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Committee backs resolution to seek up to $215,000 gap loan for Oneida‑Vilas Transit bus purchase
Summary
The Executive Committee voted unanimously to forward a resolution asking the County Board to create a short-term gap loan (not to exceed $215,000) to the Oneida‑Vilas Transit Commission so it can secure an 80/20 DOT grant and purchase two buses. The funding is intended as a cash‑flow bridge until reimbursement.
The Oneida County Executive Committee voted July 29 to forward a resolution to the County Board asking it to create a gap loan not to exceed $215,000 to the Oneida‑Vilas Transit Commission to finance two new buses.
Barb Newman, Oneida‑Vilas Transit Manager, told the Committee the agency received a Department of Transportation grant to buy two buses totaling $296,000 and that the grant is structured as an 80/20 award. Newman said the 80% portion must be paid up front and is reimbursable; she requested a short-term loan of about $213,000 so the buses can be ordered and delivered. Chairman Billy Fried proposed a gap loan of up to $215,000 to match prior county practice for short-term financing.
Committee members discussed past county gap loans for other departments and agreed the County has precedent for short-term cash‑flow support. The motion to support the resolution was moved by Fried, seconded by Scott Holewinski, and passed unanimously. The resolution will be transmitted to the County Board for final approval and to set loan terms, including the interest rate consistent with prior internal loans.
