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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: September 20, 2005 <br />Action Agend~ <br />Item No. <br />SUBJECT: Approval of Tax-Exempt Financing Arrangement for Efland Volunteer Fire <br />Company, Inc. to Purchase Land <br />DEPARTMENT: Budget <br />PUBLIC HEARING: (YIN) No <br />ATTACHMENT (S): <br />Attachment 1. Letter from Efland <br />Volunteer Fire Company, Inc. Board of <br />Directors President <br />Attachment 2. Map of Parcel Proposed <br />for Purchase <br />Attachment 3. Public Hearing Legal <br />Notice from News of Orange <br />Attachment 4. Fire District's Minutes from <br />August 22, 2005 Public Meeting <br />Attachment 5. Fire Service Agreement <br />Attachment 6. Certificate of Approval <br />INFORMATION CONTACT: <br />Donna Dean 245-2151 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To approve a request from Efland Volunteer Fire Company, Inc. to enter into atax- <br />exempt financing arrangement to purchase land and authorize the Board of Commissioner <br />Chair to sign the appropriate documents related to the financing arrangement. <br />BACKGROUND: During last spring's budget planning process, Efland Volunteer Fire Company, <br />Inc. outlined its plans to acquire land and construct a second fire station in the near future. In <br />the attached letter addressed to the County's Budget Director, Mr. Ronnie L. McAdams, <br />President of the Efland Volunteer Fire Company, Inc. confirmed the department's intent to <br />proceed with the planned purchase (Attachment 1 of this abstract). <br />The property is located on Highway 70 across from Hancor, Corporation (Attachment 2 of this <br />abstract is a tax map of the property). The parcel offers direct access to bath Highway 70 and <br />Frazier Road. The department believes that this location will help with response time on calls in <br />the northern half of the district. Members from the Efland Fire Department have worked with <br />the County's Fire Marshal, and staff from the Planning and Inspections and Environmental <br />Health departments to ensure that the 19-acre site meets regulations and requirements <br />necessary far future construction of a fire station. <br />The purchase price of the land totals $120,000. The Department's Board of Directors agreed to <br />barrow $78,000 from SunTrust Bank in Hillsborough to finance the purchase and to pay the <br />