Sheridan Inn Managers Focus On Paying Down Debt
SHERIDAN, Wyo. (AP) — The board that operates the Historic Sheridan Inn plans to focus on paying down a $1.4 million debt rather than fundraising to finish renovations at the Sheridan landmark.
Sheridan Heritage Center board President Jacob Brooks says the future of the inn is still a little uncertain.
The bank holding the loan has agreed to lower interest payments through the end of the year. But, if payments cannot be made following the first of the year, there is still the potential the inn could be foreclosed.
Brooks tells The Associated Press that ideally pledges would be received to cover both the loan repayment and renovations.
It will cost about $2 million to complete renovation of the inn.
The board has pledges of $755,300 so far.