Minutes 04/22/2008 - Laserfiche WebLink

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April 22. 2008 Background: . On September 9, 2007, a fire damaged the gym and a classroom at Hunt-Mapp Middle School. The property was insured by St. Paul Travelers, policy number KTK- CMB-545D884-0-07 under the City's Risk Management program. Discussion: . The settlement figures have been reviewed and approved by the Departments of General Services, and Engineering and by McPherson Design Group P.C., Structural Engineers. . The Actual Cash Value (ACV) of $2,391,732 minus the $100,000 deductible leaves a net ACV $2,291,732. . After the deductions of $291,732.09 for Prepaid expenses and $500,000 for closing off the remaining school building's opening, $1,500,000 will remain available for other purposes. . The Capital Improvement Budget (CIP) will fund the demolition of Hunt-Mapp Middle School using proceeds from the sale of certain land by Economic Development. Financial Impact: . $1,500,000 to be transferred to the General Fund Operating Balance to offset budget shortfall. Staff Recommends: Adoption of ordinance. Vision Principle: Bold New Directions. Next Steps Following Council Action: . The City Manager will have the authority to accept the Insurance Settlement on behalf of the City. Motion by Ms. Psimas, and seconded by Mr. R. Smith, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE ACCEPTING AN INSURANCE SETTLEMENT IN THE AMOUNT OF $2,291,732 FROM ST. PAULS TRAVELERS FOR PROPERTY DAMAGE SUSTAINED IN A 2007 HUNT-MAPP MIDDLE SCHOOL FIRE, APPROPRIATING SAID SUM IN THE FY 2007-2008 RISK MANAGEMENT FUND." Ayes: Heretick, Moody, Psi mas, Randall, D. Smith, R. Smith, Holley Nays: None 08 - 214 - Adoption of resolution authorizing the City Manager to release certain City water and sanitary sewer easements located in the Victory Village section to the Economic Development Authority of the City of Portsmouth, Virginia. Vision Principle: Bold New Directions. Background: . Development of the property bounded by McLean Street, Greenwood Drive, Victory Boulevard and Cavalier Boulevard is in its beginning stages. . This property is designated as Tax Parcels 05240017, 05250018 and 05240030. Discussion: . The development of this site requires that easements which adversely impact developers' properties be released so as to provide them with unencumbered title. . There is an easement for water and sewer lines located within the area which is described herein. This easement was granted to the City of Portsmouth in 1958. Financial Impact: . None