Item C14
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: 2/16/00 & 2/17/00
Bulk Item: Yes l No
Division: Management Services
Department: Human Resources/Risk Management
AGENDA ITEM WORDING: Approval to purchase Flood and Windstorm Insurance for the East
Martello Tower.
ITEM BACKGROUND: This is to secure additional funds from FEMA for damages suffered from
Hurricane George's. Part of these ~es have been recovered. however. an additional amount of
$65.911.50 will be released once we show coverage in olace for this structure. The total damage estimate
was for $87.882.00. Once FEMA releases their funds. the State will contribute 12.5%. or
$1O.985.25.Monroe County will make uo the final difference of 12.5%. or $10,985.25. The County's
Total outlav of $26.621.25 will net the County $61.260.75 from FEMA and the State. These coverage's
will be reviewed each vear to determine their need.
PREVIOUS RELEVANT BOcC ACTION: None
STAFF RECOMMENDATION: BOCC approval
TOTAL COST: $15.636.00
COST TO COUNTY: $15.636.00
REVENUE PRODUCING: Yes
BUDGETED: Yes
No X
No X AMOUNT PER MONTH
YEAR
APPROVED BY: County Atty _ OMB/Purchasing _ Risk Management J_
DIVISION DIRECTORAPPROVA~!6-- ~ ~ 0 <l S.
James L. Roberts
DOCUMENTATION: Included: l
To Follow: _ Not Required: _
DISPOSITION:
Agenda Item # liltJ
THE PORTER-ALLEN COMPANY
i I I' '11:.
SINCE 1891
513 SOUTHARD STREET
KEY WEST, FLORIDA 33040
(305) 294-2542 . (800) 292-2542
FAX (305) 296-7985
MONROE COUNTY RISK MANAGEMENT
WAYNE ROBERTSON, INSURANCE
COORDINATOR & DIRECTOR OF
RISK MANAGEMENT
5100 COLLEGE ROAD
KEY WEST FL 33049
RE: EAST MARTELLO TOWERS
WINDSTORM & FLOOD INSURANCE PROPOSAL
DEAR WAYNE:
AITER REVIEWING THE APPRAISAL, SENDING PHOTOS & APPRAISAL TO FLORIDA
WINDSTORM UNDERWRITING ASSOCIATION, AND DISCUSSING THE "BATTERY' AND
"CITADEL" WITH DIFFERENT UNDERWRITERS, THE PORTER ALLEN COMPANY OFFERS THE
FOLLOWING PROPOSAL.
WINDSTORM
$1,000,000. "BATTERY' BUILDING (NO CONTENTS)
DEDUCTIBLE 3% $6,136.00 ESTIMATED ANNUAL PREMIUM
DEDUCTIBLE 5% $5,707.00 ESTIMATED ANNUAL PREMIUM
$ 728,800. "CITADEL" BUILDING (NO CONTENTS)
$ 10,000. "CUPOLA"
DEDUCTIBLE APPLIES TO EACH ITEM:
DEDUCTIBLE 3% $2,009.00 ESTIMATED ANNUAL PREMIUM
DEDUCTIBLE 5% $J,S83.00 ESTIMATED ANNUAL PREMIUM
NOTE: THE "CUPOLA" MUST BE INSURED AS A SEPARATE ITEM BECA USE IT
IS OPEN SIDED AND REQUIRES A HIGHER WINDSTORM RA TE. WE
ARBITRARILY USED S10, 000. FOR THE "CUPOLA" STRUCTURAL VALUATION.
DUE TO THE LOW VALUE OF THE "CUPOLA" THE DEDUCTIBLE IS A
SEPARATE DEDUCTIBLE F $1.000 NOT THE PERCENTAGE OF 3% OR 5%..
FLOOD
$500,000 "BATTERY' BUILDING (NO CONTENTS)
ANNUAL PREMIUM RANGES FROM $4,936. TO $4,023. DEPENDING ON THE
DEDUCTIBLE YOU SELECT. (SEE ATTACHED)
$500,000 "CITADEL" BUILDING (NO CONTENTS)
ANNUAL PREMIUM RANGES FROM $4,936. TO $4,023. DEPENDING ON THE
DEDUCTIBLE YOU SELECT. (SEE A IT ACHED)
NOTE: BOTH BUILDINGS WERE QUOTED ON THE BASIS OF THE MAXIMUM
AMOUNT OF COMMERCIAL BUILT 71/G INSURANCE A VAILABLE UNDER THE
NATIONAL FLOOD INSURANCE PROGRAM. ALSO. BOTH BUILDINGS WERE
RATED BASED ON BEING LOCATED IN A "V" ZONE. NO EXCESS FLOOD IS
AVAILABLE IN OUR COUNTY FOR THESE STRUCTURES DUE TO THE AGE OF
THE STRUCTURESAND THEIR LOCATION IN A "V" ZONE.
IF YOU HAVE ANY QUESTIONS, REGARDING TIllS PROPOSAL. PLEASE CONTACT ME.
THANK YOU VERY MUCH FOR TIllNKING OF THE PORTER ALLEN COMPANY.
.........~--.
