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Perris council OKs hybrid funding approach for new South Fire Station 105
Summary
Council approved staff’s recommended hybrid funding plan (combining assigned reserves, development impact fees and a secured line of credit) to finance a new South Fire Station 105, with an estimated project cost of about $15.4 million; staff will return with financing details and draw schedules.
The Perris City Council voted to proceed with a hybrid funding strategy for Fire Station 105, combining assigned reserves, a portion of unassigned reserves/DIF and a secured revolving line of credit to finance an estimated $15.4 million project.
Assistant City Manager Ernie Reyna told the council design is roughly 95% complete and presented four options: (1) all…
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