Bond Details
The maximum bond amount is $17.3 million, funding both projects with an estimated total cost of $24.96 million, including $7.6 million in interest over 20 years. The annual taxpayer cost is $13.92 per $100,000 of assessed value, approximately $3 per month for a median home valued at $374,000.
August 15th, 2023
A survey educated the community on fire station statuses and services, gathering input on priorities and a potential bond to construct two new stations. With 527 responses, 74% supported the bond.
September 5th, 2023
The Caldwell mayor and city council approved a bond ordinance to rebuild and expand fire stations, allowing the bond to proceed to the ballot.
Bond Summary
The City of Caldwell Fire Department is comprised of five primary facilities. These facilities include three fire stations, fire administration, and the fire training facility.
Since 2010, the City has added over 23,000 residents, and has issued almost 700 business permits. Today, Caldwell is home to 70,000 residents.
Station 1, the City's oldest station, was constructed in 1966. It has been expanded three times to accommodate the increased number of firefighters needed to serve the area. The aging facility has infrastructure challenges, and space for apparatus equipment and employee vehicles is inadequate.
The City is evaluating the consolidation of Station 1, the fire administration offices, and the fire training into a single new facility. In addition to improving conditions to attract firefighters, the consolidation would free up existing City-owned assets for other public uses or revenue-generating development opportunities.
The City's newest fire station, Station 3, opened in 2021 to serve the airport and developing industrial area in East Caldwell.
The area surrounding Karcher Road/Lake Street has also experienced significant growth. Working with the City of Nampa and the Nampa Fire Protection District, the City of Caldwell is considering the construction of a new shared fire station (future Station 4) to serve this area. The City already owns land adequate to site a new station. Existing construction plans, already used for a new station in Nampa, would be available. Significant savings could be realized in land costs, plans, and joint purchase of apparatus equipment.
Fire Stations Bond Announcement
Video: Fire Stations Bond 2023
To maintain the level of fire and emergency medical services throughout the community, the City of Caldwell is proposing a $17.3 million bond to fund: (1) a rebuild and expansion of downtown Fire Station 1; and (2) construction of a new Fire Station 4, in the vicinity of Karcher Road and Lake Avenue, to be shared with the Nampa Fire Protection District.
Following results of a City-wide Fire Station Survey, Caldwell City Council approved a bond ordinance on September 5, 2023. The survey, released on June 2, served to gather input regarding prioritization of fire services as well as resident sentiments regarding a potential bond. A total of 527 responded to the survey, with more than 74 percent indicating they would support a bond measure.
The bond measure will appear on the November 7 ballot, allowing residents to determine whether to support a $17.3 million bond to fund a rebuild and expansion of Station 1 and a new Station 4. The measure requires a two-thirds majority approval from voters.
The proposed projects will reduce response times, provide quarters for full-time fire and emergency medical services personnel, improve fire and emergency medical services across the City, provide cost effective and long-term solutions, and contribute to an improved ISO rating.
The bond will provide the funding to deliver long-term solutions for fire and emergency medical services facilities at today's costs.
Station 1
The City's original Station 1 is 57-years old. While it has been expanded three times, the facility has infrastructure challenges preventing additional expansions. A new facility is in the long-term financial best interest of the City and taxpayers, rather than attempting additional short-term "band-aid" repairs that still fall short of providing an adequate facility to house the number of personnel needed to serve today's Station 1 service area.
Station 4
One of the most rapidly growing areas of Caldwell is the Karcher Road and Lake Avenue area. In addition to ensuring adequate fire and emergency medical services are available in this area, the need for a station in this area has been quantified by significant increases in call volumes.
Because the area is adjacent to the Nampa Fire Protection District service area which also identified a need for a new station, the concept of sharing a facility makes financial sense. In addition to efficiencies in facility and apparatus costs, Station 4 may reduce concurrency of calls, improving service and response times throughout the City.
Mayor Council Letter
Fire Stations Bond 2023
Pursuant to an ordinance adopted on September 5, 2023, by the City Council of the City of Caldwell, Canyon County, Idaho (the "City"), there will be a special municipal bond election held between the hours of 8:00 a.m. and 8:00 p.m. on November 7, 2023, in the City regarding the City's proposed issuance of general obligation bonds in an amount not to exceed $17,300,000 for the purpose of providing funds with which to prepare, construct, and furnish the City's portion of the construction of a new fire station, reconstruction of an existing fire station, and the renovation of certain existing fire training and administration facilities and all other related costs, items and appurtenances necessary, useful and convenient for the betterment of the City's fire facilities, as otherwise determined by the City, all collectively constituting the "Project."
The interest rate anticipated on the proposed bonds based on current market rates is 3.95% per annum. The total amount to be repaid over the life of the proposed bonds, principal, and interest, based on the anticipated interest rate, is estimated to be $24,960,000, consisting of $17,300,00 in principal and $7,660,000 in interest. The estimated average annual cost to the taxpayer of the proposed bonds is a tax of $13.92 per $100,000 of taxable assessed value, per year, based on current conditions. The proposed bonds will mature within twenty (20) years from the date of each series bonds. The total existing indebtedness of the City, including interest accrued as of November 7, 2023, is $0.
Additional Information