BRC Community Readiness

BRC Community Readiness is sponsored by Wyoming Business Council. Supports communities in preparing for business development by building necessary infrastructure.

Community Readiness - Wyoming Business Council The BRC Community Readiness program assists communities in preparation for business development as set forth by W. S. 9-12-601 .

In a Community Readiness project, no specific business is committed to expanding or locating in the community. Instead, the community is focused on building the necessary infrastructure to prepare for future business development supported by community planning documentation.

Cities, Towns, Counties, Tribes, & Joint Powers Boards Can be combined with a BRC Loan Required Match of 20% (Half Cash) Required Match of 10% (Half Cash) Required Revenue Recapture Plan (See below) Max of 1 application per calendar year per applicant Regional Director Review 2 weeks prior to Application Due Date Application Due Date: on or before June 1st or November 1st Publicly Owned Infrastructure: Water, Sewer, Roads, Telecommunications, Airports, Rights of way, Land, Speculative Buildings, Amenities within a Business/Industrial Park, Recreation Facilities, etc. Work directly with your regional director on defining the project and creating an application Submit draft application to your regional director 2 weeks prior to Application Due Date Submit final application including all required materials on or before September 1st WBC team review and analysis of application & materials Ask additional questions and perform a Site Visit Request a 3rd party Economic Impact Analysis of the project Investment Committee Meeting Consideration of Investments Team recommendation and analysis Consideration of current recommendation Consideration of the Board of Directors recommendation Construction Period (Typically 2 years) Reporting Period (Typically 5 years) W.

S. 9-12-601 to 9-12-603 Find A Regional Director to Explore your Options Revenue generated by the applicant must be recaptured at a negotiated rate commensurate with the public investment. If the total net revenue generated is less than the BRC grant amount, then no less than 25% of net revenue shall be recaptured to the BRC fund.

However, if the total net revenue generated is equal to or more than the BRC grant amount, then no less than 25% of the BRC award shall be recaptured to the BRC fund. Revenue paid to the BRC fund shall not exceed the original grant amount of the project. Revenue recapture requirements may be satisfied by repayment of a BRC loan or via revenue recapture payments unless otherwise prohibited by applicable statutes, rules or regulations.

All funds recaptured at the local level shall be placed in a segregated economic development account or separate line item within a budget. No more than 50% of local recapture may be used for operational expenses of the agent of the applicant such as a local economic, community, or state organization if matched dollar-for-dollar by local funds.

The Council staff may, at its expense, conduct an audit of records of the agent for the applicant Revenue recapture must be repaid to the BRC fund annually or according to a schedule agreeable to Council staff.

Development Agreement Template Lease & Purchase Agreement Template 2-Party Development Agreement Template Resolution BRC Program Template Community Projects Resolution BRC Program Template Loan Project Contacts Form (WORD) WBC Standard Photo Release (WORD) Pay App Reconciliation for Drawdown Requests (EXCEL)