SHERIDAN — Phase two of the Loucks Street reconstruction will start April 2, 2018, with Loucks shutting down throughout the spring and summer months with the exception of rodeo week.
Sheridan City Council approved the award of the project to Hot Iron, Inc. out of Gillette for $2,871,025. This total adds onto Loucks phase one reconstruction that spent $3 million of its estimated $3.2 million budget, causing the city to push back phase two in order to seek additional funding. Thompson reported success in finding additional funds through allocations from the city’s water funds, Capital Facilities Tax and state revolving funds.
Drinking Water SRF loan terms include 24 percent principal forgiveness with a 2.5 percent interest rate on a 20-year loan. A Clean Water SRF will also contribute to the project, with 50 percent principal forgiveness on a 20-year loan with a 2.5 interest rate.
“I’m pretty glad we got that much principal forgiveness on that loan,” Thompson said. “I can’t guarantee we’ll get it again, but we’ll always try.”
Citizens will need to utilize Highland Avenue for access to Kendrick Park and the community outdoor pool, as the closures block Loucks Street from Jefferson Street to Elk Street.
Councilman Alex Lee requested, for a second time since starting the reconstruction project, to relocate manhole covers out of the immediate path of vehicles.
“As someone who drives that twice a day and gets an alignment every two months, if you could get those moved that would be fantastic,” Lee said.
Thompson advised community members to keep watching the city’s social media websites as well as local media for updates on closures closer to the start of the project in April.