Vernon Township secures funding for McCordsville fire station
VERNON TOWNSHIP, IN (Hancock County) – Vernon Township recently closed on bonds with a par amount of $7,120,000 for a new 24/7 fire station in McCordsville. The bonds closed on November 18, 2021.
S&P Global Ratings reaffirmed its ‘AA’ long-term rating to Vernon Township’s 2021 lease rental revenue bonds. The outlook is stable.
S&P viewed the township’s management as strong, with good financial policies and practices. The rating report also noted that the score reflects the township’s strong budgetary performance and very strong budgetary flexibility and liquidity.
Analysts commented that the township “made extensive considerations in developing its new budget” and also implemented multi-year fiscal and strategic plans to help guide township operations.
Since 2019, Vernon Township has had only one 24/7 fire station in Fortville, consisting of part-time and paid-per-run firefighters. Operations were limited to volunteer fire protection and emergency medical services in Fortville, McCordsville, and the unincorporated portion of Vernon Township.
“The process to build a new 24/7 fire station based in McCordsville, one of the fastest growing communities in Indiana, was started two years ago with the creation of the Fire Territory,” said Trustee Florence May. “The Township Board in partnership with the Town Councils of Fortville and McCordsville recognized the need to expand our services as the town has experienced a 45.9% growth rate in the past 10 years with an ever expanding list of new subdivisions and the exciting new Town Center development.”
With the formation of the Vernon Township Fire Protection Territory in 2020, additional tax revenue became available to sustain a career fire department. Now, it will usher in full-time firefighters for the first time in history; 2021 will be the funding transition year.
The bonds will provide funds to finance the purchasing of real estate and constructing and equipping the new station. Construction for the new fire station is expected to begin in June 2022, and it’s estimated that the project will be finished eight months after construction starts.
“The McCordsville Volunteer Firefighters have served the Vernon Township community for nearly 60 years, as well as the Fortville Volunteer Firefighters for 125 years,” Fire Chief Chad Abel said. “With the new station, we will be positioned to provide 24/7 coverage and improved response times to McCordsville. The location chosen is near one of our busiest areas and will greatly improve coverage capability and response times.”
The station will be located on 600 W and 900 N in McCordsville.