$24.5M house sold at auction

A big house that couldn’t find a buyer on the open market had better luck on the auction block July 28.

What the house at 5300 N. Prince Place went for wasn’t revealed, but the 11,500-square-foot place did find a new owner, said Ed Liebzeit, the Jackson Hole Sotheby’s International Realty associate broker who had the listing.

The house is in a place near Jackson Hole Golf and Tennis Club rarely seen by random motorists. It was built in 1993 for Bill Newton, a longtime Jackson resident who is active in philanthropy. The house was designed by Jackson architect Tom Ward and built by Bancroft Construction.

Liebzeit called it “a lovely home ... built to highest-quality standards.”

The house sits on 40 acres near the confluence of the Snake and Gros Ventre rivers and is crossed by several creeks. The house has four bedrooms and four baths, views of the Tetons and the Sleeping Indian and backyard golfing on its own three tees, greens and bunkers.

The auction was held by Concierge Auctions.

— Mark Huffman

(The house's approximate location has been corrected. — Eds.)

Relief Fund requests pour in

Demand for financial aid proved so great that Gov. Mark Gordon shifted $10 million into a fund created to assist businesses and nonprofits that lost revenue and incurred extra expenses because of COVID-19.

The $10 million pads the Relief Fund, created to disburse grants of up to $300,000 to Wyoming businesses with 100 or fewer employees and to a range of nonprofits.

“We encourage all eligible entities to apply now as funds may not be guaranteed as we near the maximum amounts allocated,” a press release said, quoting Josh Dorrell, CEO of the Wyoming Business Council, which is administering the relief grants.

The extra $10 million that went into the Relief Fund came out of the separate Mitigation Fund, which is strictly to compensate for health and safety expenses related to the coronavirus. Originally the Relief Fund had $175 million, with $50 million set aside to aid businesses of the kind that were specifically named in pandemic closures. Now the fund has a total of $185 million.

As of Tuesday morning, a week after the program opened, requests for nearly $178 million from the Relief Fund had already poured into the Business Council.

Applications for a total of $46.4 million were filed by 508 businesses of the kinds named in closure orders. Given that the $50 million set aside is about to be spoken for, the council said it would soon close applications but said “those entities can still apply for the general Relief Fund dollars while they are available.”

By Tuesday morning the council had received 1,494 applications from entities not covered in closure orders, for a total of $131.2 million.

For the Mitigation Fund, now $40 million, the council received 418 applications totaling $20.9 million.

Both funds are part of the COVID-19 Business Relief Program created by the state Legislature in May to distribute $325 million in federal Coronavirus Aid, Relief and Economic Security Act allotments.

In addition to the Relief Fund and Mitigation Fund the program included the Interruption Fund, which is already infusing $100 million into small businesses around the state.

“Eligible applicants for the Interruption Fund received payment within 21 business days after application review began,” Dorrell said in the release “We anticipate a similar schedule for the Relief and Mitigation funds.”

— Jennifer Dorsey

Jennifer Dorsey is chief copy editor and Business section coordinator. She worked in Washington, D.C., and Chicago before moving to the Tetons.

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