Tiburon Fire Protection District Receives $4.3MM Loan for New Station

California Infrastructure and Economic Development Bank, IBank, Tiburon Fire Protection District, Tiburon, Belvedere, Tiburon Peninsula, San Francisco, Bay Area, Angel Island State Park
Courtesy of Tiburon Fire Protection District

SACRAMENTO (December 29, 2022) — The California Infrastructure and Economic Development Bank (IBank) board of directors approved $4.3 million in loan financing to the Tiburon Fire Protection District for a project that will allow firefighters to better protect the lives and property of Californians, as well as the environment.

The board approved the $4.3 million Infrastructure State Revolving Fund loan for the construction of a new 5,455 square-foot, two-story fire station building at the location of the existing Station 10 building in the town of Tiburon. Constructed in 1960, Station 10 has reached the end of its useful life, and is set to be demolished.

The new station will be able to provide accommodations for additional personnel, contain larger living quarters for a diverse workforce, and will have room for a modern fire truck. In addition, the new station will include site improvements to traffic safety surrounding the location.

“From public safety to clean water to safe roads, IBank’s infrastructure loans make it possible for small- to mid-size municipalities to serve the basic needs of people in their communities,” said IBank Executive Director Scott Wu. “Our team is proud to help Tiburon Fire Protection District replace their old building with a state-of-the-art station to protect local families and their property.” 

The fire district’s service area encompasses approximately 5.5 square miles, serving a population of just over 11,000 in the town of Tiburon, the City of Belvedere, unincorporated residential and wildland areas on the Tiburon Peninsula and parts of the San Francisco Bay, and Angel Island State Park.

The fire district plans to initiate the construction bidding process soon, with the goal of breaking ground on the project in spring 2023. The new station will create two new firefighter positions, retain 29 existing jobs, and create eight to ten construction jobs. It is expected to take about three years to complete.

About IBank

IBank was created in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy, and improve the quality of life for Californians and communities throughout the state. IBank is located within the Governor’s Office of Business and Economic Development and is governed by a five-member board of directors.

IBank issues tax-exempt and taxable revenue bonds, provides financing to public agencies, provides credit enhancements, acquires and leases facilities, leverages state and federal funds, and provides loan guarantees and other credit enhancements for small businesses.

West Coast Commercial Real Estate News