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Record of Proceedings

Economic Development Commission Business Meeting - June 11, 2026

City Council & Boards — Thursday, June 11, 2026
BodyGolden, Colorado
SessionCity Council & Boards
DateThursday, June 11, 2026
StatusFILED
Video Record
0:00 / 1:21:05

Original source
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0:00

I'm gonna call the June 11th 2026 Economic Development Commission Business Meeting to order.

0:09

Do you roll call?

0:11

Hartman.

0:12

Here.

0:12

Atkins.

0:13

Here.

0:13

Trout.

0:14

Here.

0:14

Toy.

0:15

Here.

0:16

Here.

0:17

Weisswork.

0:17

Here.

0:18

And it looks like Jim is Jim Wyland is absent.

0:21

You have a coral.

0:22

All right, great.

0:24

Um motion to approve the agenda.

0:29

So moved.

0:30

Second.

0:31

All in favor.

0:33

Aye.

0:34

Aye.

0:37

All right.

0:39

Um May 20 May 14th minutes.

0:46

Is there a motion to approve the May 14th minute?

0:52

Motion to approve the May 14th meeting.

0:55

Second.

0:56

Second.

0:58

All in favor.

1:00

Okay.

1:01

All opposed.

1:04

Okay.

1:05

Public comment.

1:07

We have not.

1:08

All right.

1:10

So that brings us to new discussion and action topics.

1:14

Right.

1:15

And I think this is gonna be uh really exciting meeting, I hope, for you all.

1:20

Um I did an economic development one on one session at City Council on Tuesday and kind of floated a number of these ideas that uh Baxter and I had kind of cooked up before his departure.

1:32

Um, but are really exciting things that are building on the exact success that Edcom has built.

1:38

And uh you know, we're we wanted to have a discussion uh with this meeting following that that economic development 101 with council about those items and to get um the board's input on this and how we want to deal with uh a couple of these key initiatives.

1:55

Um so I think the first one is just kind of an update.

1:59

So we'll we'll give you guys an update on the makerspace feasibility study.

2:04

Um we've really been trying to push uh our consultants out there to get us our fees back.

2:09

We have one back that was not terribly great, and we've really been waiting for uh um one in particular that has done a lot of other uh studies in Colorado.

2:20

We are seeing that today.

2:22

Uh and so I will forward that to you all for review um once we um kind of get into it.

2:28

Um one thing that is that was noted in our our phone conversations with some of these consultants is that our initial budget of $15,000 was almost universally regarded as too low.

2:40

Um the uh the most recent proposal from the the folks we were really hoping to hear from was in fact double at 30,000.

2:51

And I think that is what it's probably going to take, just given kind of understanding the market a little bit better and talking to these consultants.

2:59

And so um, yeah, I think I'd like to open a board discussion with you all about uh ideas about how we can come up with that money.

3:09

Um you all have your marked uh $15,000 for the study and look at our budget, but also um maybe consider other uh city resources or partnerships uh such as community driving communities.

3:21

Um so wanted to open the conversation for you all to um let's talk through our options and if you have any questions about uh some of our learnings and interactions with these consultants, I'm happy to provide that feedback as well.

3:36

So uh the ball is in your courtyard.

3:40

The ones that you talked to that proposed 30,000, do you think they would be able to achieve this scope and the ask of the proposals?

3:50

Yes, and so I think that was the issue.

3:52

I think especially because of there's a lot of nuance, I think, with the the makerspace um folks who have been so active here, and there are like a lot of things that would require, I think, a boots on the ground visit, and that was the large cost adder.

4:07

Um, and I think it's important, and I think it would result in the best possible study to have someone do a visit to Golden.

4:15

And so I think that was the that was a larger adder for most that basically took it from a $15,000 desktop study to um you know coming and meeting with stakeholders and seeing potential sites and stuff like that, and I think that's a much more thorough um job done for that feasibility study, so I would encourage looking to expand the scope to meet the folks at that $30,000 range.

4:41

Um, and so I think that's a challenge to us to figure out exactly how we want to deal with that.

Discussion Breakdown — Share of Meeting
Economic Development█████████████████████████████████████████████64%
Budget Equity Analysis███████10%
Community Engagement██████8%
Public Safety███4%
Procedural██3%
Fiscal Sustainability██3%
Grants Management█2%
Affordable Housing█2%
Public Engagement█2%
Summary of Proceedings

Economic Development Commission Business Meeting - June 11, 2026

The Economic Development Commission (EDComm) met on June 11, 2026, at 6:30 PM in Council Chambers. The meeting covered updates on the Makerspace Feasibility Study, discussions on 2027-2028 programming and budget priorities, and staff reports on economic development activities and tax revenues. No formal votes were taken on major items, but the Commission provided direction to staff on several initiatives.

Consent Calendar

  • Approved the agenda for the June 11, 2026 meeting.
  • Approved the meeting notes from May 14, 2026.

Public Comments & Testimony

  • No public comments were made.

