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Alderman Underwood: housing authority nearly settled with insurer, lot clearing expected soon
Summary
Alderman Underwood said the housing authority has reached agreements with its insurer on a replacement‑value claim and expects to clear a damaged lot after paperwork is signed, likely within about a month.
Alderman Underwood told the board the housing authority has largely resolved an insurance dispute and expects to clear a damaged lot once the remaining paperwork is signed.
Underwood said the insurer initially sought to calculate replacement value based on construction costs from the 1960s, which delayed proceedings, but that recent agreements mean the authority will "clear that lot" and move forward as soon as signatures are in place. He told the board the housing authority had permission to clear the lot but delayed as loggers insisted on final paperwork to avoid later disputes.
"They expect it to be finished within a month or so at the most," Underwood said. No specific settlement amount or timetable beyond that estimate was provided in the public transcript.
