STAR VALLEY RANCH PROPOSED COMMUNITY CENTER- INFORMATION/HISTORY/BACKGROUND
History – There have been several committees previously organized by the Star Valley Ranch Association (SVRA). The Long Range Planning committee and the Barn Silo Task Force both looked at modernizing and updating the structures to better utilize the space on a year round basis. These groups ultimately determined that the cost to residents would be prohibitive. The SVRA had proposed that the Town take over ownership of the barn/silo and make improvements, but the Town declined as that would require a 70 % vote of the Association membership and the Town cannot financially assume the burden.
FACTS – Where are we today?
- The current committee was organized as a partnership by both the Town and the SVRA. All members were mutually agreed upon and selected by both entities.
- This committee is focused on securing grant monies to minimize costs to residents.
- 3 different grants are being considered which are funded by the State of Wyoming. Each grant application is posted on the SVRA website in its entirety allowing interested individuals to review.
- Community Facilities: $1 Million grant/loan – “…enhance existing facility for community use”
- Business Committed: $1.5 Million grant/loan –“…provide funds where a business has committed to relocate”
- Community Readiness: $1 Million grant/loan – “…new business development thru projects such as facilities”
- This committee is focused on preparing all of the necessary information required for application for available grants. As part of the grant submission, a facility will be designed, based upon the desires of the community offset against financial feasibility of the various aspects included in the project. Building and operating costs will be determined and evaluated closely in advance of the grant submission. The SVRA Board will be responsible for the approval of all aspects of the grant application and the resulting financial requirements of the project. Every effort will be made to maximize the use of grant dollars and reduce the financial burden to the community.
MOVING FORWARD IF GRANTS ARE APPROVED
- The SVRA cannot qualify for any of the grants, only a municipality (the Town) can qualify for grants. Therefore the SVRA will lease the barn/silo buildings and property to the Town for 40 years (required by the Grant as the Town must own or have a long term lease to qualify). The SVRA will lease back the entire building at a rate sufficient to repay any loans and cover building maintenance costs and reserves.
- SVRA offices will be relocated to the Community Center to allow for significant savings to SVRA in operating costs of multiple facilities (utilities and maintenance).
- If community priorities and majority support of the membership/citizenship is evident, the current SVRA businesses, restaurant/café, bar and pro shop, will be placed in the Community Center. What will be determined is whether SVRA will operate those businesses or if it would be advantageous to lease the space to a tenant who would be responsible for the business.
- Numerous financing and budget decisions will have to be considered contingent upon grant funding approved and funds required for construction and renovation. Decisions may include utilization of reserve funds currently maintained on account and or possible increases in association annual dues.