Salt Lake City Council Approves Fire Department Pumper Lease with PNC Bank

In a recent South Salt Lake City Council work meeting held on July 23, 2025, council members discussed two key matters, with a significant focus on the financing of a new fire department pumper engine. Council Chair Sharla Bynum welcomed attendees, including Mayor Wood and staff, before introducing the first agenda item concerning equipment financing.

Fire Chief Addison outlined the need for a new velocity pumper, emphasizing that the current engine is nearing the end of its frontline service life. The proposed lease, similar to previous arrangements, would allow the city to acquire the vehicle through a tax-exempt lease purchase agreement with PNC Bank. This financing method is designed to save the city money, providing a $115,000 discount on the vehicle's price. The council would need to pass a resolution to authorize the lease, which entails five annual payments of approximately $238,261, starting in the second year after the agreement is signed.

Chief Addison noted that the lease structure not only offers low interest rates—currently estimated at 4.35%—but also includes protections such as a performance bond. This ensures that if the vehicle is not delivered on time, the city would receive a refund of the payments made.

The meeting also briefly addressed the appointment of a new regular member to the Civil Unity Board, with Mayor Wood confirming the transition of Brandon from an alternate to a full member, pending action in the regular meeting.

As the council concluded the work session, they prepared to transition into their regular meeting, where further discussions and decisions would take place. The outcomes of these discussions are expected to have lasting implications for the city’s emergency services and governance structure.