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Jan. 28, 2010
For More information contact:
Kim Sears, Marketing and Public Relations
Wyoming Business Council
Office: 307.777.2834
Email: kim.sears@wybusiness.org
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SLIB approves over $20 million in grants to Wyoming communities
CHEYENNE – The State Loan and Investment Board (SLIB) approved over $14.5 million in Business Ready Community (BRC) grant applications and over $5.6 million in Community Facilities (CFP) grant applications at its meeting today in Cheyenne.
The Wyoming Business Council administers both the BRC and CFP programs. The Business Council Board of Directors is required by statute to forward all its BRC and CFP recommendations to the SLIB for final approval. During the board’s Dec. 3, 2009 meeting in Cheyenne, it recommended the SLIB approve funding for 14 of the 21 BRC applications received, and five of the six CFP applications received. The board’s recommendations and more in-depth project reviews are available at www.wyomingbusiness.org.
The SLIB is made up of the five statewide elected officials: Gov. Dave Freudenthal, Secretary of State Max Maxfield, State Treasurer Joe Meyer, State Auditor Rita Meyer, and State Superintendent of Public Instruction Dr. Jim McBride. Before the Business Council board makes its recommendation to SLIB, staff reviews each application, conducts a site visit, clarifies questions with the applicant, presents to a board subcommittee and makes a recommendation to the board.
The Business Council, a state government agency, concentrates its efforts on providing assistance for existing Wyoming companies and start-ups, helping communities meet their development and diversification needs, and recruiting new firms and industries targeted to complement the state’s assets. The agency is run by a board of directors and a chief executive officer.
BUSINESS READY GRANT APPLICATIONS
The Business Council administers the BRC Program that provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities. The SLIB reviewed the Business Council Board’s recommendations for 21 BRC applications totaling $22.8 million, leaving over $13.5 million available for funding in the remainder of this biennium.
The following are the requests fully-funded by the SLIB:
• BAGGS received a $34,492 BRC grant to help beautify the town. The community match, made up of cash and in-kind, is $34,493.
• CHUGWATER received a $471,271 BRC grant to install infrastructure to create industrial and business ready lots. The community cash and in-kind match is $62,224.
• CODY received a $730,223 BRC grant to purchase a building and land to attract manufacturers. The community match is $81,135.
• EVANSVILLE received a $1.5 million BRC grant to fund infrastructure to create business ready lots in a 74-acre business park and to improve existing infrastructure for the town. The community match, made up of cash and in-kind is $595,509.
• GUERNSEY received a $112,594 BRC grant to construct walking trails near the downtown’s historic plaza along the Platte River. The community match, made up of cash and in-kind is $113,341.
• LARAMIE COUNTY received a $1.5 million BRC grant to construct a spec building for Cheyenne LEADS. The in-kind match is $601,128.
• LOVELL received a $330,598 BRC grant for the Lovell Business Incubator Facility. The in-kind match is $75,245.
• LYMAN received a $1.5 million BRC grant, which is partial approval of its original BRC application for $1,623,747. The application is to construct a building on three downtown lots to provide usable space for four to five businesses. The in-kind match is $186,663.
• NATRONA COUNTY received a $1,493,580 BRC grant to fund improvements to Morgan Street located within the airport’s business park. The community match is $165,533.
• POWELL received a $450,000 BRC grant to construct a building to facilitate the expansion of Gluten Free Oats. The community match is $50,000.
• RANCHESTER received a $489,500 BRC grant to enhance the town’s entryway and downtown. Please note, the Business Council Board approved $300,000 in CDBG funding as well, which does not have to be approved by the SLIB. The community match comes from $44,500 in-kind funds and another $145,000 in Mineral Royalty funds.
• WASHAKIE COUNTY received a $1,937,133 BRC grant to develop Phase I of the Fair View Industrial Park. The community match, made up of cash and in-kind, is $215,126.
• WESTON COUNTY received a $500,000 BRC grant to construct a building for an events center. The community match, made up of cash and in-kind, is $569,000.
The SLIB provided full funding for one request not recommended by the Business Council Board:
• TETON COUNTY received a $455,715 BRC grant to develop mountain biking and hiking trails for the Jackson Hole Trails Project.
The SLIB provided partial-funding for two requests not recommended by the Business Council Board:
• DUBOIS received $1.5 million in BRC funding to construct an assisted living facility. The original request was for $3 million.
• LARAMIE received $1.5 million in BRC funding for the Basic Beginnings Early Learning Center, a child care and early childhood education project in Laramie. The original request was for $2,983,102.
The SLIB did not approve one request recommended for funding by the Business Council Board:
• LARAMIE’S request for a $482,516 BRC grant to construct an underpass crossing at Grand Avenue - Garfield Street for a trail system. The community match, made up of cash and in-kind is $507,484.
The SLIB did not fund the following requests in accordance to the recommendations of the Business Council Board:
• CHEYENNE’S request for a $285,820 BRC grant to fund park enhancements located in the Saddle Ridge neighborhood in Cheyenne.
• LANDER’S request for a $497,319 BRC grant to purchase two pieces of property and demolish a building for the use of a downtown parking lot.
• LYMAN'S request for a $1,457,300 BRC grant for road and infrastructure enhancements to a lot that was identified for a future senior center and assisted living facility.
• RIVERTON’S request for a $2,466,000 BRC grant to construct a building to facilitate the expansion of Child Development Services of Fremont County, Inc.
COMMUNITY FACILITIES GRANT APPLICATIONS
The Business Council administers the Community Facilities Grant and Loan Program, which assists communities with grant and loan funding to construct local enhancements to a school building or facility or preserve former school and government facilities that have existing or future community uses. The SLIB reviewed six CFP applications totaling over $5.8 million, for which $8.6 million is available for funding this biennium. The SLIB approved full funding of five requests recommended for funding by the Business Council Board for a total of $5,618,745.
The following are the requests fully-funded by the SLIB:
• ENCAMPMENT received a $1,005,158 CFP grant to renovate the historic Grand Encampment Opera House. The in-kind match is $318,095.
• ROCK SPRINGS received a $1,493,946 CFP grant to renovate an existing city-owned structure that formerly housed the West/Rock Theater into a multi-use, performing arts and cinema venue for Sweetwater County. The community match, made of cash and in-kind, is $661,830.
• EAST LARAMIE COUNTY JOINT POWERS BOARD received a $1,498,500 CFP grant to update the former Pine Bluffs High School building for continued use as a community center. The in-kind match is $395,000.
• LINCOLN COUNTY received a $1,300,451 CFP grant to rehabilitate and convert an existing vacant school located in Etna into a community center. The in-kind match is $366,000.
• SUBLETTE COUNTY received a $320,690 CFP grant to renovate the Daniel Schoolhouse for community use. The in-kind match is $208,056.
The SLIB did not fund the following request in accordance to the recommendation of the Business Council Board:
• PARK COUNTY’S request for a $192,248 CFP grant to renovate the historic DeMaris House, which will serve as a local museum.
The mission of the Business Council is to facilitate the economic growth of Wyoming. The Business Council, a state government agency, concentrates its efforts on providing assistance for existing Wyoming companies and start-ups, helping communities meet their development and diversification needs, and recruiting new firms and industries targeted to complement the state’s assets. For more information, please visit www.wyomingbusiness.org.
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