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Meeting Date:
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10/16/2019 - 7:00 PM
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Category:
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SCHOOL FACILITIES MANAGEMENT
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Type:
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Action
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Subject:
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15.10 Release and Settlement Resolution with Travelers Indemnity Company for the Saunders Main Office Fire.
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District Goals:
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Enclosure
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File Attachment:
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Rationale:
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This resolution is to settle with the Yonkers Board of Education’s property damage insurance carrier for damage of building and content losses caused by the fire of February 25, 2017.
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Funding:
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$2,192,070.22
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Resolution:
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LADIES AND GENTLEMEN:
WHEREAS: On February 25, 2017 the Saunders Trades and Technical High School incurred damage and content losses from a fire that originated in the main office, and
WHEREAS: An Emergency Declaration was issued on March 6, 2017 for Saunders Trades & Technical High School, 183 Palmer Road, FIRE DAMAGE REMEDIATION, and
WHEREAS, RELEASEE issued to RELEASOR a commercial property insurance policy, bearing policy number KTKCMB-3A479957 with an effective period of July 1, 2016 to July 1, 2017 (the “POLICY”);
WHEREAS, RELEASOR was a named insured pursuant to the terms of the POLICY;
WHEREAS, certain of RELEASOR’s property located at 183 Palmer Road in Yonkers NY (the “PROPERTY”) was damaged as a result of fire which occurred on or about February 25, 2017 (the “LOSS”);
WHEREAS, a Release and Settlement Agreement has been negotiated and entered into subject to the approval by the Yonkers Board of Education; and
WHEREAS the Board of Education has had an opportunity to review the terms of the Release and Settlement Agreement and finds the terms are fair, reasonable, and appropriate under the circumstances; and
NOW THEREFORE BE IT RESOLVED that the Board of Education hereby approves the settlement of this matter in the amount of $2,192,070.22 and approves the Release and Settlement Agreement made between the Superintendent of Schools and the Travelers Indemnity Company; and
BE IT FURTHER RESOLVED, that the Superintendent of Schools and those under his direction take all steps necessary to effectuate the Release and Settlement Agreement made between the Superintendent of Schools and the Travelers Indemnity Company.
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Approvals:
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Recommended By:
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Signed By:
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John Carr - Executive Director
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Signed By:
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Tom Collich - Purchasing Director
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Signed By:
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Finance Department - Finance Reviewer
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Signed By:
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Elizabeth Janocha - Deputy Commissioner
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Signed By:
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John Liszewski - Commissioner
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Signed By:
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Matthew Gallagher - Corporation Counsel
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Signed By:
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Dr._Andrea_S. Coddett - Deputy Superintendent
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Signed By:
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Dr. Edwin M. Quezada - Superintendent of Schools
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Vote Results:
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| Original Motion | Member Dr._Edward Fergus Moved, Member Abdool H. Jamal seconded to approve the Original motion 'LADIES AND GENTLEMEN:
WHEREAS: On February 25, 2017 the Saunders Trades and Technical High School incurred damage and content losses from a fire that originated in the main office, and
WHEREAS: An Emergency Declaration was issued on March 6, 2017 for Saunders Trades & Technical High School, 183 Palmer Road, FIRE DAMAGE REMEDIATION, and
WHEREAS, RELEASEE issued to RELEASOR a commercial property insurance policy, bearing policy number KTKCMB-3A479957 with an effective period of July 1, 2016 to July 1, 2017 (the “POLICY”);
WHEREAS, RELEASOR was a named insured pursuant to the terms of the POLICY;
WHEREAS, certain of RELEASOR’s property located at 183 Palmer Road in Yonkers NY (the “PROPERTY”) was damaged as a result of fire which occurred on or about February 25, 2017 (the “LOSS”);
WHEREAS, a Release and Settlement Agreement has been negotiated and entered into subject to the approval by the Yonkers Board of Education; and
WHEREAS the Board of Education has had an opportunity to review the terms of the Release and Settlement Agreement and finds the terms are fair, reasonable, and appropriate under the circumstances; and
NOW THEREFORE BE IT RESOLVED that the Board of Education hereby approves the settlement of this matter in the amount of $2,192,070.22 and approves the Release and Settlement Agreement made between the Superintendent of Schools and the Travelers Indemnity Company; and
BE IT FURTHER RESOLVED, that the Superintendent of Schools and those under his direction take all steps necessary to effectuate the Release and Settlement Agreement made between the Superintendent of Schools and the Travelers Indemnity Company.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0. | | The motion Carried 6 - 0 | | | | | Rev. Steve Lopez | Yes | | Kevin Cacace | Yes | | Abdool H. Jamal | Yes | | Dr._Ammir Rabadi | Yes | | Dr. John Castanaro | Yes | | Dr._Edward Fergus | Yes | |
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