HomeMy WebLinkAboutR-2014-036 - Authorized and Ratified the Expenditure of $10,034.61 to Extend Builder's Risk Insurance Coverage for the Marina Improvement Project Construction RESOLUTION NO. 2014-036
A RESOLUTION OF THE CITY COMMISSON OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING AND RATIFYING THE EXPENDITURE
OF $10,034.61 OF AVAILABLE APPROPRIATED FUNDS TO EXTEND
BUILDER'S RISK INSURANCE COVERAGE 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 rebuilding of the City's Marina, and the City desires to provide builder's risk
insurance coverage; and
WHEREAS, a 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 Marina, the Marina operator; and
WHEREAS, 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 City 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 a$90,473.01 insurance premium was
paid by the City on January 17, 2013; and
WHEREAS, the policy coverage was due to expire April 17, 2014 and the contractor's
expectation for substantial completion date is mid-May; the cost of $10,034.61 to extend the
builder's risk policy to June 1, 2014 was paid May 1, 2014; and
WHEREAS, City Administration recommends that the Commission authorize and ratify
the payment made to extend the builder's risk insurance for the Marina Improvement Project
from PRIA in an amount of $10,034.61 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
into this Resolution by this reference.
Section 2. That the City Commission approves and ratifies the Administration's
payment to extend the City's builder's risk insurance policy from PRIA for the Marina
Improvement Project construction in an amount of $10,034.61 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 May 13, 2014.
ATTEST: S FIRST 17
LOUISE STILSON, CMC ALTfER B. DUKE, III
CITY CLERK YOR
� f 1
APPROVED AS TO FO D CORRECTNESS:
THOMAS J. AMBRb
CITY ATTORNEY
2 RESOLUTION#2014-036