Business Council board recommends two projects
The Wyoming Business Council Board of Directors recommended two Business Ready Community (BRC) grant requests during its May 24 quarterly meeting in Gillette.
The Business Council board also accepted a staff proposal to adjust its allocation plan to create more emphasis on community development infrastructure projects in its Business Ready Communities grant and loan program.
The allocation plan was established following budget cuts to preserve money for the highest priority infrastructure projects. The plan’s new emphasis on community development is in line with the ENDOW Executive Council, Wyoming Legislature and Gov. Matt Mead’s recent actions to emphasize community assets and amenities.
BUSINESS READY COMMUNITY (BRC) GRANT APPLICATIONS
Business Council staff review each application, conduct site visits, or conference calls in the case of planning grants, and make presentations to a board subcommittee before making final recommendations to the full board.
About the Program: The Wyoming Business Council administers the Business Ready Community 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 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.
The SLIB will make final decisions on BRC project requests at its 8 a.m. meeting on June 21
Cheyenne requests a $3 million grant and $1,337,455 loan for the extension of 12,000 linear-feet of water main, 11,400 linear-feet of sewer main and minor road improvements to assist the development of a mixed-use residential and commercial site. Total estimated private investment for the first two phases of the project is $95.6 million. The project is expected to help capture additional dollars from outside the community, support the growth and stability of F.E. Warren Air Force Base, address housing issues faced by service members on base and diversify commercial activity thanks to the development’s proximity to Interstate 25. (Board recommends full funding as requested contingent upon completion of the annexation, an environmental review and an executed lease between F.E. Warren Air Force Base and Balfour Beatty.)
Riverton requests a $50,000 grant to develop a strategic plan for economic development. The plan will help Riverton improve infrastructure, develop its workforce and improve the city’s quality of life. (Board recommends full funding as requested.)
For more information about these projects, visit the Wyoming Business Council website, www.wyomingbusiness.org, or call 1-800-262-3425.