Financial Breakdown

The City of Sanford has a strong history of responsible financial management, avoiding overuse of bonding, and this approach will continue to guide us through this project. There will be a five-year “bump” in property taxes from 2026-2031. With a $2.6 million cost escalation and pending OSHA requirements, waiting isn't feasible. Proceeding with construction now helps ensure compliance and mitigates larger future costs.

New Fire Station Cost

The construction of two new fire stations will cost the community $42.5 million in total, if approved in November 2024. If the project is not approved, the cost increases by $2.6 million each year. The City's goal is to align construction with the retirement of current debt service to minimize the impact of introducing new debt service.

Competition for Grant Funding

Various grant opportunities exist, including those from FEMA, Congressional Direct Spending, and others, but they can only be pursued after we have a voter-approved project. Due to pending federal safety requirements for fire departments, stations nationwide will require upgrades. This increased competition for funding will decrease Sanford’s chances of securing federal grants if the project is not approved by voters this year.

Full Cost in 2024- $42.5 Million

• Initial Tax Increase: Peaks at $2.16 per $1,000 of assessed value in 2028, declining to approximately $0.09 by 2058.
• Impact on Home Valued at $300,000:
  • Peak net taxation increase in 2027: $248.05
  • Declining to $8.27 by 2058
• *Average Annual Impact: $231.19 ($4.44 per week)

Full Cost in 2030- $55 Million (plus $1 million to stay in current stations)

• Initial Tax Increase: Peaks at $2.13 per $1,000 of assessed value in 2031, declining to approximately $0.27 by 2061.
• Impact on Home Valued at $300,000:
  • Peak net taxation increase in 2032: $438.24
  • Declining to $73.33 by 2061
• *Average Annual Impact: $276.95 ($5.32 per week)
• Additional Cost for Delay to $300k Home: 34.32%

Note: The 5-year delay costs are included in response to resident inquiries about the potential impact. In addition to $13 million in project escalation costs, maintaining the current stations will require at least $1 million in renovations to keep the fire department operational until the new stations are built.