Sheridan Wyoming, April 6, 2017: The Wyoming State Loan and Investment Board (SLIB) approved a $300,000.00 Clean Water State Revolving Fund (CWSRF) loan and a $600,000 Drinking Water State Revolving Fund (DWSRF) loan for the City of Sheridan Loucks St Phase II Reconstruction Project at its meeting in Cheyenne today.
Today, SLIB, comprised of the top five elected officials for the State of Wyoming, approved a CWSRF and DWSRF loan for the Loucks St Phase II Reconstruction Project. The City of Sheridan requested funding from the CWSRF Program to install two new storm drain treatment systems and replace the sanitary sewer system due to the old, deteriorating sanitary sewer mains, manholes and services that are allowing infiltration into the system within the project limits. The storm drain treatment systems, installed on each side of Big Goose Creek, will help the City reduce the TMDL and TSS levels within Big Goose Creek as it enters Kendrick Park. The overall project will replace an undersized storm drain system that is not functioning properly.
The City of Sheridan requested funding from the DWSRF Program for the Loucks St Phase II Reconstruction Project. This project will replace aging, corroded and leaking 10-inch ductile iron water mains in W Loucks St. High corrosive soils have caused this water main to have multiple water line leaks in the last five years.
Mayor Roger Miller attended the State Land and Investments Board meeting.
According to Mayor Miller, “The Loucks St Phase II Reconstruction Project principal forgiveness funding is an opportunity for the City of Sheridan to replace aging and degrading infrastructure along Loucks St. 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 CWSRF loan of $300,000 with an interest rate of 2.5% and 50% principal forgiveness ($150,000) and a DWSRF loan of $600,000 with an interest rate of 2.5% and 24% principal forgiveness. 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.
For more information please contact Nic Bateson at 307-675-4248.