St. Petersburg City Council BUDGET, FINANCE & TAXATION COMMITTEE AGENDA. Meeting of MARCH 14, :00 AM City Hall Room 100

Transcription

1 St. Petersburg City Council BUDGET, FINANCE & TAXATION COMMITTEE AGENDA Meeting of MARCH 14, :00 AM City Hall Room 100 Members & Alternate: Support Staff: Chair James R. Jim Kennedy, Jr.; Vice-Chair Charles Gerdes; Karl Nurse; Leslie Curran and William Dudley (alternate) Jennifer Millet, Billing & Collections & Thomas Hoffman, Finance Department A. Call to Order B. Approval of Agenda C. Approval of Minutes 1. February 28, 2013 D. New/Deferred Business 1. Property Insurance Renewal (Gary Cornwell) E. Continued Business 1. None. F. Upcoming Meetings Agenda Tentative Issues - 1. March 28, 2013 (a) (b) Resolution Authorization - PARC/CDBG Changes (Joshua Johnson) Post Audit for FY12 (Anne Fritz) 2. April 11, 2013 (a) Community Brownfield Fund - Follow-up (Sophia Sorolis) 3. April 25, 2013 (a) (b) Water Stabilization Fund Update (Anne Fritz, Michael Connors & Evelyn Rosetti) 2nd Quarter Grants Update (Wayne Finley)

2 4. May 9, 2013 (a) (b) 2nd Quarter Financials Report (Anne Fritz/Tom Greene) 2nd Quarter Lease Report (Bruce Grimes) G. New Business Item Referrals 1. Referrals (attached) - Review and re-prioritize referral list H. Adjournment

3 Attached documents for item February 28, 2013

4 CITY OF ST. PETERSBURG Budget, Finance & Taxation Committee Thursday, February 28, 2013 at 8:10 a.m. Present: Also: Absent: Vice-Chair Charles Gerdes and Councilmembers Karl Nurse and William Dudley (Alternate). Tish Elston, City Administrator; John Wolfe, City Attorney; Jennifer Millet, Collections Officer Billing & Collections; Thomas Hoffman, City Controller; Wayne Finley, Grants Compliance Officer, Kewa Wright, City Council Aide and Cathy E. Davis, Deputy City Clerk. Chair James R. Kennedy Jr. and Councilmember Leslie Curran. Vice-Chair Gerdes called the meeting to order with the above persons present. In connection with the approval of the February 28th meeting agenda Councilmember Nurse motioned that the agenda be approved as submitted. All were in favor of the motion. Ayes: Gerdes. Nurse. Dudley (alt). Nays. None. Absent. Kennedy. Curran. In connection with the approval of the February 14th meeting minutes Councilmember Dudley motioned that the minutes be approved as submitted. All were in favor of the motion. Ayes: Gerdes. Nurse. Dudley (alt). Nays. None. Absent. Kennedy. Curran. In connection with a 1st Quarter Grant Report Wayne Finley, Grants Compliance Officer addressed the committee and commented regarding FY12 Grant Awards and noted that the 2012 grant awards is nearly $2Million more than 2011, with 1 O more awards received over the last year. Mr. Finley presented a chart containing an analysis of city grants in comparison to the Top 1 O Florida Cities Number of Awards Worked FY11 and stated that the city ranked number 3. Mr. Finley stated he would be with Administrators next week to discuss their budget needs and grant funding strategies. He stated in the past 6 years the city is submitting on average 50 grant proposals valued at $41. 7M and receiving on average 50 awards valued at $24.8M annually in new grants. Mr. Finley also noted that this is the 4th consecutive year with no material grant audit findings, and St. Petersburg has become a national leader in grants administration with 12 cities across the country now using our administration model as a foundation for their grant programming and mentioned the following cities: Raleigh, NC, Orlando, Tallahassee, FL, Jackson, MS and Texas. Mr. Finley also stated Mayor and City Administrator are on-board with 2013 grant strategies and priorities and over the next month he will be meeting with city administrators and directors to roll out the strategy which will involve staff from all departments citywide. He will be providing them with a summary of where funding priorities will be directed and from all initial appearances, there will be plenty of opportunities for federal, state, and foundation grants, and private sector support. They will look over their proposed projects and goals for 2013 and compare them to the funding priorities to see where they can match up the two; this should better align our

