The Wyoming State Loan and Investment Board (SLIB) approved a $1,306,000.00 Clean Water State Revolving Fund (CWSRF) loan and a $931,000 Drinking Water State Revolving Fund (DWSRF) loan for the City of Sheridan North End Utilities 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 North End Utilities Project. The City of Sheridan requested funding from the CWSRF Program to install approximately 7,000 linear feet of sanitary sewer main and a lift station. The lift station and sewer mains are located north of the interchange and go to the new Sheridan County School District No. 2 elementary school site.
The City of Sheridan requested funding from the DWSRF Program for the North End Utilities Project. This project will install approximately 7,000 linear feet of water main and appurtenances. The water line being installed will provide water to the new Sheridan County School District No. 2 elementary school site and provide an option for existing residents to tie to city water instead of wells.
According to Mayor Miller, “The North End Utilities Project SRF loan funding is an opportunity for the City of Sheridan to install water and sewer infrastructure to benefit the community. 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 $1,306,000 with an interest rate of 2.5% and 25% principal forgiveness ($326,500) and a DWSRF loan of $931,000 with an interest rate of 2.5% over 20 years. 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.