HomeMy WebLinkAboutCRA-R-16-0056 Bid Waiver MemoKen Russell
Board Chair
INTER -OFFICE MEMORANDUM
Jason Walker
Executive Director
To: Board Chair Ken Russell Date: November 17, 2016
and Members of the CRA Board
From: Jason Walker
Executive Director
Subject: Ratification of Emergency Procurement of
Commercial Property & General Liability
Insurance for CRA Owned Capital
Properties
BACKGROUND:
It is recommended that the Board of Commissioners of the Omni Redevelopment District
Community Redevelopment Agency ("CRA") adopt the attached Resolution, by a four -fifths (4/5th)
vote, pursuant to Section 18-90 of the Code of the City of Miami, Florida, as amended, as adopted
by the CRA, ratifying, approving, and confirming the CRA Executive Director's finding of an
emergency; waiving the requirements for a competitive sealed bidding process and retroactively
approving the selection of Century Advisory Services, Inc. d/b/a Century Risk Advisors for the
immediate binding and procurement of commercial property and general liability insurance
coverage, for two (2) CRA owned properties, for a total expenditure amount not to exceed
$100,000.00 for twelve months (12) months of coverage, effective October 1, 2016 through
September 30, 2017.
In late September, 2016, as Executive Director, I immediately purchased commercial property
and general liability insurance, for two (2) properties owned by the CRA and located at 1401 N.
Miami Avenue, and 50 N.W. 14 Street, Miami, FL, respectively, in anticipation and preparation of
Hurricane Matthew. Although, the immediate threat dissipated, both properties did not have the
appropriate coverages in -force, which may have led to the impairment of critical operations and
financial loss to the CRA's mission and commitment to the residents of its Redevelopment Area.
The binder and election of coverage was executed on September 30, 2016 between the CRA and
the policy purveyor. Such binder included a disclaimer noting that "coverage cannot be bound
when severe weather is threatening."As a result, in anticipation of, Hurricane Matthew making
land -fall in southeast Florida as a Category 5, the CRA's properties were fully insured in case of
catastrophic loss.
RECOMMENDATION:
The finding of an emergency and immediate selection of Century Advisory Services, Inc. d/b/a
Century Risk Advisors was essential in protecting the CRA owned properties which support the
mission and critical functions within the CRA's redevelopment area. It is recommended that the
emergency purchase of insurance for the two (2) CRA-owned properties be approved.
OMNI COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI
1401 N. Miami Ave 1 2"d Floor [ Miami, FL 33136
Tel (305) 679-6868