WLC developed a financing strategy for Pinedale’s Phase IV and V Infrastructure Improvements. Through this plan, WLC secured more than $6.1 million in a two component funding package from the Wyoming State Revolving Fund program administered by the Office of State Lands and Investments. Fifty percent of the funding is in the form of a principal forgiveness loan, or grant, and the remaining 50 percent is in the form of a low interest loan (2.5% for a 20 year term). This funding was provided through the American Reinvestment and Recovery Act. The overall project consisted of water, sewer, street, and storm drainage improvements. By securing this financing and having the Town pledge the income generated by its investments, WLC eliminated the need for the Town to increase its water and sewer rates. Without supplemental financing, a community is normally obligated to increase these rates to a level that will pay off the loan. With a population of only 1,412, Pinedale’s rates would have increased substantially to service the debt on the more than $3 million loan.
