Posts Tagged Illinois State Fire Marshal’s fire truck and ambulance revolving loan program

Area fire departments receive loans for apparatus

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A total of 23 communities in Illinois will receive funding for new fire trucks, and 11 communities will get funds for new ambulances. Illinois State Fire Marshal Matt Perez and Illinois Finance Authority Executive Director Christopher Meister issued over $9.3 million in no interest or low interest loans to emergency responders across the state. The loans are made available through the Fire Truck Revolving Loan Program (FTRL) and Ambulance Revolving Loan Program (ARLP).

Under the FTRL program, fire departments and fire protection districts can apply for up to $350,000 in low interest or no interest loans for purchase of a fire truck or brush trucks. The loans have to be repaid within 20 years. Under the ARLP program, local governments and not-for-profit ambulance service providers can apply for no interest or low interest loans of up to $200,000. These loans must be paid back in 10 years.

Area recipients of the Fire Truck Revolving Loan:

• Evergreen Park Fire Department                           $350,000.00

• Harvard Fire Protection District                              $350,000.000

• North Park Fire Protection District                          $350,000.00

• Oak Forest Fire Department                                   $350,000.00

• Orland Fire Protection District                                $350,000.00

• Schiller Park Fire Department, Village of               $350,000.00

• Woodstock Fire/Rescue District                            $350,000.00

Area recipients of Ambulance Revolving Loan:

• Cortland Community Fire Protection District          $200,000.00

• Franklin Park Fire Department                               $157,991.00

• Joliet Fire Department                                            $200,000.00

• Limestone Township Fire Protection District          $200,000.00

• Nunda Rural Fire Protection District                       $200,000.00

• Palos Heights Fire Protection District                     $185,000.00

• Princeton Fire Department                                     $200,000.00

• Woodstock Fire/Rescue District                             $200,000.00

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Oak Forest Fire Department news

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The Oak Forest City Council voted 5-0 Tuesday to accept a loan of $350,000 from the Illinois State Fire Marshal’s fire truck and ambulance revolving loan program, which ultimately is overseen by the Illinois State Finance Authority.

The loan will provide the money to Oak Forest at a 1.89 percent interest rate, totaling just over $36,000, to be repaid during the next 10 years. Fire Chief Patrick Duffy said they were informed back in August 2018 the money was available, and were notified last month their application for the loan had been approved.

City officials had been stashing money aside so that they could purchase a new firetruck in about two years. But the loan will enable the city to make the purchase later this year and the fact that Oak Forest had been saving money to eventually make the purchase means the city is in a good position to finance this purchase.

The firetruck will replace their oldest piece of equipment, which the fire department has had in use since 1999. That truck is currently out-of-commission and undergoing repairs.

City officials have to vote again later this year to approve the actual purchase of the new fire vehicle.

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