For Release:
June 5, 2008

Rachel Girt
Marketing and Public Relations Manager
Wyoming Business Council
Office: 307.777.2851
Cell: 307.631.4681

Wyoming Business Council board busy in Saratoga

SARATOGA – The Wyoming Business Council Board of Directors met at the Platte Valley Community Center of Saratoga today to review grant and loan requests, contracts with its University of Wyoming partners as well as the work done by the Wyoming Business Council’s State Energy Office.

Five Business Ready Community applications worth $9,922,692 and one Community Facilities Grant application worth $1,073,531 is being recommended to the State Loan and Investment Board (SLIB) for its final decision at a June 19 meeting at 8 a.m. in room B63 of the Herschler Building in Cheyenne. By State statute, the Wyoming Business Council Board of Directors forwards its recommendations for all applications for Business Ready Community and Community Facilities funding to SLIB for final decision. 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.

BUSINESS READY COMMUNITY GRANT AND LOAN PROGRAM

The board recommended full funding for four Business Ready Community (BRC) Grant and Loan Program applications and partial funding for one application. The board did not recommend for funding the town of Pinedale’s application for a $2,690,188 BRC grant, noting that the application needed more development. All applications will be forwarded to SLIB for final approval.

The board made the following recommendations:

The town of Glenrock is recommended for a $1.5 million BRC grant to construct a building to recruit and grow A-Square of Wyoming, LLC. A-Square manufactures and exports high-power rifles and ammunition. Glenrock will provide a community match of $376,285.

Sublette County is recommended for a $3 million BRC grant to purchase land and construct a building which will be leased by Callaghan Cabinets and Millwork, LLC. Sublette County will purchase the property and construct a commercial facility for the expansion of cabinet manufacturing. Sublette County will provide a match of $330,000.
The city of Evanston is recommended for a $1.5 million BRC grant to construct a quarter-mile section of Commerce Drive, as well as install water, sewer and related infrastructure. The Commerce Drive expansion will give both current and future Union Center businesses easier access to I-80 and the airport, while simultaneously avoiding a high density residential area with potential safety hazards. Evanston will provide a community match of $911,644.

Teton County is recommended for a $1.5 million BRC grant and a $1.5 million loan to construct a new parking lot, restrooms and guest services associated with Teton Village. The new paved parking lot will enable enhanced year-round tourism as well as new business development and redevelopment at Teton Village. Teton County will provide a match of $4,211,160.

Sweetwater County is recommended for partial funding at $922,692, which is half its original application of $1,660,846, to upgrade 1.7 miles of County Road 4-15, which services Bridger Coal. The goal of this project is to increase production time and operational efficiency at Bridger Coal’s underground mine so as to economically sustain coal deliveries to the nearby Jim Bridger Power Plant.

The town of Pinedale is not recommended for a $2,690,188 BRC grant to complete Phase II and Phase III of the Westside Water Project. Phase II and Phase III would construct a 12-inch water line and loop the water main from the school property on Highway 191 north to a private residential and commercial development, the Bloomfield Annexation. The Bloomfield Annexation is 237 acres, 52 acres of which are zoned for commercial development. Pinedale would provide a community match of $298,909. The board recommends the town work on its agreement with the developer of the Bloomfield Annexation and its plans for town owned commercial property.

COMMUNITY FACILITIES GRANT AND LOAN PROGRAM

The board made the following recommendation on the single application for Community Facilities Grant and Loan Program (CFP) funding:

The Washakie County Joint Powers Board is recommended for a $1,073,531 CFP grant for the Worland Community Center Complex. Renovations will include installation of an automatic sprinkler system, bathrooms, a commercial kitchen, masonry and floor repair, stage construction, windows, parking lot, and general interior work. The city of Worland will provide a match of $300,000.

COMMUNITY DEVELOPMENT BLOCK GRANTS

The board approved five Community Development Block Grant (CDBG) requests worth $125,000.

The city of Cody is approved for a $25,000 economic development planning only grant. The city provided $8,333 in matching dollars or 25 percent of the total project cost of $33,333. In 2007, the city of Cody received a Business Ready Community (BRC) award which will provide infrastructure to a 345 acre business park, the North Cody Light Industrial Area. Included in the business park are 65 acres of land the new infrastructure will access. Planning for the full industrial development of those 65 acres is the purpose of this planning grant.

The city of Green River is approved for a $25,000 economic development planning only grant. The city of Green River provided $40,000 and the Sweetwater County Travel and Tourism Board provided $10,000 in matching dollars or 67 percent of the total project cost of $75,000. According to the Wyoming Department of Transportation (WYDOT), approximately 17,000 vehicles pass through Green River on Interstate 80 per day – a number projected to double by 2020. Anxious to capitalize on that traffic flow, the city will like to develop a comprehensive downtown development plan. Additionally, the city is beginning to explore how to best maximize the development to the north of Interstate 80 made possible by a Business Ready Communities Community Readiness Grant.

Hot Springs County is approved for a $25,000 economic development planning only grant. Hot Springs County Recreation District provided $8,333 in matching dollars or 25 percent of the total project cost of $33,333. A community assessment conducted for Thermopolis and Hot Springs County in 2003 indicated that residents felt a recreation center or community facility was needed. Funds will be used to conduct a feasibility study evaluating current users and programs versus future needs, community and economic impact, potential sites, artist renderings of a potential facility and other services.

The town of Ranchester is approved for a $25,000 economic development planning only grant. The town provided $8,333 in matching dollars or 25 percent of the total project cost of $33,333. One of the top priorities, according to a community assessment in 2008, was the development of a plan for the business district. Funds will be used to hire a consultant to analyze existing elements of the business district including: how to make Ranchester an appealing location for new entrepreneurs; what types of jobs might be created; identifying areas of blight that need to be addressed; current zoning regulations and identifying elements that may hinder the success of a healthy business district.

Uinta County is approved for a $25,000 economic development planning only grant. Uinta County provided $8,334 in matching dollars or 25 percent of the total project cost of $33,334. The town of Lyman owns a lot across the street from the current library and has agreed to donate the land if the library is able to construct a new building. Funds will be used to hire an architect to develop conceptual drawings and cost estimates for a new building that would fit the donated site.

The CDBG program is a federally funded pass through grant program from the U.S. Department of Housing and Urban Development. Economic Development activities under the CDBG program help communities with downtown projects, infrastructure projects and planning activities such as feasibility studies or growth management plans. Community Development activities under the CDBG program help communities with public infrastructure, handicapped accessibility and community facilities projects. This year there is $1.06 million in the Economic Development CDBG account and $1.25 million in the CDBG Community Development account. Grant requests for CDBG’s do not need to be approved by the SLIB.

WYOMING PARTNERSHIP CHALLENGE LOAN PROGRAM

The board also approved the following three Challenge Loan participations with local banks for Wyoming businesses:

Bridge loan participation with First Interstate Bank of Riverton in the amount of $131,250 to Lloyd D. Haslam and the Crowheart Store.

Guarantee loan participation with Security First Bank of Cheyenne on a $92,500 loan to Countryside Disposal, LLC.

Challenge loan participation renewal request of $2.5 million for the Wyoming Industrial Development Corporation in Casper.

The mission of the Wyoming Business Council is to facilitate the economic growth of Wyoming. For more information, please visit our Web site at www.wyomingbusiness.org.

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