5 City of St. Petersburg Budget Finance & Taxation Committee Meeting Minutes Thursday, February 28, 2013 priorities with funding opportunities. They will also be considering now in advance on where matching commitments might come from, and start aligning key stakeholders on the project or grant. Development of an Annual Grants Calendar has helped better prepare for recurring grants due to more time to plan and prepare and pull all parties together more efficiently. The administrators will identify staff to look into opportunities from their key grantors and draft a one page summary sheet that they will forward to me for closer scrutiny on applicability. Assigned department staff will do the writing and I will provide grant preparation technical support. For some grants we will look at outside subject matter professionals to write grants, particularly those highly devoted to scientific or engineering disciplines. I have already started discussion with USFSP professors to see how we can collaborate on projects and grant writing, and Mike Connors has learned that we can get grant writing assistance from the Tampa Bay Estuary Program, specifically for grants related to water resources. Funding Landscape for 2013 Community Revitalization: EPA Brownfields grants for Energy: DOE Clean Cities grants Planning, assessment, cleanup DOE Vehicle Deployment EPA Smart Growth grants Qualified Energy Conservation Bonds HUD CDBG grants HUD Choice Neighborhoods Water: EPA Clean Water & Drinking Water State Revolving Loans HUD Sustainable Communities EPA Green Project Reserve EDA Strong City, Strong Communities US Fish & Wildlife Standard and Small grants for wetlands National Fish & Wildlife Foundation 5 Star/Urban Waters Restoration Sustainable Transportation: DOT Trans Infrastructure Finance & Innovation Act loans DOT TIGER 3 FTA Transit-Oriented Dev Planning Grants DOT MAP-21, Transportation Alternatives grants and Surface Trans Program OTHER: Funder's Network Local Sustainability Matching Fund Wells Fargo and Nat Fish & Wildlife Foundation Environmental Solutions for Communities Bloomberg Cities of Service projects USDA Farmers Market Promotion grants (SUAC) EPA Environmental Workforce Dev and Job Training Citinvestor crowd funding opportunities Key Elements To Consider with any Funding Opportunity must have a good project - one that will create something good for our community, or will improve operations within our organization Make certain that you are pursuing an appropriate funding opportunity - e.g. ensure that your goals and objectives are aligned with what the grantor is requesting Prepare clear, compelling grant story that demonstrates your understanding of the guidelines and your project. Prepare one page fact sheet that can be easily distributed Gain stakeholder support early 2

6 City of St. Petersburg Budget Finance & Taxation Committee Meeting Minutes Thursday, February 28, 2013 Engage in strong advocacy, both within the community and among key persons such as elected Officials Key Grant Funding Strategies: 1. Organize an internal Funding Team, with leadership from the top 2. Match our priorities (organizational or community) to the best resource opportunities based on eligibility and a competiveness assessment 3. Prepare your department annual grant seeking strategy 4. Develop one page briefing materials for our top projects that can be easily disseminated 5. Gather support for our top projects, from local and regional parties and elected officials, Le.letters of support or commitment from local supporters and elected officials, both Congressional and State 6. Identify matching needs and opportunities EARLY, and align budgeting to key project priorities and match requirements 7. Build relationships with federal agency leaders and program officers/managers, and keep in touch. Contact them with pertinent questions that help you build rapport 8. Build alliances with Congressional members and state representatives, and keep them informed of our projects through staff 9. Build relationships with state leaders, department secretaries, and program officers 10. Celebrate our success via dedications, ribbon-cutting events, and working with local press Where to Find Funding Opportunities: 1. Grants.gov - Grants.gov is the single access point for grant programs offered by all federal grants making agencies. Grants.gov is the clearinghouse for all federal grant opportunities, and allows organizations to electronically find and apply for more than $400 billion in federal grants and ultimately manage grant funds online through a common web site. Subscribing to Grants.gov will provide you perpetual notice of grant opportunities from federal agencies - simply visit the website and sign up for its newsletter and grant opportunities. 2. Agency Websites and Listservs - Many agencies have listservs to which interested parties can subscribe to receive the latest grant opportunities and information. Simply visit the respective agency grants office website and subscribe per instructions. 3. Florida Administrative Weekly, - The Florida Administrative Weekly is a weekly publication generated through the Florida Department of State to provide citizens access to proposed rules and regulations, notices of public meetings, and bid and Request for Proposal (RFP) announcements. 4. Grant Station Research Database - This database provides access to thousands of opportunities from all types of granting agencies. Contact the Mayor's Office Education & Government Services office to obtain this reference. 5. Single Audit Clearinghouse Back Door Search - identifies federal projects awarded and leads to Catalog for Domestic Assistance (CFDA) number, which can then be researched for current grant Availability 3

