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Page 2 of 3 <br />2007 Fire Ladder Truck Purchase September 25, 2007 <br />benefits of a coordinated purchase between the City of San Leandro and the Fire Department <br />outweigh any benefit of going through a separate formal bid to purchase the unit designated for <br />City of San Leandro. <br />Financing Plan <br />Staff considered several options that were available for purchase such as 100% prepayment, 50% <br />down, lease purchase, etc. Recently, the City has built up its capital replacement reserves and <br />recommends prepayment of the new ladder vehicle. Pre-payment of the fire apparatus allows the <br />City to receive a Pierce discount of $46,515 from the base price of $806,252. The prepayment <br />discount is advantageous since the return on investment from investing the base price into the <br />City's investment portfolio is projected to be lesser than the discount. <br />The additional cost of equipping the new fire truck is estimated at $186,063 and will be ordered <br />and fitted following arrival of the apparatus. <br />Staff recommends Council approve purchasing this fire truck without competitive bidding, and <br />doing so in coordination with the Alameda County Fire Department. <br />Current City Council Policy <br />Not Applicable <br />Previous City Council Action(s) <br />June 18, 2007 adoption of the FY 2006-07 Budget <br />City Council Committee Review and Action <br />September 25, 2007 Finance Committee reviewed and recommended to forward to City Council <br />for approval. <br />Applicable General Plan Policy <br />Not Applicable <br />Permits and/or Variances Granted <br />Not Applicable <br />Environmental Review <br />Not Applicable <br />Code Compliance Review <br />Not Applicable <br />Board/Commission Findings <br />Not Applicable <br />Summary of Public Outreach Efforts <br />Not Applicable <br />Fiscal Impact <br />Total cost of the ladder truck is $838,235 plus equipment estimated at $186,063. <br />