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Capital Improvement Grant to receive additional $117K on budget; here’s a list of all DDA finance adjustments

The DDA's budget increased by $55,500 for the upcoming year.

Downtown Cheyenne (Photo by Stephanie Lam / Cap City News)

CHEYENNE, Wyo. — The Downtown Development Authority Board amended its budget for the 2024 year at its meeting Thursday. In total, the budget received an additional $55,500 for the upcoming year.

Budgeting for the Capital Improvement Grant increased by $117,000, while resources for Façade Improvement Program Grants decreased by $100,000 as no grants for that program have been awarded. The program will now be $150,000 after the reduction.

DDA Board members added $40,000 for an American Rescue Plan that’s aimed at providing business owners with COVID rental assistance. These funds were not used in 2023 and were therefore carried over into the current year’s budget.

The downtown authority’s total budget for 2024 is $1,236,150, according to Cheyenne City Treasurer Robin Lockman.

Here are all changes outlined in the budget amendment:

  • An increase of $40,000 in revenue for an American Rescue Plan grant
  • An increase of $1,000 in revenue for a travel reimbursement grant
  • A decrease of $5,000 in revenue on the city’s fundraising account
  • An increase of $19,500 in revenue as a result of higher interest rates
  • An increase of $7,500 in expenses for new docking stations and computers for DDA staff
  • An increase of $200 in expenses for telephone costs at the DDA’s office on 17th Street
  • An increase of $500 in expenses for cleaning expenses at the 17th Street office
  • An increase of $1,000 in expenses for the cost of office supplies purchased in October 2023
  • An increase of $500 in expenses to cover bond for the executive director
  • A decrease of $450 in expenses for utilities due to overbudgeting
  • A decrease of $7,000 in expenses for event management services from Visit Cheyenne
  • A decrease of $100,000 in expenses due to no grants being awarded for the Façade Improvement Program Grants
  • An increase of $117,000 in expenses due to more grants being awarded for the Capital Improvement Grant

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