Sheridan County to Apply for $3 million SLIB Loan

Sheridan County’s Commissioner voted to approve submitting a loan application to the State Loan and Investments Board (SLIB) for the historic Courthouse and Jail Rehabilitation project.

County Administrative Director Renee Obermueller explained that originally the county planned to apply for a $2.6 million loan, but she is now suggesting a $3 million application.

Obermueller said the loan will have a 2.5% interest rate, and the county plans to pay off the remaining roughly $250,000 on an existing loan for a previous jail and courthouse project.

The idea is to be debt free and free up cash for future needs and take advantage of the low interest loan program.

The application deadline is May 1, and the SLIB is expected to make a decision on the application in August.