Moffat County adopts resolution to create Economic Development Authority for coal-settlement funds

The Moffat County Board of County Commissioners voted to approve Resolution 2025-76 on Aug. 12, 2025, establishing the Moffat County Economic Development Authority and adopting an investment policy for money from the Tri-State coal-settlement and any future donations.

The resolution, presented by Jeff Comstock, director of natural resources and economic development, creates a separate five-member authority intended to hold principal in perpetuity and spend only earnings on economic development projects. Under the agreement, the county and the City of Craig will each appoint two board members and a taxing district would appoint the fifth member; Comstock said the county would first offer that seat to the local school district.

Comstock told commissioners the authority is enabled by a recent amendment to the statute governing coal-community settlement funds that allows greater investment flexibility than typical government funds. He said the policy allows the authority to use a broader set of investments and to work with investment advisors instead of limiting the funds to bonds or certificates of deposit.

Counsel from the law firm Taft Sherman and Howard — identified on the record as Parker and Alejandro — joined by phone and told the board the documents reflect input from county, city and school-district workshops and were ready for adoption. The board voted to approve the resolution; commissioners said they will appoint authority board members at the next meeting.

The authority’s stated purpose on the adoption paperwork is to preserve principal and use earnings for grants, loans or other expenditures to support new jobs and to offset losses tied to the power-plant closure. No dissent or conditions were recorded during the resolution vote.