Real Estate News: TWO Ways East Lincoln Fire Department Substation Could Help Homeowners

There’s good news and maybe some not-so-good news for hundreds of homeowners in the East Lincoln Fire District.   The good news is that the fire department will open a substation in a rented facility on Commerce Drive near SmithStone. Which will shorten the emergency response time in that area, and hopefully head off huge insurance rate hikes that homeowners faced beginning this fall. The fire department notified county officials recently that 352 homes did not fall within the five-mile distance requirement to receive a Class 5 insurance rating. That meant their rating could jump to a Class 9, resulting in increases between 30-70 percent, according to county manager George Wood.   The bad news is that the department has to get a loan from the county to pay expenses for the new substation for the remainder of the fiscal year, and will seek a district-wide tax increase next year to operate the substation. The department currently has tax revenues of $1.37 million, but would need an additional $75,000 beginning next year to cover the substation. That would mean taxpayers would see an increase in their tax rate from 6.8 cents per $100 valuation to 7.17 cents.   The county manager, George Wood, stated that none of the rules have changed, but “insurers are now being told by the state that they must write the policy based upon the actual travel distance requirement. That is what created this issue.” “We didn’t know this was coming until a week and a half ago,” said fire marshal Mike Futrell. “ELVFD has been looking to purchase land for its second station and this would correct the problem, but cannot happen fast enough to avoid these higher premiums,” Wood stated to commissioners. Wood’s recommendation for the loan and the new substation was approved by the board upon a motion made by Commissioner Carl Robinson Jr. of Denver.   Source: News@Norman