City Receives Loan For Final Phase of Project

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(Photo By Ron Richter)
(Photo By Ron Richter)

Thursday, the State Land and Investments Board, or SLIB, which is made up of the top five elected officials in the state of Wyoming, approved a Drinking Water State Revolving Fund loan for phase three of the Wyoming Park neighborhood project in Sheridan.

City Project Manager Joe Schoen attended the meeting in Cheyenne and says that the $562,000 loan that was approved will allow for completion of the multi-phased project.

Schoen added that it's still uncertain when the third phase of the project would get underway.

Schoen said that current city water and sewer revenues are earmarked to repay the loan requirements of $281,000. The loan will have terms of 2.5 percent interest for 20 years. The remaining balance of the $281,000 will be forgiven as a 50 percent grant, which is part of the loan agreement.

SheridanWyoming.com

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