Moffat County adopts resolution establishing Moffat Economic Development Authority

The Moffat County Board of County Commissioners on Aug. 12 approved Resolution 2025-76 to establish the Moffat Economic Development Authority, a separate entity intended to hold and invest settlement and donated funds for long-term local economic development.

The authority, described by Natural Resources representative Jeff Comstock as a perpetual fund whose principal would remain intact while interest is used for grants, loans and other economic development activities, was adopted by motion and voice vote with no recorded opposition. Comstock told the commissioners the county and the city will each appoint two board members; a third member could be appointed by a taxing district, and the county has asked the school district first to consider that seat.

“This would be our half of the deal,” Comstock said during the presentation, describing the authority as the county’s counterpart to a city action. He explained the authority is designed to receive money from the Tri-State settlement and any future settlements or donations and to invest with more flexibility than typical government funds allow under an amended statute provided for coal-affected communities.

Representatives from the law firm Taft, Sherman & Howard — who drafted the establishment agreement and investment policy — joined by phone and said the documents reflect input from public workshops and from the city, county and school-district representatives. Parker (Taft, Sherman & Howard) said the documents implement a structure “for the benefit of the community.”

Commissioners moved to approve the resolution, described in the motion as approving the establishment agreement, the authority’s investment policy and provisions for appointing board members. The motion carried on a voice vote with ayes recorded; no roll-call tally was given.

The county intends to nominate members at its next meeting and to work with the school district if it opts to participate. The investment policy emphasizes funding for new local jobs not related to existing businesses and relies on recently amended statutory language allowing more flexible investment options for coal-settlement proceeds.

The board did not specify dollar amounts in the resolution; Comstock said future deposits would include settlement funds and any other donations.

The county and city will follow up with formal appointments at the next scheduled meeting two weeks later.