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Council asked to authorize mayor to sign MOU dissolving NUGA and return member investments
Summary
Staff presented a proposed dissolution memorandum of understanding for the Northeast Wyoming Growth Alliance (NUGA) and a plan to distribute member investment returns; the alliance's funds total about $230,001 and staff recommended authorizing the mayor to sign the MOU.
City administration asked the Sheridan City Council to authorize the mayor to sign a memorandum of understanding to dissolve the Northeast Wyoming Growth Alliance (NUGA) and distribute member investment returns during the Aug. 25, 2025 study session.
City Administrator Stuart McCray reviewed NUGA's origin in 2016 as a regional partnership among Sheridan, Gillette and Buffalo to support economic-development marketing. McCray said initial investments were $50,000 each from Sheridan and Gillette (about 36% each of the total), $28,000 from Buffalo and $10,000 from Johnson County First, totaling $138,000. He said activity tapered off after early 2019 and that funds were later managed by the joint powers board and ultimately transferred to the city.
McCray reported the current NUGA account balance was $230,001.18 as of the previous Thursday, reflecting investment earnings while funds were held. He said Buffalo had requested dissolution in July and that staff circulated a draft dissolution MOU to Gillette and Buffalo; Gillette provided edits. McCray asked council to authorize the mayor to sign the dissolution MOU so the city treasurer could distribute member investment returns according to the agreed percentages, subject to a specified cutoff date in the MOU.
Ending: Council did not take a formal vote at the study session; staff recommended mayoral authorization to sign the dissolution MOU and to distribute the funds after all member signatures are collected and attested.
