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Board approves amendment to lease for purchase of 2026 John Deere loader; staff outlines costs
Summary
The board approved amending a five-year capital lease with 1st American to purchase a 2026 John Deere wheel loader and related equipment. Staff said the vehicle list price is about $222,000; added attachments increase the lease and raise the annual payment by roughly $49,000.
The Board of Finance voted to amend a five-year capital lease with 1st American to purchase a 2026 John Deere wheel loader and related attachments and authorized the select authority to sign the documents. Staff said the base vehicle price is about $222,000, and that attachments are wrapped into the lease, increasing the first-year payment.
Board member John sought clarification on line-item costs from supporting paperwork (noting $8,342 for forks and $22,001.45 for the loader attachment). Stacy explained those items are added to the $222,000 total, yielding an estimated first-year lease payment of approximately $50,000 and an annual lease payment increase on the order of $49,000; the board approved the amendment.