Bankers Insurance Company
Bankers Insurance Group
P.O. Box 33003
St. Petersburg FL 33733-8011
(800)627-0000
Fax (800)850-3299
F L 0 0 D W R I T E R
005000-0
Standard Flood Insurance Policy Quote
-0087137
THE PORTER ALLEN COMPANY, INC
513 SOUTHARD STREET
KEY WEST, FL 33040-
(305)294-2542
Community Number
Program Type
Flood Zone
Date
01/24/2000
03/01/2000
Effective Date
Insured: MARTELLO TOWERS CASEMENT BATTERY
COMMUNITY INFORMATION
120168-H KEY WEST, CITY OF
REGULAR
V
BUILDING INFORMATION
Property State Abbrev.
Construction Date
Condominium Coverage
Occupancy Type
Building Type
Elevation Certificate
Basement or Enclosure
Finished/Unfinished
Building Elevated
Obstructions
Location of Contents
Bldg Replacement Cost
Building
Contents
DEDUCTIBLES
BUILDING CONTENTS
500
1,000
2,000
3,000
4,000
5,000
FL
01/01/1862Pre-FIRM Construction
NONE
NON-RESIDENTIAL
ONE FLOOR
NO
NONE
NONE
NO
NONE
NONE
1,289,600
$
$
Coverage
500,000
o
Rates
Basic /
0.95 /
0.00 /
Per $100
Additional
0.90
0.00
DISCOUNT
-5.0%
0.0%
5.0%
9.0%
12.0%
15.0%
PREMIUM
1-YEAR
$ 4,936
4,708
4,480
4,297
4,160
4,023
** NOTES **
** Policy includes increased cost of compliance (ICC) coverage.
THIS IS NOT AN OFFER FOR INSURANCE AND
THIS QUOTE IS SUBJECT TO CHANGE OR VERIFICATION BY THE COMPANY
FloodWriter{c): 3.0 File #:0963130238
Bankers Insurance Company
Bankers Insurance Group
P.O. Box 33003
St. Petersburg FL 33733-8011
(800)627-0000
Fax (800)850-3299
F L 0 0 D W R I T E R
005000-0
Standard Flood Insurance Policy Quote
-0087137
THE PORTER ALLEN COMPANY, INC
513 SOUTHARD STREET
KEY WEST, FL 33040-
(305)294-2542
Community Number
Program Type
Flood Zone
Date
01/24/2000
03/01/2000
Effective Date
Insured: MARTELLO TOWERS CITADEL
COMMUNITY INFORMATION
120168-H KEY WEST, CITY OF
REGULAR
V
BUILDING INFORMATION
Property State Abbrev.
Construction Date
Condominium Coverage
Occupancy Type
Building Type
Elevation Certificate
Basement or Enclosure
Finished/Unfinished
Building Elevated
Obstructions
Location of Contents
Bldg Replacement Cost
Building
Contents
DEDUCTIBLES
BUILDING CONTENTS
500
1,000
2,000
3,000
4,000
5,000
FL
01/01/1862Pre-FIRM Construction
NONE
NON-RESIDENTIAL
THREE OR MORE FLOORS
NO
NONE
NONE
NO
NONE
NONE
738,800
$
$
Coverage
500,000
o
Rates
Basic /
0.95 /
0.00 /
Per $100
Additional
0.90
0.00
DISCOUNT
-5.0%
0.0%
5.0%
9.0%
12.0%
15.0%
PREMIUM
1-YEAR
$ 4,936
4,708
4,480
4,297
4,160
4,023
** NOTES **
** Policy includes increased cost of compliance (ICC) coverage.
THIS IS NOT AN OFFER FOR INSURANCE AND
THIS QUOTE IS SUBJECT TO CHANGE OR VERIFICATION BY THE COMPANY
FloodWriter(c): 3.0 File #:0841130309
FEDERAL EMERGENCY MANAGEMENT AGENCY.
DISASTER RESPONSE AND RECOVERY
INSURANCE COMMITMENT
(Supplement to Project Application) '.
. .
APPLICANT
Type of Major Disaster
Name Project Application No.
Address DSR Item No.
CitY County Date of Inspection
State Zip Federal Inspector
Telephone No. , Federai Agency
Location of Damaged Property
.
Description of Damage
.
. .- .
\.
Estimated Cost of Eligible Work
Appraised Value of PropertY S I
Ufe of Insured PropertY Years Ufe of Restorative Work Years
,
REQUIRED IN EFFECT
.
Type
Extent-8uildings S S
-Contents 5 5
Deductible (5 or %) i
Policy Number Effective Date
Company . I
Address I
,
APPLICANT.S COMMITMENT I
The Applicant hereby assures the Governor's Authorized Representative and the FEMA Regional Director that it (will obtain) (has ob. I
tainedl and will maintain the required insurance for years as a condition for obtaining Federal disaster assistance under
PL 93.288
APPLICANT'S AUTHORIZED REPRESENTATIVE DATE I
i
;
Signature I
I
Title I
STATE REVIEW DATE
FEMA REVIEW DATE
'.
Form Aoprov.
OMB No. 026.F!-OOS
FEMA Form 90":4 (3/801
GPO 1756..1