The Wyoming Business Council during their last meeting approved funding for the Cheyenne and Laramie County proposed project referred to as the Enhanced Use Lease (EUL).
The funding is provided through the Business Ready Community (BRC) Grant. Business Council staff review each application, conduct site visits, or conference calls in the case of planning grants, and make presentations to a board subcommittee before making final recommendations to the full board. These steps were taken and today the process was led to positive results of funding the development. Currently the project location is where the Cheyenne Frontier Days over-flow parking resides near Happy Jack Road.
“We are very excited to see another step being made to get a solution for housing for FE Warren and the community. We have a strong business partner who as a true vision for this project for Cheyenne and we look forward to the next step in success.” Shared President/CEO of the Greater Cheyenne Chamber of Commerce, Dale Steenbergen.
Reviewed by the State Loan and Investment Board (SLIB) today, Thursday, June 21st was the project:
- Cheyenne requests a $3 million grant and $1,337,455 loan for the extension of 12,000 linear-feet of water main, 11,400 linear-feet of sewer main and minor road improvements to assist the development of a mixed-use residential and commercial site. Total estimated private investment for the first two phases of the project is $95.6 million. The project is expected to help capture additional dollars from outside the community, support the growth and stability of F.E. Warren Air Force Base, address housing issues faced by service members on base and diversify commercial activity thanks to the development’s proximity to Interstate 25. (The Business Council board recommends full funding as requested contingent upon completion of the annexation, an environmental review and an executed lease between F.E. Warren Air Force Base and Balfour Beatty.)
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