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MESSAGE FROM THE PRESIDENT
BUILDING FOR THE CO-OP’S
FUTURE
Firelands Electric moves forward with new all-in-one facility As mentioned in a previous issue of Ohio Cooperative Living magazine, Firelands Electric Co-op’s Board of Trustees has undertaken a new building project to replace the present office building, which has major structural damage that would be very costly to repair. Over the past two years, your cooperative’s board and management have been exercising due diligence, researching costs to maintain and repair our current three facilities versus building a new structure that would incorporate the office and warehouses all under one roof. After an extensive assessment of our current facilities (age of buildings, land-locked, located in a floodplain, future repair and maintenance costs, etc.) and the financial implications, including current low interest rates, Firelands Electric’s board made the decision in July to move forward with a new building and purchased 15 acres of property in July. Firelands Electric’s new facility will be located less than a mile west of its existing office, and will still remain within the Village of New London. Having the cooperative’s facilities under one roof will offer improved communications and operating efficiencies of our workforce. Building a new facility will also provide a long-lasting structure to serve the co-op for many years in the future. Late last year, I appointed a building committee that includes District 5 Trustee Carl Ayers, District 1 Trustee Dan Schloemer, General Manager April Bordas, Director of Member Services Andrea Gravenhorst, Line Superintendent Don Englet, and myself. The cooperative’s board also hired a consultant to assist management with analyzing
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proposals and to oversee the project on behalf of the cooperative. In January, the cooperative’s board hired the design-build firm Janotta & Herner from Monroeville to design a new facility for Firelands Electric. Necessary soil testing was completed in late February, and the cooperative’s building committee finalized the design phase in June.
Dan McNaull Board President
In order to provide the cooperative’s board and management with accurate cost estimates, Janotta & Herner has completed the design phase and sent the project out for bid to local suppliers and contractors and is in the process of providing a not-to-exceed price for the project. Firelands Electric’s board and management has thoroughly researched financing options. The co-op is looking to finance the project through RUS, which will save the cooperative an estimated $800,000 in interest over the life of the loan. A short-term (bridge) loan through CFC will be used during the construction phase of the project. Your board of trustees and management will continue to implement due diligence on this project and will do our best to keep members informed. Please stay tuned for details.
SEPTEMBER 2017 • OHIO COOPERATIVE LIVING
20A
8/17/2017 8:31:57 AM