The Town of Duck is seeking proposals from interested lenders for two separate installment financing issues:
To purchase 1.53 acres of land in the village area of the Town of Duck. The seller has agreed to sell this land, consisting of three parcels, to the town for $2 million. This land provides the town the opportunity to provide additional parking in our busy village area and will afford us options for other public facilities.
Financing Need:
$2,000,000
15 years
Level Payment – Annual
No pre-payment penalty
To purchase and upfit two police patrol vehicles. The new vehicles are planned purchases following our Town Council approved Capital Improvement Plan (CIP). We plan to purchase, as they become available from the manufacturer, current model year Ford Police Interceptor Utility AWD vehicles to match our current fleet. The cost, with all equipment, is $62,380.75 per vehicle for a total cost of $124,761.50.
Financing Need:
$124,000
3 years
Level Payment – Annual
No pre-payment penalty
Please include any applicable fees and amortization schedules with your proposal.
Proposals must be received by Wednesday, October 9, 2024 at 5:00 p.m. Proposals which do not adhere to the requested terms or are received after the deadline will be considered non-responsive.
A recommendation for financing will be presented to the Duck Town Council for approval at their regularly scheduled meeting on Wednesday, October 16, 2024. The selected lender will be notified after approval has been granted. Per State law, we will be seeking Local Government Commission approval for the debt related to the land purchase and plan to be on the agenda for their December 2024 meeting.
All questions regarding this request for proposals should be directed to Drew Havens at 252-254-5950 or dhavens@townofduck.com
We thank you in advance for your time and consideration.