SHERIDAN — The Downtown Sheridan Association is moving forward with the initiative to form a Downtown Development Authority
“We’re in the process of collecting signatures of property owners,” said Joanne Garnett, board member and owner of Orion Planning Group. “We started a few weeks ago and we need to get 25 percent of owners in the area before we can bring it to the City Council.”
Twenty-five percent of downtown business owners equates to roughly 100 signatures. Garnett said no information is available regarding how many signatures have been collected so far. Sheridan Mayor Dave Kinskey indicated he was among the first to sign.
DSA Executive Director Stacie Coe said she feels very confident business owners will be in support of the initiative.
If approved, the Sheridan DDA would work closely with the DSA to implement a work plan and potentially work out financing efforts concentrated on the improvement of Main Street businesses and infrastructure.
Coe said if the DDA is formed, it would likely pursue a tax increment financing initiative that would guarantee sales taxes collected in the business district are invested within the same geographical area. Before a TIF could be enacted, it would have to be approved via public voting.
The DSA has until Aug. 20 to collect the endorsements.
The DSA also elected new officers effective immediately. They are: Joanne Garnett, president; Bill Heide, vice president; Chris Carroll, treasurer; and Jenny Loomis, secretary. They will serve two-year terms.