Board of Estimate & Contract:
RESOLVED, that a resolution adopted by the City Council on December 11, 2024, and signed by the Mayor on December 12, 2024, authorizing the Mayor to Enter into a Financing Agreement with Lease Servicing Center, Inc. dba NCL Government Capital for the Purchase of Essential Department of Public Works (DPW) Fleet Equipment - (The agreement shall include the following terms:
0. Down Payment: $100,000 from ARPA Budget Code: DPW A8160.203ARP.
1. Closing Costs: $50,000 to be paid from ARPA Budget Code: DPW A8160.203ARP.
2. Financed Amount: The remaining balance of $3,045,325.05 will be financed through NCL under terms negotiated with the City Comptroller and approved by the City Council.
The total of $150,000, comprising the $100,000 down payment and $50,000 closing costs, shall be charged to ARPA Budget Code: DPW A8160.203ARP); be, and the same is hereby approved.
City Council:
AN ORDINANCE AUTHORIZING THE MAYOR TO
ENTER INTO A FINANCING AGREEMENT WITH
LEASE SERVICING CENTER, INC. DBA NCL
GOVERNMENT CAPITAL FOR THE PURCHASE OF
ESSENTIAL DEPARTMENT OF PUBLIC WORKS
(DPW) FLEET EQUIPMENT
Whereas, by letter dated November 11, 2024, the Deputy Commissioner of the Department of Public Works has requested legislation authorizing the Mayor of the City of Mount Vernon to enter into a financing agreement with NCL for the purchase of DPW fleet equipment for $3,195,325.05. The agreement shall include the terms listed below in Section 2; and
Whereas, the City of Mount Vernon's Department of Public Works (DPW) plays a critical role in maintaining city infrastructure, ensuring public safety, and providing essential municipal services; and
Whereas, a comprehensive fleet condition assessment report utilizing the American Public Works Association (APWA) replacement guidelines revealed that 62.8% of the current DPW fleet is classified as unsatisfactory, unsafe yet usable, virtually unusable, or decommissioned, and 66.1% of the...
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