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Kincaid committee discusses buying jet rodder, street sweeper amid financing questions
Summary
Trustees discussed purchasing a used jet rodder and street sweeper priced at $220,500 against $200,000 in appropriations, with potential EPA reimbursements and a proposed bank loan to fill any gap. No purchase vote was taken.
Trustee Nelson led the committee discussion about acquiring a jet rodder and a street sweeper the Village is considering buying used. Nelson said Foreman Wolfe had requested appropriations of $200,000 for equipment and that the seller asked $220,500, but "they said they can work with that." The trustees discussed expected trade-in or sale value for current equipment—roughly $15,000 to $30,000—and noted outstanding reimbursement checks from Chastain that could reduce the borrowing need.
Treasurer Merano said the Village planned to delay final action until after Jan. 2 to await an "EPA check that will reimburse the water fund," and that "thirty-five percent of the amount can come out of water." The committee discussed a potential five-year bank loan at about 8% interest as a fallback if reimbursements are delayed, and Nelson said staff would try to negotiate better loan terms and send Public Works staff to inspect the used machines before committing.
The committee emphasized practical next steps rather than committing to immediate purchase: arranging inspections by Tommy and Dallas, clarifying the true reimbursement amount from Chastain, and determining trade-in proceeds. No formal motion or vote to purchase or to borrow funds was recorded at this meeting.
