SHERIDAN — The Wyoming State Loan and Investment Board approved nearly $19 million in Business Ready Community grants and loans at its meeting Thursday in Cheyenne.
The city of Sheridan requested a $1 million Community Readiness Grant for the Sheridan Northwest Infrastructure project. The request was approved by SLIB in full.
“We’re extremely fortunate to receive our full request, and it’s definitely a huge win for Sheridan,” Public Works Director Nic Bateson said.
Grant funds will be used to extend Yellowtail Drive and public infrastructure, particularly sewer mains, further into the High Tech Business Park north of Sheridan. This will serve the proposed sites of the Sheridan College large animal science facility and the First People’s Center for Education national teaching institute, Bateson said.
Overall project cost for the Northwest Infrastructure project is $1.5 million. The remaining $500,000 will be funded with One-Cent and water and sewer capital program funds.
Bateson said the city applied for the same grant last year and was denied. This year, the city had obtained grant funding from the Wyoming Water Development Commission to begin work on the North Main water loop project, which will provide redundant water service and enable the city to install private utilities for future growth in the area. Since the projects will go hand-in-hand, Bateson believed SLIB was more inclined to approve grant funds for the Northwest Infrastructure project.
Rough designs for the project have been completed and Bateson hopes it will be mostly completed this construction season. The water loop project is slated to begin in the fall.
Also on Thursday, SLIB approved a $300,000 Mineral Royalties Grant for use in the city’s Wyoming and Park Streets project, which is currently under construction and should wrap up by late fall, Bateson said.
The Wyoming Business Council administers the Business Ready Community program, which provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development in Wyoming communities. The WBC board of directors forwards all Business Ready Community grant requests to SLIB for final approval.
The State Loan and Investment Board is comprised of five statewide elected officials: Gov. Matt Mead, Secretary of State Max Maxfield, State Treasurer Mark Gordon, State Auditor Cynthia Cloud and State Superintendent of Public Instruction Cindy Hill.