7 City of St. Petersburg Budget Finance & Taxation Committee Meeting Minutes Thursday, February 28, 2013 In connection with committee discussion the following comments, inquiries and observations were made: CM Dudley - asked what was the average funding obtained from small & large grants. Mr. Finley gave the following examples: Small grants: Wal-Mart or Target typically $1,000 for smoke alarms and other safety items. Large grant: $2.4M from the Department of Energy. CM Dudley also asked if it would be helpful to Mr. Finley if the city hired a grant writer. CM Nurse - Commented that the city's ability to obtain SWIFTMUD funding was because there were projects ready to go. CM Nurse also stated the coordination efforts of Mr. Finley will pay off in the long run and stated community rebuilding was a good thing. CM Nurse further stated he felt it would be useful for city departments to have information regarding matching opportunities in advance. Vice-Chair Gerdes - congratulated Mr. Finley on 4yrs with no audit findings and being a National Leader in Grant Administration.CM Gerdes asked if Mr. Finley was aware of who other competitors were when applying for grants and stated he felt it would be helpful to have a measurement that would show the grant amount and the percentage that was received by the city. In closing CM Gerdes asked if Mr. Finley had an opinion of how the pending Government sequester would affect grant funding. There being no further business, the meeting was adjourned at 8:57 a.m. 4

8 Attached documents for item Property Insurance Renewal (Gary Cornwell)

9 :MEMORANDUM TO: FROM: Members of Budget, Finance and Taxation City Gary G. Cornwell, Director, Human Resource DATE: March 14, 2013 SUBJECT: Annual Renewal of the City of St. Petersburg's Property Insurance The property insurance for the City of St. Petersburg has a renewal date of April 1, Over the past several years, property insurance coverage and costs for the City of St. Petersburg have been a challenge, similar to the situation experienced by homeowners. The current economic situation combined with various global disasters including 2012's Hurricane Sandy present a challenging marketplace for customers. In recent years to facilitate savings, the City of St. Petersburg has divided its property into two different programs, the Water Resources Program and the General Property Program, which also includes Tropicana Field. The current limit of insurance on the Water Resources Program for fire and all wind, named and not named is equal to the total insured value (TN) of the property in that program. The deductible for Named Wind Storm and Flood is 5% of the TIV at the affected location subject to a minimum of $1,000,000. The deductible for other perils is $250,000. The Water Resources Program currently has four carriers who are responsible for their respective percentages of a loss and the premium (rate per million of TIV) on this program is significantly less than the General Property Program. The current General Property Program is more complex as it consists of nineteen participants in multiple tiered layers of coverage, with carriers at the lower levels insuring the initial amounts of loss (at higher premiums), and those at higher tiers insuring subsequent higher loss amounts. This enables carriers to share the risk. Last year, the city also participated in this coverage, self insuring 10% of the primary layer of coverage, with a liability of $5,000,000. The current deductible for Named Wind Storm and Flood in the General Property Insurance Program is 5% of the total insured value at the affected location subject to a minimum of $1,000,000. The deductible for other perils is $100,000. When evaluating claims filed in the event of a disaster, FEMA considers among other factors the deductible considered to be "typical" for the geographic region. As can be seen from the attached chart detailing property insurance obtained by other cities in Florida, a 5% deductible is the norm. Accordingly it is likely that FEMA will look for the City to have a set 5% deductible if and when they consider claims reimbursement. In addition, FEMA requires facilities located in the 100 year flood plain to carry NFIP flood Insurance or the equivalent. The City's flood coverage to meet this requirement is contained within the first two layers of coverage.

