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<br /> <br />AGENDA ITEM 8a <br /> <br /> <br />MEMORANDUM <br /> <br /> <br /> <br /> <br /> <br />DATE: 4/1/16 <br /> <br />TO: Joint Development Authority Board of Commissioners <br /> <br />FROM: Heather Worthington, <br />Administrative Director <br /> <br />SUBJECT: Insurance for the JDA <br /> <br />Budgeted Amount: Actual 2015 Amount: Funding Source: <br /> n/a $3,047 <br /> Estimated 2016 Amount: <br /> $4,000 <br />n/a <br /> <br /> <br />Requested Action <br /> <br />Approve the insurance package for the JDA as proposed by the League of Minnesota Cities Insurance <br />Trust (LMCIT). <br /> <br />Discussion <br /> <br />A summary of this insurance coverage proposal will be provided at the meeting. The insurance quote is <br />for a one year period. The insurance proposal is a package plan and includes coverage for: municipal <br />liability, crime, automobile, employee dishonesty, and defense cost. <br /> <br />Staff recommends that the Joint Development Authority not waive monetary limits on municipal tort <br />liability. <br /> <br />Attachments: <br />Liability Coverage – Waiver Form (signed 2015) <br />Liability Coverage – Waiver Form (blank) <br /> <br />Joint Development Authority <br />TCAAP Redevelopment Project