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11/30/2023 5:13:36 PM
 
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Section 4: General Subject: OPA/OPVFD: The Relationship Msg# 1195691
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Bruce, good to hear from you. I recall your debates/discussions with Pete Gomsak. 
You are essentially asking for what is already available. There have been public meetings where the issue of how much OPVFD had to spend on a new structure was disclosed, including some special grants it received recently from the state to spend on the structure. I have a copy of the OPVFD's audited financial report. This is the first step in determining how much of the Total Project Cost OPVFD can pony up and thereby figure out how much OPA should reasonably be on the hook for. I believe OPVFD has around $2.5 million, including the recent state grant. The project cost as put together by the GM and his group is about $4.5 million. The new structure at $4.5 million will not happen without $2.5 million or so from OPA (requiring a referendum), or an OPVFD loan for the $2.5 million with no referendum with OPVFD including the yearly loan repayment costs in the yearly request for OPA funding. Everything I wrote is subject to legal opinion. |
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For reference, the above message is a reply to a message where: A number of years ago when I was a member of the Budget and Finance Committee, I seem to recall that the OPVFD had substantially more than $1M in their ’Reserve’ fund. in fact that year OPA contributed dollars back then to increase their Reserve fund. The first step should be an examination and discussion of the OPVFD budget to see what other funds are available from their budget before OPA asks its members to fund. For example is there more than one OPVFD Reserve fund ie is the replacement reserve fund referenced the whole fund, or is it a sub set of total Reserves This is the first step in determining how much of the Total Project Cost OPVFD can pony up and thereby figure out how much OPA should reasonably be on the hook for. If there is other OPVFD reserve money available, this is exactly the type of thing that reserve money is designed to be used for. I suggest a comprehensive presentation of the details of the OPVFD budget and the recognition that this is the primary source of funding as laid out in the contractual agreements |
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