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City to issue RFP for $10.6M public-safety financing; CRA parking financing also outlined
Summary
Staff said an RFP will be issued seeking financing for $10.6 million in public-safety projects (police annex, Fire Station 2 renovation and Fire Station 3 construction) and a related CRA parking facility financing of about $7 million; a recommendation to the commission is expected in late July.
City finance staff described Resolution 2026-08 as a housekeeping declaration of intent to reimburse expenditures from future loan proceeds and presented plans to issue an RFP to secure financing.
Dorothy Abbott said the RFP will be split into two series: Series 2026A for approximately $10,600,000 to cover police and fire projects (police annex renovation, Fire Station 2 work and construction of Fire Station 3) and Series 2026B for about $7,000,000 related to the CRA parking facility. Abbott said staff and financial advisor PFM (Jake Glover) will issue the RFP and expect responses in late June, with a staff recommendation to come back to the commission around July 21 and a potential closing in late July if the commission accepts a bidder.
"This gives me and Jay two weeks to look at them and discuss anything to come up with the best option," Abbott said. She noted roughly $2.4 million has already been expended from fund balance and a previously approved fire truck (about $990,000) is scheduled to arrive in September or October.
A commissioner asked for confirmation that the $10.6 million pertains to public safety; staff confirmed the amount and scope. Abbott said the RFP will include language reserving the city’s right to negotiate terms with bidders.
No formal vote on the debt issuance occurred at the meeting; staff will return with recommended lender or terms for the commission to consider in a public meeting.
