Label
3900SummitSt AdminBuilding
Law/Risk Management
Michael Walton (x1037)
Title
Authorizing the partial insurance claim settlement and the acceptance and deposit of $638,273.00 from Allianz Global Corporate & Specialty SE on the City's insurance claim resulting from the December 24, 2022, sprinkler system failure at the Water Reclamation Administration Building; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
On December 25, 2022, the Water Reclamation Administration Building's sprinkler system burst flooding the basement and first floor offices requiring immediate remediation/cleanup and repairs, as well as the preservation of documents. The City incurred costs associated with the remediation/cleanup, and repairs and replacement of the heating and sprinkler systems. On January 3, 2023, the City of Toledo filed its claim No. SF-USCC19599023 with Allianz Global Corporate & Specialty insurance company for reimbursement of such costs.
On December 17, 2024, Allianz Global Corporate & Specialty SE paid the amount of $638,273.00 towards a partial resolution of the City of Toledo's claims for repairs to the Water Reclamation Administration Building.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to accept the partial insurance claim settlement and accept and deposit of $638,273.00 from Allianz Global Corporate & Specialty SE into the Sewer Replacement Fund Account Codes 6073-36000-4UC4623STDSTD and 6073-36000-4UC0625STDSTD from the City's insurance claim resulting from the December 24, 2022 damages at the Water Reclamation location.
SECTION 2. That this ordinance, being an emergency measure, shall be in force and effect from and after its passage. The reason for the emergency lies in the fact that this ordinance is necessary for the immediate preservation of the public peace, health, safety and property, and for the further reason that this ordinance must be immediately...
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