Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Bind The Renewal Of Flood Insurance Policies With Various Flood Insurance Companies For Various Locations For A Not-To-Exceed Amount of $276,820.00.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
The City desires to protect its assets through the purchase of various insurance products. In accordance with the City’s Purchasing Code, Section 38.41(C) (10), purchases of insurance through the City’s “Agent of Record” are exempt from the competitive bid and competitive proposal requirements. Utilizing RFP -060-23-WV and Resolution R-2023-225, the City designated Aon Risk Services, Inc. of Florida as its broker of record.
Commission approval is requested because the City has other flood insurance policies that combined exceed the City Manager spending authority limits for the fiscal year.
The coverage provided by Hartford Fire Insurance Company for various locations includes; 1520 Polk Street Hammerstein House and Annex; Fire Station 45; 5731 Pembroke Road Washington Park Center 707 South Ocean Drive Fire Station; 1621 N 14th Avenue RAS 1621 N 14th Avenue Pump; 1621 N 14th Avenue RAS Pump #3; 1621 N 14th Avenue Effluent Pump Building; 1621 N 14th Avenue Receiving Building; 1621 N 14th Avenue Engine Driven Pumps; Transfer Station; 1621 N 14th Avenue RAS Pump #4; 1621 N 14th Avenue Refuse Storage; 1621 N 14th Avenue Refuse Water Control; 1621 N 14th Avenue Sludge Building; 1621 N 14th Avenue Truck Scale; 2207 Raleigh Street HPD Network; 2311 N 23rd Avenue Boggs Field, 3179 Taft Street West Annex Park; 1451 Taft Street Clubhouse and Restroom Shelter; 1600 Johnson Street Golf and Country Club; 1621 North 14th Avenue Bar Screen Building; Grit Tank #3 Pump; Grit Tank Pump Room 1 and 2; Influent Pump Station, Main Electrical Service Building; Oxygen Generator Tower Slab, Remote Control Building; Secondary Clarifiers Electrical and Wetair Oxidation Building; 3250 Hollywood Boulevard Police Station; 3401 Hollywood Boulevard Fire Station; 400 Entrada Drive Orangebrook; 327 Nebraska Street Parking Garage, 3150 Taft Street Rotary Park, 102 South Ocean Drive Beach Maintenance;
The total renewal cost is for a not-to-exceed amount of the combined premiums of $276,820.00.
Fiscal Impact:
Funding for the purchase of flood insurance will be available in the FY 2024 Operating Budget in account number 558.112006.51900.591940.000000.000.000 (Property Insurance) subject to the approval and adoption by the City Commission. The new premium is an estimated 15% over the previous year.
Recommended for inclusion on the agenda by:
Tammie L. Hechler, Director, Human Resources
Raelin Storey, Assistant City Manager