Council Discusses Funding Agreement With Impact 307, Sheridan County

A funding agreement between Sheridan County, the City of Sheridan and Impact 307 was presented to the City Council at a study session Monday night. Sheridan Media’s Ron Richter has the details.

Impact 307, Sheridan’s business incubator, offers entrepreneurial programs and resources for those interested in starting a new business or early-stage entrepreneurs wanting to grow. City Attorney Brendon Kerns provided the City Council with a brief overview of Impact 307 and how the City has played a role in recent years.

In February, the Council voted not to allocate $80,000 in funds to Impact 307 and that’s when Sheridan County proposed a new funding agreement between all parties involved. Kerns said the new funding agreement proposes semi-annual payments of $30,000 over a period of two years.

Kerns said the money identified would come from the City’s general fund, unless the Council appoints some other fund in their budgeting process that they would rather have the money come from. No action was taken by the Council, but the funding agreement is expected to be considered at an upcoming business meeting.