Council to consider spending nearly $1M on loaders

COEUR d'ALENE — The Coeur d'Alene City Council tonight will consider a proposal to spend nearly $1 million on new front end loaders.

The proposed governmental equipment lease-purchase agreement with Caterpillar Financial Services Corporation is for four 2023 small wheel loaders from Western States Equipment Company for the streets and engineering and water departments. 

Each loader costs $240,810, with each annual payment being $26,202, according to a city report. Interest accrues at the rate of 6.39% annually. If the city wants to purchase the equipment at the end of five years, a payment of $170,000 per unit would be required.

"Front end loaders such as these are a versatile component of the Streets & Engineering Department’s year-round maintenance program,"  the report said. "From street repairs to winter snow removal, this equipment performs a vital service to the city."

Three of the new loaders will go to streets and engineering and one will go to the water department. 

The City Council previously approved a financial plan that includes authority to acquire the new equipment to replace aging loaders, "which are requiring more and more maintenance," the report said.

Because both the new and existing loaders are manufactured by CAT, the blades and gates from the existing loaders can be salvaged for use on the new loaders, saving about $100,000.

The council is also expected to approve setting a pair of public hearings.

The first, Nov. 21, will be on approving a 10-year capital improvement plans for parks, transportation, police and fire in support of updating the development impact fees. 

The second, Dec. 5,  is on adoption of amendments to Coeur d’Alene Municipal Code Title 14, which is the development impact fee, and the setting of development impact fees and annexation fees for the city of Coeur d’Alene "to fund growth’s share of these plans."

The City Council is scheduled to meet today at 6 p.m. in the Coeur d'Alene Public Library Community.