appropriate food and beverage options and parking facilities. The Department will solicit bids for the project, evaluating bidders based on their plans, business practices, past performance, and financial proposals. The public-private partnership agreement will outline the responsibilities of both the state and the selected partner, including compensation, access to information, and oversight provisions.

Additionally, the bill allows the state treasurer to invest up to 90% of the total design and construction costs using permanent state funds for the project. All revenues generated from the hotel and conference center will be directed to the public school foundation program account. The Department and the state treasurer are required to report annually to the joint appropriations committee and the select committee on capital financing and investments regarding the construction, operation, and financial performance of the hotel and conference center. The bill also includes a legislative intent statement emphasizing the public benefits of the project for the state of Wyoming.

Statutes affected:
Introduced: 9-5-110