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Home My WebLink About2015 02-09 EDAPEDA MEETING City of Brooklyn Center February 9, 2015 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. January 12, 2015 —Regular Session 4.Commission Consideration Items a. Resolution Opting Not to Waive Tort Liability for 2015 Requested Commission Action: —Motion to adopt resolution. 5. Adjournment EDA Agenda Item No 3a 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 JANUARY 12, 2015 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 10:25 p.m. 2.ROLL CALL President Tim Willson and Commissioners April Graves, Kris Lawrence-Anderson, Lin Myszkowski, and Dan Ryan. Also present were Executive Director Curt Boganey, Director of Business and Development Gary Eitel, City Attorney Charlie LeFevere, and Carla Wirth, TimeSaver Off Site Secretarial, Inc. 3. APPROVAL OF AGENDA AND CONSENT AGENDA Commissioner Ryan moved and Commissioner Myszkowski seconded approval of the Agenda and Consent Agenda, and the following item was approved: 3a. APPROVAL OF MINUTES 1.December 1, 2014—Special Session 2.December 8, 2014 - Regular Session Motion passed unanimously. 4. COMMISSION CONSIDERATION ITEMS 4a. RESOLUTION NO. 2015-01 RESOLUTION ELECTING OFFICERS FOR THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF BROOKLYN CENTER Executive Director Curt Boganey introduced the item, discussed the history, and stated the purpose of the proposed resolution. 01/12/15 -1- DRAFT Commissioner Myszkowski moved and Commissioner Ryan seconded adoption of RESOLUTION NO. 2015-01 Approving Resolution Electing Officers for the Economic Development Authority in and for the City of Brooklyn Center. Motion passed unanimously. 5. ADJOURNMENT Commissioner Ryan moved and Commissioner Myszkowski seconded adjournment of the Economic Development Authority meeting at 10:27 p.m. Motion passed unanimously. 01/12/15 -2- DRAFT EDA Agenda Item No. 4a EDA ITEM MEMORANDUM DATE: February 9, 2015 TO: Curt Boganey, City Manager FROM: Nathan Reinhardt, Finance Director SUBJECT: Statutory Tort Liability Limits Recommendation: It is recommended that the Economic Development Authority consider approval/adoption of the attached resolution adopting the no waiver option for statutory tort liability insurance. Background: Each year the EDA must choose whether to waive 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 liability for a city for any claim arising after January 1, 2010 is $500,000 with an aggregate maximum of $1,500,000 per incident. In past years the EDA has chosen not to waive the liability limits and the regular premium for insurance has covered all claims. If the EDA were to waive the limits set by statute, it would be prudent to purchase additional insurance coverage to cover possible higher awards in liability claims. Premiums for such insurance would be approximately $3,500 per year. Budget Issues: The 2015 budget anticipates leaving the no waiver option in place for 2015 and has anticipated insurance premiums based on that no waiver option. Waiving the statutory limits would require that approximately $3,500 in additional premium costs be allocated for 2015 and in each succeeding year. Strategic Priorities: • Financial Stability Mission: Ensuring an attractive, clean, safe community that enhances the quality of life and preserves the public trust Commissioner introduced the following resolution and moved its adoption: EDA RESOLUTION NO. RESOLUTION OPTING NOT TO WAIVE TORT LIABILITY FOR 2015 WHEREAS, the Economic Development Authority of the City of Brooklyn Center has an option to waive its protection under the tort liability limitations contained in Minnesota Statutes 466.04; and WHEREAS, the statutory tort limit for 2015 is $ 500,000 per individual with an aggregate limit of$ 1,500,000 per incident; and WHEREAS, the Economic Development Authority of the City of Brooklyn Center has not opted 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, Minnesota, that the Authority does not waive the monetary limits on municipal tort liability established by Minnesota Statutes 466.02 for 2015. February 9, 2015 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. 10 AGUEINNESOTAoF CONNECTING &INNOVATING SINCE 1913 CITIES LIABILITY COVERAGE - WAIVER FORM LMCIT members purchasing coverage must complete and return this form to LMCIT before the effective date of the coverage. Please return the completed form to your underwriter or email to pstechtlmc.org This decision must be made by the member's governing body every year. You may also wish to discuss these issues with your attorney. League of Minnesota Cities Insurance Trust (LMCIT) members that obtain liability coverage from LMCIT must decide whether to waive the statutory tort liability limits to the extent of the coverage purchased. The decision has the following effects: If the member does not waive the statutory fort limits, an individual claimant would be able to recover no more than $500,000 on any claim to which the statutory tort limits apply. The total all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would be limited to $1,500,000. These statutory tort limits apply regardless of whether the city purchases the optional excess liability coverage. If the member waives the statutory fort limits and does not purchase excess liability coverage, a single claimant could potentially recover up to $2,000,000 for a single occurrence. (Under this option, the tort cap liability limits are waived to the extent of the member's liability coverage limits, and the LMCIT per occurrence limit is $2 million.) The total all claimants would be able to recover for a single occurrence to which the statutory tort limits apply would also be limited to $2,000,000, regardless of the number of claimants. if the member waives the statutory tort limits and purchases excess liability coverage, a single claimant could potentially recover an amount up to the limit of the coverage purchased. The total 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. $500--000/ Brooklyn Ctr. EDA/1 c ts liability coverage limits of 2, 000 1 000 from the League of Minnesota Cities Insurance Trust (LMCIT). Check one:LII The member DOES NOT WAIVE the monetary limits on municipal tort liability established by Minnesota Statutes, Section 466.04. LII The member WAIVES the monetary limits on municipal tort liability established by Minnesota Statutes, Section 466.04 to the extent of the limits of the liability coverage obtained from LMCIT. Date of city council/governing body meeting Signature Position______________________________ 145 UNIVERSITY AVE. WEST PHONE: (651) 281-1200 FAXt (651) 2814299 ST. PAUL, MN 55103-2044 TOLl. FREE. (800) 925-1122 WEB: WLMC.Ol.Q