For immediate release:
March 26, 2008

For more information contact:

Tom Lacock
Senior Marketing and Public Relations Specialist
Wyoming Business Council
Office: 307.777.2834
Email: tom.lacock@wybusiness.org

Shawn Reese
Investment Ready Communities Director
Wyoming Business Council
Phone: 307.777.2813
Email: shawn.reese@wybusiness.org

Community Facilities Projects get recommendations at board meeting

CHEYENNE – The Wyoming Business Council’s Board of Directors recommended four Community Facilities Grant and Loan Program applications worth $4,100,270 at their meeting in Worland today.

Their recommendations will be forwarded to the State Loan and Investment Board (SLIB) for final decision at their April 3 meeting in Room B63 in the Herschler Building of Cheyenne.

The Community Facilities Grant and Loan Program was created by the Wyoming State Legislature in 2005. The purpose of the program is to assist communities with grant and loan funding to construct local enhancements to a school building, facility or preserve former school and government facilities that have existing or future community uses. All projects must be related to economic or quality of life development. Facilities may be space for community gatherings and functions, recreational, swimming and athletic facilities for community members, particularly youth.

By statute, the Wyoming Business Council Board of Directors will forward all Community Facilities Program applications and their recommendations to SLIB, which 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 Superintendent of Public Instruction Dr. Jim McBride.

Business Ready Community or Community Development Block Grant applications were not reviewed at this meeting.

The CFP grant applications which will go before the WBC Board of Directors are:

The town of Kaycee was recommended for a $1.5 million grant for renovation of a former school. The project requires Americans with Disabilities Act(ADA) compliance updates, heating, ventilation and air conditioning (HVAC) and plumbing updates. The town currently leases space to child care, non-profit and private offices. Once renovations are complete the center will be used for senior gathering, community kitchen, small business incubation, general meeting space and a gymnasium for recreation and school use.

Teton County was recommended for a $600,000 grant to complete renovation of a former and historic schoolhouse. The renovations would include roof, electrical, plumbing, windows, doors, catering kitchen, general interior and landscaping updates, as well as the reinstallation of a cupola to house a bell. The portion of the building that has previously been renovated houses a pre-school center. The remainder of the structure would be used for activities such as social gatherings, club and community meetings and school age youth programming.

The town of Basin was recommended for a total of $750,000 for renovation of the upper floors to the Basin City Arts Center. The space would be renovated to improve flooring, underlayment, roofing, foundation support, ceiling, Americans with Disabilities Act access, restrooms and the addition of a warming kitchen. The refurbished space would provide the community an amenity not otherwise available in town. Plans for use of the space include after-school programming, museum displays, art, dance instruction and room for public and private rentals.

The town of Byron was recommended for   a $1,250,270 grant to renovate two structures, the “Lunch Room” and a separate former vocational building. Renovations made through grant funding would include: plumbing; heating, ventilation and air conditioning; electrical; general interior work and an Americans with Disabilities-compliant lift. Once renovated, the Byron Recreation Department will be able to relocate from inadequate facilities; the museum will be operational again after the previous location was condemned; a large community hall and warming kitchen will be available to the public. Town Hall and municipal offices will also be housed in the space.

The Board of Directors also approved several loans to Wyoming businesses through the Challenge Loan Program. The Challenge Loan Program allows the Council to participate with local economic development organizations and Wyoming lenders to purchase loans for the benefit of area businesses. The state can participate up to 35 percent of a project as long as the state portion does not exceed $250,000.  Under certain circumstance, the state portion can be as much as 50% to a cap of $500,000.

The board approved $250,000 bridge loan participation with First State Bank of Wheatland on a loan to Brent, LLC. to expand operations of Brown and company to Riverton.

The board approved $105,350 bridge loan participation with First State Bank of Wheatland on a loan to Drube Supply, Inc. of Wheatland.

The board approved bridge loan participation of $250,000 with Central Bank and Trust of Lander on a loan to Emause, LLC of Cheyenne.

The board approved bridge loan participation with Pinnacle Bank of Cody on a $250,000 loan to Silvertip Realty, LLC to expand a manufacturing business in Cody.

The Wyoming Business Council Board of Directors also approved two loans through the Wyoming Main Street Revolving Loan Program. The program is available to any business existing in a commercial area of any Wyoming municipality and funds may be used for construction or reconstruction-type work on a building including:  façade, roof, exterior wall assembly, foundation, windows, doors, cornice treatment, awnings and canopies.

The board approved a $29,512 loan to Lisa Rice of Sheridan, which will be used for a new roof, porch addition to the façade, paint and stain work on the exterior façade of her building at 65 Coffeen Ave. in Sheridan.

The board also approved a $100,000 loan to the Sheridan Heritage Center for structural renovation on the Sheridan Inn.

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

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