Poudre Valley Rural Electric Association recently completed the loan process for a $1 million loan to the Platte Valley Fire Protection District for two new apparatus. PVREA was able to secure a grant through the U.S. Department of Agriculture Rural Economic Development and Loan Fund Program that loans a 0 percent interest loan for an economic development project.
The PVREA Board of Directors decided to grant this 10-year loan to Platte Valley Fire Protection District, which will be repaid over 10 years. The fire station used this loan to purchase two new fire trucks that will enable them to better serve the community.
“We really believe in economic development and using our resources to help our local businesses. This loan enabled the fire district to purchase the fire trucks they needed to serve the community,” said PVREA Board President Jack Schneider.
PVREA board members attended the Platte Valley Fire Protection District’s “push-in” ceremony on Nov. 3, an evening that celebrated the two new additions to their fleet. The directors along with members of the community watched as the fire crew pulled out their old fire trucks and pushed the new fire trucks into the station.
“Watching the fire crew push their new trucks into the shop really solidified in action what we’re attempting to do beyond providing power. As a board, we not only represent the membership but also make sure our co-op is helping foster our communities, improving the lives of those we serve,” PVREA board member Georgi Diehl noted.
Over the course of 10 years, funds from the loan payments from Platte Valley Fire Protection District will be allocated toward a Revolving Loan Fund, allowing for future economic development projects.