1. #1
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    Default ILLinois Revolving Fire Truck Loan

    This was pointed out to me by some of the ILL members of the forum, I did some research, and I think I realy like the concept.

    I brought it up at a fire aliance meeting I atended last night, and they all liked it as well.

    So, what I am looking for is more info on this program.

    IIRC, today, April 15, 2004 is the final day to apply. I am curious as to waht the ILL departments are applying for.

    What is your thoughts on this program?

    What was the house bill number on this? I would like to find a copy of it to pass along around my neck of the woods.

    Is 10 milion enough for ILL? It doesnt seem like ver much.

    How many departments in ILL?

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    Here is what I know on the loan program. The Illinois State Fire Marshall's Office is the source of this loan. They are offering up to $250,000.00 towards fire fighting vehicles. They can be used or new, it is a 0 interst loan, over 20 years. Alot of departments passed on this since there are some rules. You can go to the Illinois Fire Marshall web site for the apps ( I am not sure if they took them off since the deadline is over). They only had 18 apps the first go around, so they moved the deadline back to today(Tax day).
    You do not have to take the full 250, use what you need. Also it can go towards a truck. If the truck is $300,000.00, they give you the $250,000 and you come up with the other $50,000. There are alot of good things about this, but each dept that gets it, has to pay back the money. But I am still out on the idea, I guess we will see when the dept. pay the money how they felt.

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    In addition to those URLs that weruj1 posted, you can go to www.msfa.org and look at Maryland's program. Md has a loan for 2% for apparatus and buildings, and it is working well.
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    Samson:
    I was on the rulesmaking committee for this program. Naturally, it is designed to help fire departments purchase fire trucks, but can be used for pumpers, tankers, rescues; just about any large ticket items except brush trucks. Fire trucks have the priority, of course. The maximum is $250,000. On new, the goal is to get 20 years of life, so the maximum repayment is 20 years on new. On used equipment, the life expectancy of the unit will be factored into the repayment plan. You must have 2 plans for repayment. You must submit 2 years of financial statements. You must have participated in NFIRS reporting for at least the last 2 years. The application is reviewed by the loan review committee. The loans are being administered through the Illinois Rural Bond Bank. As of March 15th, the original deadline, there were actually over 150 applications! The "18" number comes from the number received with one week to go before March 15th. I have heard that over 200 applications were received.
    To answer your question "is 10 million enough for Illinois?"; the answer is "NO". But with our state as cash strapped as it is, to get "seed money" for this program is a testament to the hard work that State Rep Don Moffitt does on behalf of our state fire service. Mike Smith is another major force.
    Harve; we looked at Maryland's program while we were writing ours. That's why they are "cousins"!
    Samson; PM me. I might be able to send you everything that you are asking for, but through snail mail. You could benefit from the work that is already done.
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  6. #6
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    ChiefReason
    Is your man for answers for sure......as far as what ILL Departments are asking for.....for our application it is for 1 full new tanker......and 2 rolling chassis.......and a used engine to replace our 1965 Crown fire coach that is a spare....we have 6 stations so we cover alot of area and need a reliable spare since taking a engine out of service can put a great area of people in danger with the other engines being further away......I think the program is great.......BUT some departments just do not have the funds to pay it back....they are hurting just as the state of Illinois is......we are just grateful that our board knows a great deal when they see it.....now we are praying for approval.....we had ours in for the first dadline and have been told those get the first look see.......guess we will see


    2160

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    Don Moffit is a good guy. i dont personally know him, but from what i understand he was like single handedly responsible for getting our dept our first Thermal Imaging Camera. we got the 0% loan for our last truck and it is already almost paid off and its been like 2 years.
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