LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
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SUPPLEMENTAL BUDGET RESOLUTION NO. 2021-41 - APPROPRIATING FUNDING FOR HURRICANE SALLY INSURANCE PROCEEDS TO REPAIR PORT OF PENSACOLA WAREHOUSE #9/10
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RECOMMENDATION:
recommendation
That the City Council adopt Supplemental Budget Resolution No. 2021-41.
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2021; PROVIDING FOR AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
Following Hurricane Sally, a claim was filed with the City’s insurance company, FMIT, for damages to Warehouse 9/10. Following extensive negotiations with FMIT, a settlement was reached, and proceeds were received from FMIT for $1,650,925. These proceeds will be used for rebuilding Warehouse 9/10 under an agreement with the Leasee, Streamline Boats of NW Florida.
PRIOR ACTION:
None
FUNDING:
N/A
FINANCIAL IMPACT:
Adoption of the Supplemental Budget Resolution will appropriate the Insurance Proceeds in the Port Fund for the rebuilding of Warehouse 9/10.
LEGAL REVIEW ONLY BY CITY ATTORNEY: Yes
6/28/2021
STAFF CONTACT:
Keith Wilkins, City Administrator
Amy Miller, Deputy City Administrator, Administration & Enterprises
Clark Merritt, Port Director
ATTACHMENTS:
1) Supplemental Budget Resolution No. 2021-41
2) Supplemental Budget Explanation No. 2021-41
PRESENTATION: No end