Coeur d'Alene Fire Department eyes general obligation bond
BILL BULEY | Hagadone News Network | UPDATED 1 year, 6 months AGO
Tymesen
Bill Buley covers the city of Coeur d'Alene for the Coeur d’Alene Press. He has worked here since January 2020, after spending seven years on Kauai as editor-in-chief of The Garden Island newspaper. He enjoys running. | June 29, 2024 1:09 AM
COEUR d’ALENE — The Coeur d’Alene Fire Department is considering a general obligation bond that could go to voters in May 2025.
The bond “is necessary to fund our replacement of fire apparatus and capital improvement needs for updating/expanding current fire stations,” a city staff report said.
The estimated amount of the bond and its cost to property owners were not available Friday.
"The city needs to bring in a financial adviser in order to provide an accurate picture of what the financial impact will be to property owners," said City Administrator Troy Tymesen. "The adviser will assist with the look at interest rates to be anticipated as well as the city’s total valuation. The goal will be to keep the term at 10 years just like the previously approved General Obligation bond."
The department is looking to expand stations 1 and 3 and expand and remodel Station 2. It wants to replace an aging fire engine, a ladder truck and command vehicles, as well as upgrade station alerting systems and buy self-contained breathing apparatus.
The estimated 2025 cost of a pumper engine is $1.2 million. A ladder truck is $2.3 million, and command vehicles are $950,000.
“In order to maintain the current level of Fire & EMS service delivery within the City, a General Obligation Bond is necessary to fund our replacement of fire apparatus and capital improvement needs for updating/expanding current fire stations,” the report said.
“To fund these needs from the City’s general fund would be impossible,” the report said.
Fire Chief Tom Greif is scheduled to make a presentation to the City Council on Tuesday, with a request to contract with a firm to begin planning for the bond.
The cost for a municipal advisory firm is estimated at $50,000. The city has $140,000 in its Debt Service Fund it could use for that purpose.
The city ran its first public safety general obligation bond for $7 million in 2005, and it received 74% approval.
In 2015, 85% of Coeur d’Alene voters supported a $6 million, 10-year public safety bond to fund capital expenditures for the police and fire departments. It replaced the 10-year bond approved by voters in 2005 and ends in August 2025.
The cost to property owners, then, was low.
“After a homeowner's exemption, the owner of a median priced home ($192,500) in Coeur d’Alene will pay $23.45 per year for the public safety bond,” according to a 2015 city report. “The previous bond, the rate on a home that price is $28.65 per year.”
The City Council is scheduled to meet at 6 p.m. in the Coeur d’Alene Public Library Community Room.
ARTICLES BY BILL BULEY
Companions Animal Center has adopted out nearly 2,000 dogs, cats in 2025
Companions Animal Center has adopted out nearly 2,000 dogs, cats in 2025
As if to prove it, signs on two kennel doors proclaim “I have been adopted! I’m currently waiting to be picked up by my new parents.” One is a timid black mastiff. But the shelter remains crowded. Monday, it has about 50 large dogs filling kennels, including in the new wing oped this year, and there is still a four-month waiting list with names of about 80 dogs that people are looking to surrender pets.
Post Falls man named director of ministry with global reach
Post Falls man named director of ministry with global reach
Grassi, a longtime hunter and fisherman, started what was originally called “Let’s Go Fishing Ministry, Inc.” with a focus on outdoors, men and God. It was later changed to “Men’s Ministry Catalyst." The emphasis was on helping men understand their role as defined in the Bible.
Nonprofit foundation helps family become homeowners for first time
Nonprofit foundation helps family become homeowners for first time
The Young Family’s Foundation launched about a year ago with a mission "to empower young, hardworking families to achieve the dream of home ownership. Even if a family saved $25,000, they would still be $19,000 short of the down payment needed to buy a $550,000 home, which is the median price in Kootenai County. It’s estimated that only about 20% of area households can afford to buy a home.