The Timberline Board of Directors (BOD) held a workshop on June 12 at Station 3, on Highway 119, to discuss various business matters. The BOD includes Rick Wenzel, President; John Bushey, Vice Chairman; and members-at-large John Carder, Mary Kate McKenna, and Kristin Turner.

Addressing new business, the Board discussed the Station 3 Bay Build. With the help of Congressman Joe Neguse, Timberline’s Station 3 received a federal grant of approximately $900,000 to build out the station, which was previously a distressed property and a scientific aeronomy laboratory.

The project will cost approximately $1.6 million, and the BOD is seeking additional financing to complete it.

Lance Holman of Holman Capital presented information on a potential lease-purchase for Station 3’s build, with Station 7 as collateral.

He presented the terms and conditions of a $700,000 loan over 20 years.

Carder suggested that if the BOD could pull $100,000 from their reserves and borrow $600,000 instead of $700,000, the district could save significantly. He proposed that the board could afford two $31,200 payments per year over 15 years instead of 20.

“Basically, $100,000 would save us $300,000,” said Wenzel, summarizing Carder’s proposition.

Holman advised against borrowing from the reserves and emphasized that Timberline can exit the loan anytime, with a prepayment penalty built into the financing.

Fire Chief Paul Ondr agreed that using the reserves was not wise because of potential revenue stream attacks.

Turner agreed with Ondr but liked the idea of saving money. Bushey expressed a preference for predictability and liquidity over saving $300,000. McKenna preferred having emergency funding over savings. Wenzel acknowledged that reducing the loan term and interest amount sounded good, but noted potential unknowns.

Carder proposed a compromise: not taking from the reserves, but reducing the term from 20 to 15 years, thereby raising the semiannual payments. Carder, McKenna, and Turner agreed on the matter. Ondr will present a resolution on this proposal at the next meeting, including two amortization scenarios.

The Board will decide whether to accept the proposal and under what terms at the June 18 meeting. The draft will be reviewed for any errors, and the BOD’s legal team will examine it. Holman stated that the BOD has until June 25 to finalize the agreement.

Moving to the Gilpin Ambulance Authority (GAA) lease renewal, Ondr presented the lease with GAA for Station 7 at 660 Highway 46 in Black Hawk. The rent for Gilpin Ambulance to use the space would be about $1,723 per month until the end of 2024. The lease includes 1,500 square feet of office space and 750 square feet of bay space, with all utilities except internet covered. Further negotiations may occur before the final lease is approved.

New employee Jen Lomeli recently took the Americorps-sponsored position at Timberline as Mitigation Coordinator. Ondr commended her work, noting her readiness to learn and her enthusiasm.

Lomeli expressed a desire to continue working with the department, and has been hired as the new Administrative Assistant, starting in about five months. Congratulations to Lomeli!

Hinderman noted that the draft budget includes a 5.5% increase in projected revenue, allowing for this position and other part-time mitigation positions.

Policy Discussions will be presented at the next regular meeting for a vote. These touch on open records, fee policy, project management, and grant writing.

The workshop concluded at about 4 p.m.

Timberline’s Board of Directors next regular meeting is scheduled for June 18 at 7 p.m. at Station 1, located at 5927 Magnolia Road, with an open house from 5 to 7 p.m. All are welcome.