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ORANGE COUNTY FIRE RESCUE STUDY <br />NEW HOPE <br />i <br />2 Tax Rate and Revenues <br />3 <br />4 The District tax rate is $0.0625. This translates into projected revenues of <br />5 approximately $318,000. The Department also receives appro~mately $100,000 from <br />6 Durham County. <br />7 <br />8 Debt <br />9 <br />10 The Department owes approximately $440,000. The loans represented by this debt are <br />11 for building construction and improvement and apparatus acquisition. Quarterly debt <br />12 reduction payments are approximately $20,500. <br />13 <br />14 <br />15 Projected capital needs <br />16 <br />17 The Department's capital needs over the coming years, in the ne~ct couple of years in <br />18 particular, relate to the need to renovate Station #2. The Department also plans to <br />19 replace apparatus in the five to seven year time frame. No estimate of costs was <br />20 provided but we estimate approximately $1,300,000. ~ <br />21 <br />22 <br />23 Observations and Issues <br />24 <br />25 New Hope is in the unusual position of having an increase in call volume while a decrease in <br />26 its tax district. New Hope has had portions of its District annexed by both Chapel Hill and <br />27 Carrboro, and there is no reason to expect that will not continue. This year alone, the <br />28 District will loose $80,000 in tax revenues. The Department does have a contract with <br />29 Carrboro to cover the area annexed but that may end in five years. Eventually this will <br />30 erode the response area, reduce the number of calls and affect membership morale and level <br />31 of participation. <br />32 <br />33 The Department's two stations adequately serve its needs but Station #2 need's renovation. <br />34 It does not have dormitory facilities, and the office space, exercise area and apparatus bay <br />35 are in serious need of expansion and renovation. <br />36 <br />37 The Department currently has an ISO rating of 9S. Given the number of inembers, available <br />38 pumping capacity, and water points in the District, the Department should be able to reduce <br />39 this rate and save its residents in insurance premiums. One critical component for this <br />40 reduction is certification and documentation of water supply sources. Another is the ability <br />41 to ensure sufficient resources respond to week daytime calls. <br />42 <br />47 <br />