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PFDC to take title for firehouse; board authorizes insurance for closing up to $5,000
Summary
Board was told title transfer for the firehouse is scheduled for Sept. 9 or 11; PFDC staff will finalize bids once specifications are complete and the board authorized staff to bind property insurance up to a $5,000 annual premium to permit closing.
Alan (S3) told the board the key outstanding item for the firehouse kitchen incubator is title transfer to the PFDC; signing was scheduled for either Monday, Sept. 9 or Wednesday, Sept. 11, at which point staff must file for EDA approval and proceed to bidding once the specification writer finishes.
Alan (S3) said insurance must be in place at closing and asked the board to authorize Matthew to secure an annual policy with a premium cap of $5,000; the board moved, seconded and approved the authorization by voice vote. "Signing of document is scheduled either for Monday, September 9 or Wednesday, September 11," Alan said, and later the board recorded, "We're gonna authorize insurance up to an annual premium of $5,000."