10 The proposed Water Resources Program detailed in the attached charts provides a program with four carriers and an insurance coverage limit of $361,837,650 (fire and non named windstorm; named windstorm excess of $100,000,000 is covered at 80%) for a TIV of $361,837,650 at a premium of $1,097,262. This premium reflects an increase in premium rate of 5.98%. Brown and Brown, Inc. has proposed two options from the base, titled Option 1 which would increase the Named Windstorm and Flood deductibles from 5% to 10% resulting in a premium decrease of $51,617. Option 2 would decrease Named Windstorm limit to $100,000,000 for a premium decrease of $17,957. The proposed General Property Program provides a program with nineteen participants and multiple layers and is illustrated on the attachment titled "General Property Program Layers". The program offers an insurance coverage limit of $305,000,000 for a TIV of $728,258,411 including a coverage limit of $100,000,000 for Named Wind Storm per occurrence and Flood annual aggregate at a premium of $3,481,445. This premium reflects an increase in the premium rate of 0.27%. Brown and Brown, Inc. has proposed two options for the General Property Program. Option 1 would add Terrorism coverage for Tropicana Field for a premium increase of $55,124. Option 2 would increase the Named Windstorm and Flood Deductible from 5% to 10% resulting in a premium decrease of $135,411. In the last year the city purchased property insurance for the Neighborhood Stabilization Program (NSP) properties. The proposed insurance for the NSP Program provides a single insurer policy with a maximum insurable value of $2,500,000 at an estimated premium of $20,000. This policy provides coverage for residential properties that are acquired through the Housing and Community Development Department's NSP Program. As these properties are intended for resale they cannot be covered under the General Property Program. Total renewal cost will include Water Resources Program, General Property Program, and NSP Program premiums and $82,800 for the fixed broker fee (in lieu of 10% commission), for the City's Broker of Record, Brown and Brown, Inc. Staff recommends the base option on the Water Resources Program, including NFIP Policies; and the base option on the General Property Program, including Boiler & Machinery, NFIP Policies and Fine Arts Coverage (these policies were included in prior years but not specifically itemized separately from the total program); and proposed coverage for the NSP Program. The total expenditure for the city is $4,681,507, including broker fee. This results in a $301,070 increase in total cost compared to 2012, but is within funds budgeted for Fiscal Year ATTACHMENTS: Water Resource Program Comparison Highlights Water Resource Named Windstorm Limits General Property Program (Includes Tropicana) Comparison Highlights General Property Insurance Program Layers Detailed Comparison of Property Insurance with Other Cities Neighborhood Stabilization Program Highlights Proposed Resolution

11 City of St. Petersburg, Florida Property Comparison Highlights 1as or (brief description) Water Resources Program Total Limit of Insurance Major Deductibles Layers # of Insurer Insured Participants Value (TIV) including City ,837, ,650 Named Windstorm 1 4 5% of TN at affected location(s) Sublimits: (subject to a 1, minimum) Named Windstorm Excess of 100,000,000 is covered at 80% Flood 5% of TN at affected location(s) (subject to a 1,000,000 minimum) Flood Annual ~gregate All Other Perils All Zones: 50,000, ,000 Zones V &A: 20,000,000 Premium & Tax 1,046,149 2,891 rate per mil TN 5.98% increase over 2012 Terrorism (TRIA) 27,176 Engineering: 16,000 NFIP policies: 7, ,482, ,482,250 Named Windstorm ,808 5% of TN at affected location(s) 2, 728 rate per mil TN Sublimits: (subject to a 1,000,000 minimum) 6.06% increase over 2011 Named Windstorm Flood Terrorism (TRIA) Excess of 100,000,000 5% of TN at affected location(s) 24,535 is covered at 100% (subject to a 1,000,000 minimum) Engineering: 16,000 Flood Annual As:!:gregate All Other Perils NFIP policies: 6,697 All Zones: 50,000, ,000 Zones V & A: 20,000,000 Option 1: Increase Named Windstorm & Flood deductibles from 5% to 10% per occurrence (note A) - Premium decrease: 51,617 Note A: Additional first dollar risk assumed by the City per occurrence (before insurance applies) - 18,091,883 Option 2: Decrease Named Windstorm limit from 361,837,650 (note B) to 100,000,000 - Premium decrease: 17,957 Note B: 80% of the 261,837,650 limit excess of loomm covers Named Windstorm Major Underwriting Issues Coastal Wind & Flood: Large concentrated values at risk. Coastal Wind & Flood: Each underwriter has limited capacity available in the Tampa Bay area, which is selectively allocated. Coastal Flood: 186,412,550 of values in Flood Zones V & A (close to sea level)

12 City of St Petersburg Water Resource Property Insurance Program Effective April 1, 2013 Water Resource Named Windstorm Limits Mil total (TIV) mil mil mil 100 MIL total Chartis Princeton Ace Westport 20mil 25mil 40mil II II 15 mil 11 Totals Grand total Deductible 20Mil Mil Mil % of TIV at affected location(s) subject to a 1 Mil minimum Mil

