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Laramie council codifies broader uses for Economic Development Fund, votes 9-0
Summary
The Laramie City Council approved a resolution clarifying that the city's Economic Development Fund may be used for general economic development expenditures, while remaining a separate special revenue fund. The measure passed 9-0 after staff and councilors debated restrictions and oversight.
The Laramie City Council on Feb. 4 approved Resolution 2025-16, clarifying the purpose and permitted uses of the city's Economic Development Fund and authorizing the mayor and city clerk to sign the resolution. The council voted 9-0.
City Administrative Services Director Jennifer Wade told the council the fund was created more than 20 years ago as a revolving loan fund but has, over time, been used for a broader set of economic development purposes under multiple negotiated agreements. Wade said the fund's cash is effectively divided into subcategories based on restrictions in those agreements, and that the resolution would codify the longer-standing practice of using the fund for a range of economic development initiatives subject to agreement limits and council appropriation.
The resolution matters because it defines how the city will treat funds generated by prior economic development agreements and how future appropriations will be handled. Wade said these resources are still subject to the restrictions written into each agreement and to Wyoming state statutes on municipal spending. "We absolutely are not recommending that we move this money to the general fund," Wade said, adding the Economic Development Fund will remain a special revenue fund.
Several council members raised questions before the vote. Councilor Shumway said he worried funds might lose earmarked identity if commingled with general finances and said he would scrutinize future requests that do not clearly advance economic development. Councilor Newman urged the city to review other outdated resolutions and sought assurance that past actions had not been illegal; the city manager and Wade both told the council there had been no illegal appropriations and that the resolution was intended to clarify and align the fund's stated purpose with past practice.
Staff identified typical sources that have contributed to the fund during recent years, including economic development agreements referenced by Wade (for example, agreements linked to Trihydro and other local projects); Wade said the annual comprehensive financial report shows the fund's position and each subcategory.
The council's adoption of the resolution does not appropriate money to particular projects; Wade and the city manager said project-level expenditures would continue to come to council as separate appropriations or budget amendments. One project later on the same agenda'the Pilot Hill trailhead request'was cited during debate as an example of the type of request that staff considers eligible under the clarified purpose.
Actions on the resolution were unanimous. The council will continue to consider individual appropriations from the fund in future agenda items and budget actions.
Laramie City Council members voting yes: Bowling; Freed; Lockhart; Newman; O'Doherty; Shumway; Beehill; Richardson; Cumby.
