Money From Prescott Fire Station Sale May Help Pay Pension Liability

Published: Monday, August 7, 2017 - 12:49pm
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Stina Sieg/KJZZ
A makeshift memorial at Fire Station 7 in 2013 dedicated to the 19 Arizona firefighters who died in the Yarnell Hill Fire.

The Prescott City Council will vote Tuesday on whether to use the money from the sale of Fire Station 7 to help pay its $78.4 million unfunded liability to the Public Safety Personnel Retirement System.

Fire Station 7 housed the 19 Granite Mountain Hotshots who died in the 2013 Yarnell Hill Fire. In July, Prescott agreed to sell it for $362,500.

If the City Council signs off, half of the money from sale would go toward police pensions, and the other half would go to firefighter pensions.

The vote comes weeks before Prescott residents head to the polls to decide whether to increase the city’s sales tax by 0.75 percent.

If the measure passes, the revenue would also be used to pay off Prescott’s liability to the Public Safety Personnel Retirement System.

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