13 City of St. Petersburg, Florida Property Comparison Highlights 1asor (brief description) General Property Program including Tropicana, excludin~ Water Resources Total Insured Limit of Insurance Major Deductibles Value (TIV) ,258, ,000,000 Sublimits: 100,000,000 combined maximum for Named Windstorm & Flood Named Windstorm limit is per occurrence and Flood limit is an annual aggregate Named Windstorm 5% of 11V at affected location(s) (subject to a 1,000,000 minimum) Flood 5% of TIV at affected location(s) (subject to a 1,000,000 minimum) All Other Perils 100,000 Layers # of Insurer Participants including City 6 19 Premium &Tax 3,730,899 City Participation (282, 700) 3,448, rate per mil TIV 0.27% increase over 2012 Boiler & Machinery: 21, 1 78 NFIP policy: 4, 786 Fine Arts: 7, ,471, ,000,000 Sub limits: 100,000,000 combined maximum for Named Windstorm & Flood Named Windstorm limit is per occurrence and Flood limit is an annual aggregate Named Windstorm 5% of 11V at affected location(s) (subject to a 1,000,000 minimum) Flood 5% of TIV at affected location(s) (subject to a 1,000,000 minimum) All Other Perils 100, ,491,994 City Participation (264,214) 3,227,780 5,109 rate per mil TIV 4.18% increase over 2011 Boiler & Machinery: 19,867 NFIP policies: 13,440 Fine Arts: 6,657 Terrorism (Tropicana): 52,853 Option 1: Include Terrorism coverage on Tropicana Field - Premium increase: 55, 124 Option 2: Increase Named Windstorm & Flood deductibles from 5% to 10% per occurrence (notes A & Bl - Premium decrease: 135,411 Note A: Premium decrease also assumes City 10% participation in the 50MM primary layer Note B: Additional first dollar risk assumed by the City per occurrence (before insurance applies) - 36,412,921 Major Underwriting Issues Coastal Wind & Flood: Large concentrated values at risk. Coastal Wind & Flood: Each underwriter has limited capacity available in the Tampa Bay area, which is selectively allocated. Coastal Flood: 139,495,466 of values in Flood Zones V & A (close to sea level). Tropicana Field (304,007,300): Extraordinarily high single structure value (increases the probable maximum loss of the insurance program). Tropicana Field: Unique Roof Construction (lack of historical and actuarial loss data makes insurers uncomfortable).

14 City of St Petersburg General Property Insurance Program Effective April 1, mil total mil mil mil 4 carriers :I! carrier 100 MIL total 14.5 mil 1.25 mil 21.5 mil mil 5 carriers 50 MIL total 3 carriers 14.5 mil 1 carrier 1.25mil Total in mil A B 29 c D 21.5 E F Grand Total 305 *City participating in first layer at 10% of 50mil = 5 mil

