Label
3900SummitSt AdminBuilding
Law/Risk Management
Merritt W. Green (x1037)
Title
Authorizing the payment of $250,000.00 from Allianz Global Corporate & Specialty SE to the City of Toledo on its insurance claim No. SF-USCC19599023; 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 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 January 5, 2023, Allianz Global Corporate & Specialty SE confirmed coverage of City of Toledo's claim No. SF-USCC19599023 subject to the terms and conditions of Allianz Global policy No. USC007053220. Such coverage applies to real and personal property owned by the City of Toledo. On March 27, 2023 Allianz Global Corporate & Specialty SE paid the amount of $250,000.00 towards the resolution 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 hereby authorized to accept the payment of $250,000.00 for the City of Toledo's claim No. SF-USCC19599023 against Allianz Global Corporate & Specialty SE.
SECTION 2. That the Director of Finance is hereby authorized and directed to deposit such payment in the sum of $250,000.00 into Account Code No. 6073/36000/4UC46231STDSTD of the Sewer Replacement Fund.
SECTION 3. 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 pre...
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