Cheyenne, WY – The Wyoming State Loan and Investment Board has enacted emergency rules in anticipation of federal stimulus funding for water and sewer projects.
Wyoming expects to receive nearly $39 million for its Clean Water and Drinking Water state revolving fund loan programs.
But the funding comes with some strings attached. For one, the state must lend the money to local entities without interest and with some principal forgiveness, making the loans more like grants.
Also, 20 percent of the money must fund environmentally friendly projects.
With the board's approval of the emergency rules Monday, state officials can begin receiving grant applications. The federal funds must be spent within a year, and officials say they could begin approving projects in June.