The Downtown Sheridan Association will move forward with plans of hiring a consultant to conduct a feasibility study on creation of a Downtown Development Authority in Sheridan.
The Sheridan City Council recently approved a request from DSA in the amount of $30,000 to develop a downtown business plan that includes the feasibility analysis on establishing a DDA.
DSA Executive Director Stacie Coe says that there will be an education process that will go along with the analysis.
Coe explains how having a Downtown Development Authority would benefit Sheridan.
The total cost for the analysis and plan is $50,000. The Sheridan City Council approved $30,000 of One-Cent option contingency monies to help fund the study; DSA will fund the remaining $20,000.
Coe said preparing the downtown business plan and feasibility study on development of a Downtown Development Authority will be about a 6 to 8 month process.
Other communities around the state that have developed and implemented successful DDA's are Cheyenne, Casper and Rawlins.