Over the course of three public meetings, Lompoc City Council members have questioned aspects of a proposed new 23,373-square-foot, $14-million fire station to be built on land at the Lompoc Airport to replace aging Fire Station No. 2.
Since the proposed station was rejected by a 3-2 vote in December, public discussions have involved numbers for call volumes, types of service calls, call response times and whether the city should purchase the land where the station will be built rather than commit to a perpetual lease with the Lompoc Airport.
But new financial data released late last week is expected to focus Tuesday night's council discussion on a different set of numbers -- the amount of cash in the city's operating reserves.
The data released by staff shows that paying for the proposed new fire station -- at a total cost of $29.8 million over a 30-year period -- will deplete city general fund reserves for a period of six years, from 2020 through 2025, according to Dean Albro, the city's accounting revenue manager.
To balance the budget in those years, the city anticipates it will need to dip into a $2 million Economic Uncertainty Fund, a permanent cash reserve created in 1994 to be used for "the continued operations of the city when severe economic conditions deem it necessary."
For three years, 2022 through 2024, staff projects the city will have less than $500,000 in cash reserves if the proposed project is approved, Albro confirmed.
The dip into general fund reserves to balance the city budget is largely due to factors unrelated to the construction of new fire station.