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Moffat County adopts Economic Development Authority, investment policy
Summary
The Moffat County Board of County Commissioners voted to adopt Resolution 2025-76 establishing the Moffat County Economic Development Authority and its investment policy to manage coal-settlement and future economic-development funds; the board will appoint members at a subsequent meeting.
The Moffat County Board of County Commissioners voted to adopt Resolution 2025-76 on Aug. 12, 2025, establishing the Moffat County Economic Development Authority and approving the authority's investment policy.
The resolution creates a five-member authority intended to receive settlement payments and other donations and to preserve principal while using investment earnings for economic-development grants, loans and related expenditures as local job and tax bases shift with power-plant closures. "In a nutshell, this would be our half of the deal," said Jeff Comstock, presenting the resolution to the commissioners. "The principal would not go away. The interest would be spent on things related to what we're losing as a power plant closes, such as jobs and property tax."
Comstock said the city will adopt matching documents and that the two governments will enter an agreement establishing the joint authority and its board. Under the agreement the county and the city each appoint two members and a taxing district could appoint a fifth member; Comstock said the county has offered the first invitation to the local school district.
The presenters said the authority's investment options are broader than typical government funds because of an amendment to state law enacted to give coal-settlement recipients more flexibility. "These special monies coming from coal communities could have a little broader, more flexible things," Comstock said, adding the change means the authority would not be limited to just bonds or CDs.
Representatives from the law firm Taft, Sherman & Howard — identified on the record as Parker and Alejandro — said they worked with city and county staff and attendees at multiple workshops on the documents. "You summarized it well," Parker said on the phone after the presentation.
The board approved the resolution by voice vote. Comstock said the next steps are for the county and city councils to appoint their members at upcoming meetings and then to work with the school district if it chooses to participate.
The resolution and the investment policy were presented as a package. No dissent or public opposition was recorded during the discussion.
