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Lincoln County approves $500,000 PILT loan to Bull Lake Rural Fire District
Summary
The Lincoln County Board of Commissioners approved a $500,000 Payment In Lieu of Taxes (PILT) loan to the Bull Lake Rural Fire District to finish construction of a new fire hall. The loan will follow a proposed five-year amortization at 2% with annual December payments; a contract will be drafted for execution.
The Lincoln County Board of Commissioners on Dec. 10 approved a $500,000 PILT loan to the Bull Lake Rural Fire District to complete the construction of its new fire hall.
Commissioners discussed a proposed five-year amortization schedule at a 2% interest rate and asked staff to draft a contract formalizing annual payments in December. The board signaled support during the meeting and the motion to approve the loan carried by voice vote (all in favor; names not specified in the record).
Bull Lake representatives described years of volunteer work, donated equipment and surveying, and prior investment of roughly $350,000 into the project. They said completing the station will serve as a local resource center, improve ISO ratings and bolster emergency response for the growing area and planned subdivisions.
Commissioners noted the regional benefits, including jobs and wage payments to local firefighters when the district contracts for wildland work, and emphasized the county’s capacity to fund the loan from available PILT funds. County staff will prepare a contract using an existing loan template, name the district point of contact and return paperwork for execution.
Outcome and next steps: the board approved the loan and staff will draft a contract and coordinate disbursement and repayment scheduling.
