Economic Development Council to file for incorporation

Corporation's name created; initial board formed to guide by-law organization, initial hiring process for potential employees

By RYAN SHERIDAN
Daily Press writer
The Craig Economic Committee met with their attorney attorney to finalize the steps towards incorporation. The committee also created a name for the new corporation, as well as a temporary board to guide the organization of the non-profit entity until the full membership and the executive committee is formed.
Committee members met with Attorney Tom Thornberry Thursday to outline the process.
"The actual filing of the articles of incorporation is a relatively simple task," Thornberry said. "We need nothing more than what the name of the entity will be, filed with the initial Board of Directors designated.
"The by-laws aren't needed for the filing, and they can take a good deal of time to organize. The person who is hired for the Economic Development Director position will have invaluable input particularly on how that person will interact with the board, his autonomy, and what exactly his authority is. The director should help in developing the by-laws."
Thornberry expects to file the Articles of Incorporation next week.
The EDC settled on Craig/Moffat County Economic Development Partnership, Inc. as the name of the corporation. The initial Board of Directors will have five members: Moffat County Commissioner Les Hampton, Colorado Northwest Community College Vice President Dean Hollenbeck, Craig City Manager Jim Ferree, a representative from the Craig Chamber of Commerce, and a representative from a local business. Hampton will move on to the executive committee as Moffat County's representative once the corporation is formed, while the City of Craig's and CNCC's representatives for the executive committee are not yet chosen Ferree and Hollenbeck will sit on the initial board until those selections are made.
Thornberry will begin reviewing the by-laws of similar corporations, and will work with Hollenbeck and Ferree to adapt selected texts to match the Craig/Moffat County Economic Development Partnership's needs.
"Tom will select the by-laws that fit us best, and then contact Jim and I to work on those," Hollenbeck said. "The first thing we will tell the director is that the by-laws need to be reviewed, and amended as needed. The by-laws need to show a clear line of authority [for the corporation]."
A job advertisement and job description were edited and approved. Once the final amendments are made the advertisement will be published on the states Economic Development Council's website, Monster.com, the Colorado Workforce Centers' website, and the Craig Chamber of Commerce's website.
The job advertisement will be published by Jan. 15, and a search committee will work to hire an Economic Development Director by April 1.
A pledge form for the five-year commitments from companies wanting to be a member of the corporation was reviewed. The pledge form will be a written commitment stating the amount of a companie's donation, but no money will be collected until an Enterprise Zone Designation is finalized in March. The designation will give companies a 25 percent tax credit based on their donations. The pledge form will be finalized by mid-January, and then sent to companies that have given a verbal commitment to the EDC.
According to Ferree, it is "a strong possibility" that the Economic Development Director's offices will be located at Craig City Hall, which will require some minor remodeling. CNCC will be supplying computer equipment, and Craig and Moffat County will be supplying office furniture and equipment.
The next EDC meeting will be held on Feb. 7.

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