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HomeMy WebLinkAbout2007 03-12 EDAP EDA MEETING City of Brooklyn Center March 12, 2007 AGENDA 1. Call to Order —The EDA requests that attendees turn off cell phones and pagers during the meeting. A copy of the full City Council packet, including EDA (Economic Development Authority), is available to the public. The packet ring binder is located at the front of the Council Chambers by the Secretary. 2. Roll Call 3. Approval of Agenda and Consent Agenda —The following items are considered to be routine by the Economic Development Authority (EDA) and will be enacted by one motion. There will be no separate discussion of these items unless a Commissioner so requests, in which event the item will be removed from the consent agenda and considered at the end of Commission Consideration Items. a. Approval of Minutes 1. February 26, 2007 Regular Session I 4. Commission Consideration Items Liabili for 2007 a. Resolution O tin Not to Waive Limited Tort ty P g •Requested Commission Action: —Motion to adopt resolution. 5. Ad'ournment J I MINUTES OF THE PROCEEDINGS OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF BROOKLYN CENTER iN THE COUNTY OF HENNEPIN AND THE STATE OF MINNESOTA REGULAR SESSION FEBRUARY 26, 2007 CITY HALL COUNCIL CHAMBERS 1. CALL TO ORDER The Brooklyn Center Economic Development Authority (EDA) met in Regular Session called to order by President Tim Willson at 8:07 p.m. 2. ROLL CALL President Tim Willson and Commissioners Kay Lasman, Mary O'Connor, Dan Ryan, and Mark Yelich. Also present were Executive Director/City Manager Curt Boganey, City Attorney Charlie LeFevere, and Deputy City Clerk Camille Worley. 3. APPROVAL OF AGENDA AND CONSENT AGENDA Commissioner Lasman moved and Commissioner O'Connor seconded approval of the Agenda and Consent Agenda, and the following item was approved: 3a. APPROVAL OF MINUTES 1. February 12, 2007 Regular Session Motion passed unanimously. 4. COMMISSION CONSIDERATION ITEM 4a. RESOLUTION NO. 2007-04 ACCEPTING BID AND AWARDING CONTRACT FOR DEMOLITION OF EDA OWNED PROPERTY LOCATED AT 1501 AND 1601 JAMES CIRCLE NORTH Executive Director/City Manager Curt Boganey introduced the item and stated the purpose for the proposed resolution. Commissioner Lasman moved and Commissioner Yelich seconded adoption of RESOLUTION NO. 2007- 04 Accepting Bid and Awarding Contract for Demolition of EDA Owned Property Located at 1501 and 1601 James Circle North. Motion passed unanimously. 02/26/07 -1- DRAFT 5. ADJOURNMENT Commissioner Lasman moved and Commissioner Yelich seconded adjournment of the Economic Development Authority meeting at 8:11 p.m. Motion passed unanimously. 02/26/07 -2- DRAFT ECONOMIC DEVELOPMENT AUTHORITY ITEM MEMORANDUM TO; Curt Boganey, Executive Director FROM: Daniel Jordet, Assistant Treasurer DATE: February 28, 2007 SUBJECT: Statutory Tort Liability Limits Recommendation: It is recommended that the attached resolution adopting the no waiver option for statutory tort liability insurance be adopted by the Economic Development Authority. Background: Each year the EDA must choose whether to waive the tort liability limit protections of Minnesota Statutes 466.04 as part of the insurance policy renewal application process. M.S. 466.04 states that the maximum liabili for an claim arisin before 1 Janua 2008 is 300,000 with an tY Y g rY aggregate limit of 1,000,000 per incident. This limitation will rise in 2008 and 2009 and will be dealt with at those times by our insurer. Our regular lial�ility insurance policy covers claims under the strictures of this law. If the EDA were to waive the limit, the EDA would be prudently advised to purchase additional insurance to cover possible higher claims arising from liability claims. Premiums for this additional insurance would be more than 7,000 per year. Budget Issues: The 2007 budget anticipates leaving the no waiver option in place for the 2007 insurance application. Waiving that limit would require purchase of additional insurance for a premium increase of at least 7,000 for the year. i LEAGUE OF MINNESOTA CITIES INSURANCE TRUST LIABILITY COVERAGE WANER FORM Cities obtaining liability coverage from the League of Minnesota Cities Insurance Trust must decide whether or not to waive the statutory tort liability limits to the extent of the coverage purchased. The decision to waive or not to waive the statutory limits has the following effects: If the city does not waive the statutory tort limits, an individual claimant would be able to recover no more than $300,OOO.on any claim to which the statutory tort limits apply. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would be limited to $1,000,000. These statutory tort limits would apply regardless of whether or not the city purchases the optional excess liability coverage. o lf the city waives the statu#ory fort limits and does not purchase excess liability coverage, a single claimant could potentially recover up to $1,000,000. on a single occurrence. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited to $1,000,000., regardless of the number of claimants. o If the city waives the stafutory tort limits and purchases excess liability coverage, a single claimant I could potentially recover an amount up to the limit of the coverage purchased. The total which all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited to the amount of coverage purchased, regardless of the number of claimants. Claims to which the statutory municipal tort limits do not apply are not affected by this decision. This decision must be made by the city council. Cities purchasing coverage must complete and return this form to LMCIT before the effective date of the coverage. For further information, contact LMCIT. You may also wish to discuss these issues with your city attomey. Brooklvn Center EDA and HRA accepts liability coverage limits of from the League of Minnesota Cities Insurance Trust (LMCIT). Check one: The city DOES NOT WAIVE the monetary limits on municipal tort liability established by Minnesota Statutes 466.04. The city WAIVES the monetary limits on tort fiability established by Minnesota Statutes 466.04, to the extent of the limits of the liability coverage obtained from LMCIT. Date of city council meeting I Signature/Date Position Return this completed form to LMCIT, 145 University A ve. W., St. Paul, MN. 55103-2044 LMCIT (11/00)(Rev. 11/03) Page 1 of 1 Commissioner introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION OPTING NOT TO WAIVE LIMITED TORT LIABILITY FOR 2007 WHEREAS, the Economic Development Authority of the City of Brooklyn Center has an option to waive its protection under the tort liability limitation contained in Minnesota Statutes 466.04; and WHEREAS, the statutory tort limit for 2007 is 300,000 per individual and an aggregate of 1,000,000 per incident; and WHEREAS, the EDA has opted not to waive its rights to limited tort liability in past years and is required to make a declaration of its intention every year. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of Brooklyn Center that the EDA does not waive the monetary limits on municipal limit tort liability established by Minnesota Statutes 466.02. March 12. 2007 Date President The motion for the adoption of the foregoing resolution was duly seconded by commissioner and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: whereupon said resolution was declared duly passed and adopted.