Business Council Board Recommends two BRC Applications at may 11 meeting

Cheyenne, Wyo – The Wyoming Business Council (WBC) Board of Directors recommended two Business Ready Community (BRC) grant and loan funding requests during its regular quarterly meeting which was held virtually on May 11, 2022.

Other business conducted at the meeting included reviewing contracts with the University of Wyoming Business Resource Network, Manufacturing Works, and others; presentation of the FY2021 Financial Audit Report and the SBIR FY2021 program report; as well as updates from all of the WBC teams.

A meeting recording is available on the WBC’s YouTube channel. The board’s next quarterly meeting is scheduled for Sept. 8, 2022, in Rock Springs. More details will be available on our website prior to the meeting.

BRC projects considered at the May 11 board meeting:

Business Committed
The Town of Lyman requested a $3 million Business Committed grant and a $3 million loan for the construction of a 16,000-square-foot assisted living facility. When completed, the facility will include 22 apartments, a complete kitchen and dining area. The proposed facility will be located on a 2.6-acre site across from Town Hall in an area that is currently used for parking overflow.

The board did not recommend this request.

Community Readiness
The town of Hudson requested a $248,513 Community Readiness grant to extend the town’s existing water line from Kansas Avenue approximately 600 yards under the little Popo Agie River to Frank’s Meats and the surrounding land. The extension will serve two businesses and stub out to the adjacent 12 acres of land for further business or residential expansion opportunities. The project will also serve five existing residences that would not have to haul water anymore.

The board unanimously recommended this request.

Community Project
The town of Sinclair requested a $240,000 Community Project grant to stabilize and repair the exterior façade of the Sinclair Historic Theatre. This will be the final phase of a multi-year project to renovate, revitalize, and ensure the Historic Theatre is operational as a community gathering place.

The board unanimously recommended this request.

ABOUT THE BUSINESS READY COMMUNITY (BRC) PROGRAM

The Wyoming Business Council administers the BRC grant and loan program which provides financing for publicly owned infrastructure that serves the needs of businesses and promotes economic development within Wyoming communities. The WBC team thoroughly reviews and vets each application, conducts in-person or virtual site visits, and presents to a board subcommittee prior to making final recommendations to the full Board of Directors.

The Business Council board is required by statute to forward BRC grant and loan recommendations to the State Loan and Investment Board (SLIB) for final approval. The SLIB is comprised of the five statewide elected officials: the Governor, Secretary of State, State Auditor, State Treasurer, and State Superintendent of Public Instruction.

SLIB will make final decisions on BRC project requests at its 8 a.m. meeting on June 2.