Addison Fire Department to Get New Aircraft Rescue Firefighting Apparatus

At the January 22 meeting, Council approved both an interfund loan to purchase a new $700,000 Aircraft Rescue Firefighting Apparatus, as well as the actual purchase of the vehicle. The Addison Fire Department is currently using a 2001 Aircraft Rescue Firefighting Apparatus which has reached the end of its useful life.
 
The plan discussed during the budget process was to lease a replacement vehicle since the Town's Capital Equipment Replacement Fund did not account for this vehicle's replacement. Unfortunately, the lease agreement requires the purchase of the vehicle at the end of the lease. Therefore, it is more cost effective to purchase the vehicle outright.
 
Staff determined that there are funds available to complete the purchase in the Infrastructure Investment Fund (IIF). Per the Town's finance policy in the Code of Ordinances, the IIF may be appropriated to support pay-as-you-go capital projects or significant non-routine capital expenditures of not less than $500,000.  At the January 22 meeting, Council approved an interfund loan from the IFF to the Airport Fund to cover the cost of the new vehicle. The Airport Fund will pay back the IFF over five years with interest estimated to be 2.75%.
 
The Airport Fund will also begin contributing to the Capital Replacement Fund to purchase future replacement Aircraft Rescue Firefighting Apparatus.
You can watch the Council's discussion on the vehicle purchase and funding here.