15 Detailed Comparison of Property Insurance with Florida Cities Rates and Values FY06 FY07 FY08 FY09 FY10 FY11 FY12 Current Wind Renewal Coverage& Coverage& Coverage & Cowrage& Cowrage& Coverage& Coverage& Cowrage City Date P.remlum P.remlwn P.remlum Premium Premium P,remlum Premium nv Umlts Wind ~uctlble Flood Umlts Flood ~uctlble I St. Petersburg 4/1/2012 approx 500 Mil 540Mil Mil 594.7Mil 615Mil Mil unnamed 683,471,211 & 100 Mil named 5% of TIV w/ 1 mil min 100,000,000 5% of TIV w/ 1 Mil min 2 Programs General Named and Property & WR Annual Non Named NI Zones 50 Mil Zones Premium 6.1 Mil 5.6Md 4.6Mil 5Mil 4.6Mil 4.3Mil 4.3MII" 333,482, ,482,250 5% of TIV w/ 1 Mil min A&V20Mil 5% of TIV w/ 1 Mil min Tampa 2nmnrams 4/15/ Mil 137Mil See Below See Below See Below See Below See Below See Below See Below See Below See Below See Below Property 150Mi1Non- Damage/Time 150Mil 150Mil 150Mil 150Mil 150MIL Named Storm Named Windstorm 5% Element Value (coveraqe) (coveraqe) (coveraqe) (coveraqe) (coveraqe) 1,076,345, Mil Named /$500,000 Deductible $50 Million $500,000 Min. Annual Premium 4.5Mil 3.1 Mil 2.4 Mil 2.8Mil 2.7Mil 2.6Mil 3Mil See Below See Below See Below See Below 150 Mil Non- Named Slorm Named Windstorm 5% 5%/Min(Ded) Water &Sewer PrOQram 150Mil 150 Mil 150Mil 150Mil 150Mil ,213 50Mi1Named $500,000 Min Deductible $5M(A Vl $25M AU Other Zones $ Annual Premium 1,362,632 1,243, ,079 1,162, ,n3 1,251,733 Named Storm 3%/500,000 Orlando 4/1/ Mil 200Mil 250Mil 250Mil 350Mil 350Mil 1.4billion 50,000,000 min 25,000, ,000 Annual Premium 931,419 1,286,035 1,349, mil.. 1,294,410 1,366,557 5MM ded on utmties Ft. Lauderdale 4/1/ Mil 25 Mil 100Mil 100Mil 150 Mil 150Mil 150Mil 498,000, ,000,000 5MM ded on non- utilities 35,000, ,000 (A) Annual Premium 2,023,119 2,390,997 1,833, ,166 2,026,806 2,112,724 2,166,952 50,000 other Named storm 5%, $600,000,000 per occ and in Maximum of aggregate respect to Flood Named storm 5% $25,000,000,non named Except, 1 OOyr Flood Zone- $25000,000 max non- Jacksonville 3/1/ Mil 200Mil 500mil 480Mil 500Mil 600Mil 600Mil 2, 160,600, Mil $100, ,000,000 named $100,000 Annual Premium 4.5Mil 5,332,940 5,8n,420 6,100, Mil 5.4Mil 5,991,358 non-named 100,000 non-named 100,000 5% subject to 250,000 min outside of 1 OOyr flood, 35Mi1Named 35 Mil outside ol 100 yr flood 1,000,000 min insode Miami 5/1/2012 = 340,039, ,039, ,000, ,000, ,000, ,000, ,000, ,522,921 Storm 5% subj to 250,000 min zone, 25 Mil inside of 100 yr flood of 10Clvr flood 5% subj to 1,000,000 min Named windstorm hurricane 2 Pr0<1rams 3,574,025 3,326,787 80,000,000 80,000,000 80,000,000 45,594,646 46,462,539 45,594,646 45,594,646 and hail, 250,000 for all % Gen. L. & JLK Annual Premium Gen 1,697,846 2,409, Mil 2,n8,008 2,888,744, Annual Premium JLK 691, , , ,849 Comments: Citv of Miami removed Oranae Bowl from insured list; demolished in Mav of 08 For 2012 Renewal Citv of St. Petersbura opted to self insure 10% of the Primarv $50,000,000 /aver of insurance on the General Propertv Proaram Citv of Orlando discovered thev provided inaccurate information for 2010 and revised information was not reoorted prior to submittal of this data.

16 City of St. Petersburg, Florida Property Comparison Highlights (as of ) (Brief description) Neii!hborhood Stabilization Proi!ram Total Insured Limit of Insurance Value (TIV) Varies Monthly Maximum 2,500,000 2,500,000 Sublimit: 250,000 Per Property Policy does not provide Flood Coverage Windstorm Major Deductibles Windstorm 5% of TIV at affected location(s) (subject to a 2,500 minimum) Vandalism & 2,500 Malicious Mischief All Other 1,000 Perils Number of # of Insurer Premium Insurance Participants & Layers Tax , Varies Monthly Maximum 2,500,000 2,500,000 Sublimit: 250,000 Per Property Policy does not provide Flood Coverage Windstorm Windstorm 5% of TIV at affected location(s) (subject to a 2,500 minimum) Vandalism & 2,500 Malicious Mischief All Other 1,000 Perils ,000 Major Underwriting Issues Vacant Residential Homes

