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5 s <br /> ®range Rural Fire Department <br /> PO Box 1511 <br /> Hillsborough, NC 27278 <br /> September 27, 2021 <br /> I <br /> Orange County Finance <br /> Atten: Rebecca Crawford <br /> PO Box 8181 1 <br /> Hillsborough, NC 27278 <br /> Dear Rebecca: <br /> I <br /> I <br /> The Orange Rural Fire department would like to request approval from the Board of <br /> County Commissioners for funding the construction of a new proposed fire/EMS station J <br /> that will be located in the Waterstone community, specifically at 350 College Park Rd. <br /> Hillsborough, NC. <br /> This station is needed to support citizens in the southern part of the Central Orange fire <br /> district, where some are currently considered "uninsurable" due to distance from our <br /> current locations. The station is currently proposed to be a fire/EMS station, awaiting <br /> approval from the county. The fire station is approximately 13,000 sq, ft; with the fire <br /> station being 7,818 square feet. The amount that we are proposing represents the fire <br /> station side only. If approved, the station will house a full-time, 24-hour engine <br /> company, consisting of a fire engine and two to three full-time staff. <br /> We have applied for funding from three different banks and have found that Roxboro <br /> Savings Bank has offered the Orange Rural Fire Department the best suited finance <br /> option. The Orange Rural Fire Department proposes to finance $2,700,000.00. The <br /> financing options are 2.73 percent fixed rate for 25 years. Making our payment <br /> $12,428.00/month. We chose to put down $1.3 million. The bank loan rate is $500.00 <br /> and there is no penalty for early payoff. <br /> I <br /> 3 <br /> In our current year budget, we have a debt service line item, that covers the payments <br /> for this loan with no new tax increase. <br /> Sincerely <br /> Steve Summey, President <br /> 206 S.Churton St. www.ORFD.net <br /> Hillsborough,NC 27278 admin@orfd.net <br /> (919)732-7911 <br /> Fax: (919)644-1338 <br />