Fire Station Bond
This page has everything you need to know about the bond for a new fire station. We hope that you find it helpful. To view the Election Information Guide brochure, click here. To see how we got here, you can view the historical information at the bottom of the page. If you have any questions or comments, please contact us at participate@ketchumidaho.org.
Frequently Asked Questions:
Q: How much is the bond?
A: The bond is for $11.5M. The total cost of the bond will be $16.9M including interest and principal. The total cost breakdown is as follows:
- Construction & Site Work - $9,171,40
- Construction, Systems & Equipment - $7,704,568
- Site Work & Utilities Connections - $1,466,835
- Engineering, Design & Project Support - $1,184,025
- Architecture & Engineering - $904,115
- Construction Management - $169,910
- Bond Issuance - $110,000
- Permits, Fees & Allowances - $1,144,572
- Project Contingency - $829,572
- Permits & Fees - $180,000
- Unknown Conditions Allowance - $135,000
Q: Who pays?
A: Property owners in Ketchum pay for the bond via a temporary increase in taxes. The estimated tax impact is an additional $20.55 per year per $100K of property value (based on 25 year repayment at 3.15%). For a $400K property value, that's $82 annually, $6.84 monthly and $0.22 daily. For a $700K property value, that's $144 annually, $11.97 monthly and $0.39 daily. For a $1M property value, that's $205 annually, $17.10 monthly and $0.56 daily.
Q: What happens if the bond does not pass?
A: City Hall and Police will be moving to their new home in summer 2021. The firefighters will need a new location and may have to move to a temporary facility until financing is available.
Q: What happens if the bond passes?
A: If the bond passes in November 2019, then construction on the station will begin in May 2020 with a scheduled completion date in summer 2021.
Q: How was this site chosen?
A: A citizen committee surveyed 22 potential sites - including publicly and privately owned land. The proposed site was deemed the best available by the committee of community members and city staff due to its size, ideal location with direct access to Highway 75, Saddle Road and Warm Springs, and no cost to taxpayers.
