Fire Rescue is seeking to lease/purchase one (1) Rescue Truck consistent with our Apparatus Replacement Plan. The item seeks Councils approval to enter into a three (3) year agreement with U.S. Bancorp Government Leasing.

The current proposal, based on the Florida Sheriffs Association pricing has a total cost of $340,373.44 before financing. Purchasing has identified “piggyback” financing from U.S. Bancorp Government Leasing that provides for annual payments of $117,199.41 for a total cost of $351,598.23 after 1.64% financing. The proposed lease includes annual payments in arrears, making the first payment due October 1, 2016, therefore having no fiscal impact on the FY 2016 budget. Two leases, FifthThird and US Bancorp #1, and the 2001 Wachovia loan, three debts totaling $684,590 annually, will be fully paid in FY2016 providing funds available to enter into this lease arrangement.

The aging fleets cost of ownership has increased significantly in past years, and this purchase will impact those costs. In fiscal year 2015, Fire Rescue spent approximately $260,000.00 on maintenance and repairs of emergency response apparatus. The Department will need to purchase the vehicles identified in the Apparatus Replacement Plan to impact the rising repair costs. The purchase will stabilize a much needed and “mission-critical” resource within the Fire Department.

The current proposal includes one (1) fully equipped Rescue Truck. Vehicles are delivered fully equipped with all emergency equipment (i.e. lights, sirens, warning devices, etc.)