Windsor to fund fleet expansion with $500k loan

By CHRIS FROST
Eagle Times News Editor
WINDSOR, VT — The Select Board approved a loan for vehicles during its Tuesday, Nov. 28, meeting.

The town will receive a Freightliner truck, police cruiser and two ambulances that will join the ambulance they recently purchased.

Board Member Ryan Palmer made the motion, which Board Member Tera Howard seconded.

The $528,350 loan has a 7.5 percent interest rate for five years and is offered through Mascoma Bank.

Town Manager Tom Marsh said it’s regular business for the Town of Windsor to purchase vehicles listed in the Capital Plan during the prior year.

“As there were lingering effects of COVID, some vehicles were delayed,” said Marsh. “We’re seeing a lot of vehicles come in, and we’ll continue to have that over the few months ahead. We have to pay in the neighborhood of $1,000 for a legal opinion every time we go and get a loan.”

Banks require proof that the loans were approved by taxpayers through the budget process.

“It’s just a matter of our finance people getting the capital plan, minutes, and all that kind of stuff,” Marsh said. “We’re sending it off to the attorney; the attorney writes the letter. I can’t tell you why it’s costing $1,000, but it does, so instead of doing this four times, we’re going to get one loan and pay for it once.”

He expects the vehicles to be delivered by February.

“It’s $195,000 for an ambulance we’ve already received, and we just paid for out of the general fund,” Marsh said. “It’s $90,000 for two additional ambulances, and the total cost is about $200,000.”

He said $110,000 is funded through a Municipal Loan Fund offered through the state.

“Municipalities are eligible for up to $110,000 a year; we applied for that and got it, and that’s at 2 percent, so that’s good,” Marsh said. “There is $66,000 for a police cruiser, and all the accouterments that go with it, and $177,000 is for a Freightliner truck that’s on order.”