17 Resolution No A RESOLUTION AUTHORIZING THE ACCEPTANCE OF THEPROPERTYINSURANCECOVERAGEPROPOSAL SUBMITTED BY BROWN AND BROWN INC; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City's current property insurance coverage expires as of March 31, 2013; and; WHEREAS, due to the limited number of markets for coverage of this nature and the specialized nature of property insurance programs of this scope, it was determined that it would be most advantageous for the City to utilize the firm of Brown & Brown, Inc. as its designated broker for the purpose of securing proposals for coverage for the policy period April 1, 2013 to March 31, 2014 at a fixed fee of $82,800 (in lieu of l 0% commission); and WHEREAS, Brown & Brown, Inc. has secured a proposal to provide property insurance for properties assigned to the Water Resources Department for an insured value and limit of $361,837,650 (Fire and non Named wind) and Named Windstorm excess of $100,000,000 is covered at eighty percent, and Flood annual aggregate ($50,000,000 for all zones and $20,000,000 for zones V & A) with a five percent Named Windstorm and Flood deductible for an approximate annual cost, including National Flood Insurance Policies, Terrorism Coverage, and Loss Engineering fee, of $1,097,262 including taxes and assessments; and WHEREAS, Brown & Brown, Inc. has secured a proposal to provide property insurance for properties within the Neighborhood Stabilization Program for a maximum insured value of $2,500,000 and a $250,000 per property limit with a five percent Windstorm deductible for an approximate annual cost of $20,000; and WHEREAS, Brown & Brown, Inc. has secured a proposal to provide property insurance for the remaining City properties including Tropicana Field for a total insured value of $728,258,411 and a coverage limit of $305,000,000 (fire & non Named Wind) with a coverage limit of $100,000,000 for Named Wind Storm per occurrence and Flood annual aggregate with a five percent Named Windstorm and Flood deductible with the City self insuring ten percent of the first layer of $50,000,000 coverage, for an approximate annual cost, including Boiler & Machinery, Fine Art, and National Flood Insurance Policies, of $3,481,445; and NOW, THEREFORE, BE IT RESOLVED By the City Council of St. Petersburg on March 21, 2013 that the Mayor is authorized to accept the aforementioned proposals submitted by Brown & Brown, Inc. to provide property insurance coverage effective April 1, 2013, at a total estimated cost of $4,681,507. This resolution shall become effective immediately upon its adoption. Approved as to form and content:

18 Attached documents for item None.

19 Attached documents for item March 28, 2013

20 Attached documents for item April 11, 2013

21 Attached documents for item April 25, 2013

22 Attached documents for item May 9, 2013

23 Attached documents for item Referrals (attached) - Review and re-prioritize referral list

24 BUDGET, FINANCE & TAXATION COMMITTEE PENDING / CONTINUING REFERRALS March 14, 2013 Page 1 of 1 TOPIC DATE REFERRED REFERRED BY RETURN DATE STAFF RESPONSIBLE SPECIAL NOTES Property Insurance Renewal Cornwell Cornwell Property Insurance Renewal Post Audit for FY Fritz Fritz Report. Resolution Authorization Johnson Johnson PARC's Request to Make Changes to its Rehabilitation Request for its facilities. Community Brownfield Fund Response due back to Council in 45 days Council Sophia Sorolis Response to the Committee s Motion at the BF&T meeting - Staff given 45 days to conduct outreach to interested persons and provide a process for the program. Water Stabilization Fund update Council Fritz Update prior to the next quarterly meeting tentatively scheduled for 5/9/ nd Quarter Grants Update Preset Council Finley Report 2 nd Quarter Financial Report Preset Council Fritz/ Greene Report 2 nd Quarter Lease Report Preset Council Grimes Report 3 rd Quarter Grants Update Preset Council Finley Report

25 3 rd Quarter Financials Report Preset Council Fritz/Greene Report 3 rd Quarter Lease Report Preset Council Grimes Report Budget clean up 4 th Quarter Financial Report Preset Council Fritz/Greene Report Management Evaluation Discussion- Follow up to meeting Council Chair Kennedy Continue discussion of potential management evaluations suggested at meeting.

26 BUDGET, FINANCE & TAXATION COMMITTEE WEEKI WACHEE QUEUE March 14, 2013 Page 1 of 1 TOPIC DATE REFERRED REFERRED BY RETURN DATE STAFF RESPONSIBLE SPECIAL NOTES Off-road bicycle trail in North St. Pete Mirror Lake Shuffle Board Club (maintenance/restaurant) Kennedy Nurse Maximo Park Project Kornell Lighting improvement for Sunset Park Polson Williams Park Project Curran Frank Pierce Center (Bartlett Park) Shade Project Childs Park Shade Project Nurse Newton Childs Park Lake Project Newton Park for Broadwater Area Kornell