I think if you go back and read the report, it isn’t exactly saying you need to spend $63 million all at once. What it says is over the next five plus years you need to spend money replacing stuff that is either worn out, (think the roof) or no longer the meeting today’s standards (communication and technology). It is basically normal maintenance on a twenty year old building. In the private sector, you likely would have a replacement reserve to address it, or some of it at least. Or you would recapitalize the property. In the public sector, that rarely works, because legislators, tax payers and officials would scream bloody murder. They would want that money turned over to the General Fund with the idea that the state will come up with the money when required. Indeed, for a while you weren’t allowed by state law to have such funds for publicly owned entities. Not sure if they are permitted now. So the end result is that the State Legislature needs to appropriate money for that purpose. But it isn’t like you need to do $63 million on Tuesday. You basically put together a capital plan and maybe it is $10 million/year over 6 years, and you fund that and in an ideal world, it becomes a regular thing so you avoid these big numbers in the future.