Discussion Items

Makerspace Feasibility Study Update

  • Staff reported that only one proposal had been received for the Makerspace feasibility study, with an initial budget of $15,000. Consultants indicated this was insufficient, with a recommended budget of $30,000 for a thorough study including site visits. The preferred consultant, Artspace Consulting (Minnesota), proposed a scope including stakeholder engagement, ecosystem assessment, site evaluation, financial analysis, and actionable recommendations. Commissioners expressed concern about the cost increase and the need for due diligence, including a site visit to the Clear Creek Makerspace in Wheat Ridge. The Commission agreed to explore funding options: splitting the cost between fiscal years 2026 and 2027, or seeking other city funds. Staff will obtain the consultant's proposal and arrange a site visit for interested commissioners before the next meeting.

2027-2028 Programming and Budget Item Discussions

  • Business Advisor Program (Golden Mentor Network): Staff presented a proposal to expand the pilot program (launched Fall 2023 with 6 businesses) to a permanent program serving two cohorts of 6 businesses annually, at an estimated cost of $60,000 per year. The pilot achieved 100% positive outcomes. Traxion would partner to deliver mentorship. Commissioners supported making this a priority and requested metrics on return on investment. Staff will invite Traxion to present at a future meeting and will refine the budget ask.
  • Economic Contribution Study 2026 Update: Staff proposed commissioning an updated study (previous study cost $11,700, based on 2023 data). The Commission supported pursuing this as a recurring priority, with interest in trend analysis and targeted analyses for major developments like ClayWorks and the Junction. Staff will obtain cost estimates.
  • Funding of Key Economic Development Tools (B2B website and Bludot CRM): Staff requested moving these tools (combined annual cost ~$12,000) from EDComm's discretionary budget to permanent General Fund support. The Commission supported this approach to free up EDComm funds for other priorities. B2B recorded over 2,000 page views and nearly 500 visitors in 2024, and the tools enable staff to reach ~70% of Golden businesses annually.

Staff Reports

  • 2026 Budget: Up to date; detailed discussion deferred to next meeting pending priority cost estimates.
  • Business Retention and Economic Development: Staff reported 14+ direct business contacts in the past month. A Business Power Resiliency Event (June 3) had about 7 in-person attendees; a recording will be shared. The SBDC Leading Edge for Entrepreneurs scholarship opportunity was promoted citywide but received no applications.
  • Sales, Use, and Lodging Tax Reports: Q1 2026 data received: sales tax slightly up, use tax down 11% (following a strong 2025), lodging tax down 5.5% year-over-year, marijuana tax up. Overall revenues steady.
  • Communications/Other Boards: DDA engaged with key landowners; GURA's Nazarene Plan Area moving toward adoption (40 affordable housing units); Communications hired a new Events Coordinator and is close to selecting a creative agency of record.

Key Outcomes

  • Makerspace Feasibility Study: Direction given to explore cost-split funding (FY2026/2027) or alternative city funds, obtain the consultant's proposal, and arrange a site visit to Clear Creek Makerspace for commissioners.
  • Business Advisor Program: Recognized as a priority; staff to develop a formal proposal with Traxion and present metrics.
  • Economic Contribution Study: Supported as a priority; staff to obtain cost estimates for an updated study.
  • B2B and Bludot Tools: Supported moving to General Fund permanent funding; staff to advocate to City Manager and City Council.
  • Commission Elections: Chair Lauren Hartman and Vice Chair Tracy Atkins (effective May 14, 2026) were acknowledged.

Meeting Transcript

I'm gonna call the June 11th 2026 Economic Development Commission Business Meeting to order. Do you roll call? Hartman. Here. Atkins. Here. Trout. Here. Toy. Here. Here. Weisswork. Here. And it looks like Jim is Jim Wyland is absent. You have a coral. All right, great. Um motion to approve the agenda. So moved. Second. All in favor. Aye. Aye. All right. Um May 20 May 14th minutes. Is there a motion to approve the May 14th minute? Motion to approve the May 14th meeting. Second. Second. All in favor. Okay. All opposed. Okay. Public comment. We have not. All right. So that brings us to new discussion and action topics. Right. And I think this is gonna be uh really exciting meeting, I hope, for you all. Um I did an economic development one on one session at City Council on Tuesday and kind of floated a number of these ideas that uh Baxter and I had kind of cooked up before his departure. Um, but are really exciting things that are building on the exact success that Edcom has built. And uh you know, we're we wanted to have a discussion uh with this meeting following that that economic development 101 with council about those items and to get um the board's input on this and how we want to deal with uh a couple of these key initiatives. Um so I think the first one is just kind of an update. So we'll we'll give you guys an update on the makerspace feasibility study. Um we've really been trying to push uh our consultants out there to get us our fees back. We have one back that was not terribly great, and we've really been waiting for uh um one in particular that has done a lot of other uh studies in Colorado. We are seeing that today. Uh and so I will forward that to you all for review um once we um kind of get into it. Um one thing that is that was noted in our our phone conversations with some of these consultants is that our initial budget of $15,000 was almost universally regarded as too low. Um the uh the most recent proposal from the the folks we were really hoping to hear from was in fact double at 30,000. And I think that is what it's probably going to take, just given kind of understanding the market a little bit better and talking to these consultants.

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