HomeMy WebLinkAboutCRA-R-12-0026 04-26-12 Cover MemoOmni Board of Commissioners Meeting
April 26, 2012
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Marc D. Sarnoff Date: April 20, 2012 File: 12-00329
and Members of the CRA Board
From: Pieter A. Bockweg
Executive Director
Subject: Miami Entertainment Complex General
Liability and Property Insurance Coverage
References:
Enclosures: Supporting Documentation; Legislation
BACKGROUND:
It is recommended that the Board of Commissioners of the Omni Redevelopment District Community
Redevelopment Agency ("CRA") approve and adopt the attached Resolution ratifying the renewal of commercial
general liability and property insurance coverage for the property located at 29 N.W. 13th Street, Miami, Florida
("Miami Entertainment Complex"), through Pan Am Assurance Agency, Inc., for a one (1) year period
commencing March 29, 2012, in an amount not to exceed $67,000.
In 2011, the CRA solicited and received three quotes from area insurance brokers: (1) Pan Am Assurance
Agency, Inc.; (2) NSI Insurance Group; and (3) Brown & Brown of Florida, Inc. The CRA selected the provider
with the lowest quote, which was submitted by Pan Am Assurance, Inc.
The Board of Commissioners, by Resolution No. CRA-R-11-0019, passed and adopted on March 28, 2011,
authorized the purchase of general liability and property insurance coverage for the property located at 29 N.W.
13th Street, Miami, Florida, through Pan Am Assurance Agency, Inc., for a one (1) year period commencing
March 29, 2011, in an amount not to exceed $58,582.
The insurance premiums on vacant buildings have increased statewide and the current rate represents the
lowest received bid.
JUSTIFICATION:
The CRA must purchase commercial general liability and property insurance coverage to protect against Toss
and any other potential risk.
FUNDING: Omni General Operating Fund, "Insurance," Account Code No. 10030.920101.545000.0000.00000.