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<br /> <br />AGENDA ITEM 10a <br /> <br /> <br />MEMORANDUM <br /> <br /> <br /> <br /> <br /> <br />DATE: June 1, 2015 <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 Amount: Funding Source: <br />n/a $2,192 plus $855 <br />for excess liability <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 is attached. The insurance quote is for a one year <br />period. The insurance proposal is a package plan and includes coverage for: municipal liability, crime, <br />automobile, employee dishonesty, and defense cost. Additionally, the JDA can purchase excess liability <br />coverage. <br /> <br />This excess liability insurance option will need some discussion and a decision by the JDA. <br /> <br />Joint Development Authority <br />TCAAP Redevelopment Project