The Gloucester County Board of Supervisors discussed financing proposals for the Gloucester Volunteer Fire & Rescue Station 1 during last Thursday night’s meeting held in the colonial courthouse. Davenport Public Finance distributed an RFP (Request For Proposal) for a direct bank loan for a maximum of $20 million with options for 20- or 25-year terms. The county received proposals from Atlantic Union Public Finance, Capital One Public Funding, Chesapeake Bank, Huntington Public Capital, and Webster Bank for the project. Davenport has recommended that the county move forward with a 20-year direct bank loan proposal with one year of interest-only structure. This would allow the county to have flexible prepayment provisions, such as having the option to refinance or restructure the loan in the future. It would also let the county lock in a long-term funding commitment with a fiscal year 2027 budget impact of less than the equivalent of a penny on the tax rate. “I like the pre-payment ...