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Council approves build–operate–transfer deal for Fire Station 13, authorizes up to $9.5 million
Summary
Lebanon City Council adopted Resolution 2025-05 to award a public-private build–operate–transfer (BOT) agreement to GM Development Companies and partners for a new Fire Station 13, authorizing project costs not to exceed $9.5 million and directing the mayor to finalize transaction documents following bank financing.
The Lebanon City Council approved Resolution 2025-05 to award a public-private build–operate–transfer agreement to GM Development Companies, RQAW and Core Construction to design, build, operate and transfer a new Fire Station 13, with a project authorization not to exceed $9,500,000.
Kevin (staff member) introduced the recommendation and noted the project team was selected following the city’s RFP/RFQ process. Rob read the resolution, which references the city’s prior BOT authorization and states the city will enter an installment purchase agreement and participation agreement to acquire the completed project; the resolution authorizes the mayor to negotiate, finalize and execute the transaction documents.
Catherine Fanello, outside counsel with Dinsmore, and Annika Senikin of Baker Tilly provided financial context. Senikin said the city will solicit term sheets from banks and select the best offer; Baker Tilly anticipates an interest-only payment period of about three to five years followed by a balloon payment. Catherine Fanello said the resolution and transaction documents include blanks that will be filled with final financing terms but that the framework will not substantively change.
Council discussion noted multiple potential funding sources: general fund, redevelopment commission reserves, Polk Township unit reserves and LEAP revenues. Officials said financing specifics will be set after solicitation of bank term sheets and final counsel review; construction is expected to take roughly one to two years once underway.
The council held a public hearing before the vote. Sam Kornick, District Vice President of the Boone County Professional Firefighters Association Local 5195, spoke in support: “Supporting public safety is essential for maintaining order, protecting lives, and ensuring the community's overall well-being,” Kornick said. Steve Hayes, president of Boone County Professional Firefighters Local 5195 and a battalion chief in Zionsville, also addressed the council in support of the project.
A motion to adopt Resolution 2025-05 passed by voice vote. The resolution directs the mayor and clerk-treasurer to take actions to close the financing and acquire the project in accordance with the transaction documents and the city’s legal advice.
