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Fire Station Construction We can help you find the financing necessary for station construction for your volunteer fire department. Given station construction is more expensive than simple remodeling or refurbishing, we usually find it necessary to involve your municipal authorities and the issuing of bonds for something on this scale. Although, there may be those projects where we can help your department obtain a low interest loan or lease agreement. However, we will work with you in finding supplemental forms of funding such as fund-raisers and grants. We encourage you to get a local architect to draw up the plans for such construction, who will make sure that all building codes and permits are secured. Station construction or remodeling is usually something where we can help you arrange the financing to get the materials and to hire a company to lead in the remodeling project. In this type of situation, if members from your volunteer fire department help with the labor, the costs for these projects is usually reasonable and we may be able to assist you with getting a low interest loan from your local band or other lending institutions. As an example of a loan guarantee program, here are some of the initial requirements for a 2% loan for facility construction or remodeling project in Pennsylvania: "FACILITY LOANS §113.101. LOAN AUTHORIZATION The Agency is authorized to make loans which will assist in establishing or modernizing facilities that house apparatus equipment, accessory equipment, communications equipment, and protective equipment.
§113.102. LOAN The loan for acquisition of land or construction of a new facility or renovation of an existing facility to any volunteer fire company, ambulance service, or rescue squad for a specified project shall not exceed 50% of the total cost of the facility or modernization or $200,000, whichever is less..13
§113.103. PROCEEDS OF LOAN (a) Proceeds of the loan may be used for land acquisition, or facility construction andmodernization as specifically described on the loan application and loan agreement. If the proceeds of the loan are to be used for land acquisition, approval will be granted only under the condition that construction begins within 6 months. (b) Proceeds of the loan may be used for the refinancing of debts incurred with a lendinginstitution or contracts entered into after November 4, 1975 and shall be used for the construction or modernization of facilities.
§113.104. PREREQUISITE MATERIALS TO FINAL SETTLEMENT As a prerequisite to final settlement, the volunteer company shall deliver the loan agreement, the promissory note and mortgage, with the real property description set forth in Exhibit A of the mortgage and such other security documents as may be required by the Agency, all having been duly authorized by the volunteer company, which when executed shall be the valid and legally binding obligations of the volunteer company enforceable in accordance with the respective terms of each.
§113.105. MORTGAGE (a) The mortgage shall be recorded by the volunteer company, at its own expense, in the office of the recorder of deeds in the county in which the land or facility is located. (b) Whenever a volunteer company has obtained a previous mortgage for land acquisition or construction or modernization of a facility, the Agency is authorized to provide an additional mortgage for land acquisition or construction or modernization of a facility. The Agency will insure that loan safeguards are initiated to protect the Commonwealth’s investment."For grant guidelines, See: § 152.4 Roles and responsibilities. See also: AFG 2005, 2006, 2007 Guidelines In Pennsylvania, also see PA Loans to Volunteers Program Similar assistance programs and laws exists for volunteer fire departments and EMS services in other states. For fire station construction which are funded by tax-exempt leases and low interest loans, we will do our funding processes for only a 1% fee and not require any up front money be paid as fees to us, when you shop with our preferred venders and advertising sponsors. As we find financing and funding for volunteer fire departments, we will refer our clients first to our sponsors first, because we know them and their levels of customer service. Our fees range from 3% - 5%, which are added to the price of the apparatus. This is still more economical than others who charge as much as a compounded rate of 9.75% for their fees and interest on the leases/loans.
So contact us at VFD-Funding today or fill out our convenient on-line feedback form, give us your wish list and tell us a little about your organization and then let's see what all we may be able to do for you and your volunteer fire department, rescue squad or EMS service. REMEMBER, there are NO up front costs or fees required. Last modified: March 21, 2007
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