Sheridan Wyoming, FEBRUARY 2, 2016: The Wyoming State Loan and Investment Board (SLIB) approved a $3,296,663.00 Clean Water State Revolving Fund (CWSRF) loan for the City of Sheridan North Interchange project at its meeting in Cheyenne today.
Today, SLIB comprised of the top five elected officials for the State of Wyoming, approved a CWSRF (Drinking Water State Revolving Fund) loan for the North Sheridan Interchange Project. The City of Sheridan requested funding to replace old, corroded sanitary sewer and storm sewer systems within the project limits as part of the North Sheridan Interchange project. With the project completely replacing and reconstructing the roadway, this represents an opportunity for the City of Sheridan to replace the deteriorating sanitary sewer system and installing new storm drain treatment systems beneath North Main Street.
Mayor Roger Miller attended the State Land and Investments Board meeting.
According to Mayor Miller, “The North Sheridan Interchange principal forgiveness funding is an opportunity for the City of Sheridan to replace aging and degrading infrastructure along North Main at a substantial cost savings. We truly appreciate our State Legislature continuing to fund these programs and our local state elected officials for being supportive of our local infrastructure needs.”
The SLIB Board approved a loan of $3,296,663.00 with an interest rate of 2.5% and 10% principal forgiveness ($329,666). The principal forgiveness can be considered as a grant that does not need to be paid back and is a huge win for our community.