Economic Development Commission Business Meeting Summary - March 12, 2026

The Economic Development Commission (EDC) held its business meeting on March 12, 2026, at 6:30 PM in the Council Chambers. Vice Chair Weiler presided. Due to the absence of meeting minutes and a transcript, this summary is based solely on the published agenda and staff memorandum, which outlined the scheduled discussion items and provided background information.

Consent Calendar

• Approval of the March 12, 2026, meeting agenda and the February 12, 2026, meeting notes were listed as routine items for approval.

Public Comments & Testimony

• The agenda included a public comment period, but no public comments are recorded in the available materials.

Discussion Items

• Sponsorship Request – Golden Maker Social Club: The club, which previously received a $5,000 Thriving Communities grant, requested a $200 sponsorship from the EDC to provide refreshments at its kickoff event on April 8, 2026, at Foothills Art Center. The staff memorandum indicated support for the sponsorship, noting $3,400 remained in the 2026 Sponsorships line item. Commission action was requested.
• Continued Discussion on Backup Power Eligibility for the Small Business Support Grant Program: Following the December 2025 PSPS event, the EDC had expanded grant eligibility to include generators and backup power. Staff expressed concerns about cost and impact, and proposed two narrowing options: Proposal 1 – amend eligibility to electrical battery backups only, with a $2,500 matching limit per business and a total program cap of $10,000; Proposal 2 – table the discussion until after a planned Commercial Backup Power Open House and revert eligibility to prior years’ expenses. The Commission was expected to revisit the expanded eligibility.

Staff Reports

• Labriola Makerspace Tour Update: Staff provided an update on the tour of the Colorado School of Mines Makerspace, which occurred on Tuesday, March 10, 2026.
• Business Retention, Economic Development Initiatives, and Prospect Activity: Staff reported on recent retention visits and economic development activity, including a reference to the Golden Fashion Show.
• Sales, Use, and Lodging Tax Reports: Staff presented the December 2025 tax data (collected in January 2026). Key figures from the attached Council Memorandum include:
  • Sales tax collections for 2025 ended just under $1 million above 2024 levels, marking four consecutive years of growth, though full-year collections finished $773,640 below budget.
  • December 2025 sales tax collections were $95,377 below December 2024, potentially influenced by the PSPS event.
  • Use tax totaled $567,749 in December, a $24,489 increase year-over-year; full-year use tax outperformed each of the prior four years, finishing $888,621 above 2024 levels.
  • Lodging tax collections for 2025 were $2,875,316, which was $224,684 below budget but outpaced the prior three years.
  • Marijuana tax revenue finished 2025 $252,173 above budget, with consistent monthly growth since implementation.

Communications

• Updates were provided from GURA/DDA, the Golden Chamber of Commerce, and the Community Marketing Committee, though no specifics are recorded in the available materials.

Key Outcomes

• The February 12, 2026, meeting (last recorded minutes) resulted in the approval of an RFP for a Makerspace feasibility study (budgeted at $15,000) and a motion to modify backup power eligibility language to state the Commission “may consider generators and back-up power in a limited capacity,” with a follow-up discussion scheduled for this meeting. No voting outcomes or decisions from the March 12, 2026, meeting are documented in the provided sources.