HomeMy WebLinkAboutR-2013-030 Authorized $90,473.01 to Purchase Builder's Risk Insurance for the Marina Improvement Project Construction from Public Risk Insurance Agency (PRIA) RESOLUTION NO. 2013-030
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING AND RATIFYING THE EXPENDITURE
OF $90,473.01 OF AVAILABLE APPROPRIATED FUNDS TO PURCHASE
BUILDER'S RISK INSURANCE FOR THE MARINA IMPROVEMENT
PROJECT CONSTRUCTION; PROVIDING FOR CONFLICTS; FURTHER,
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS,the City has approved a$7.5 million appropriation as well as a construction
bid award for rebuildingof the Ci 's Marina and the City desires to provide builder's risk
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insurance coverage; and
WHEREAS, builder's risk policy has been secured through the City's insurer, Public
Risk Insurance Agency (PRIA), which policy was developed in consultation with PRIA and the
assistance of Westrec Marinas,the Marina operator; and
WHEREAS, during the marina presentation to the Commission, builders risk insurance
was included for the project at an estimated cost of $75,000.00-$150,000.00 depending upon
certain levels of coverage and although the $7.5 million project appropriation and financing plan
was approved by the Commission, the explicit authority to purchase builder's risk insurance was
not; and
WHEREAS, the policy coverage commenced on January 7, 2013, in conjunction with
the Project's Notice to Proceed issued to the contractor and the $90,473.01 insurance premium
was due and was paid by the City on January 17, 2013; and
WHEREAS, City Administration recommends that the Commission authorize and ratify
the purchase of builder's risk insurance for the Marina Improvement Project from PRIA in an
amount of$90,473.01 using funds planned and appropriated in the Capital Project Fund - Marina
Improvement Project;
NOW,THEREFORE,BE IT RESOLVED BY.THE CITY COMMISSION OF THE
CITY OF DANIA BEACH,FLORIDA:
Section 1. That the above Whereas clauses are approved, ratified and incorporated as
a part of this Resolution.
Section 2. That the Commission approves and ratifies the Administration's purchase
and payment of builder's risk insurance from PRIA for the Marina Improvement Project in an
amount of$90,473.01 to be paid from the Capital Project Fund—Marina Improvement Project.
Section 3. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 4. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED and ADOPTED on February 26, 2013.
ATTEST:
LOUISE STILSON, CMC iLTER DUKE, III
CITY CLERK MAYOR
APM.S F"fir
APPROVED AS TO F RM CORRECTNESS:
THOAkS J. SBR
CITY ATT EY
2 RESOLUTION#2013-030
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