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Joint Development Authority <br /> TCAAP Redevelopment Project <br />DATE: <br />TO: <br />FROM: <br />SUBJECT: <br />February 6, 2023 <br />Joint Development Authority Board ofŽŵŵŝƐƐŝŽŶĞƌƐ <br />Directors Collins and Perrault <br />LMCIT Waiver <br />AGENDA ITEM 5b <br />MEMORANDUM <br />The Joint Development Authority (JDA) obtains liability coverage from the League of Minnesota <br />Cities Insurance Trust (LMCIT). Each year, the JDA must decide whether to waive the monetary <br />limits on municipal tort liability limits to the extent of the coverage purchased. The decision must <br />be made by the JDA each year. In previous years, the JDA has chosen to not waive monetary limits <br />on municipal tort liability. <br />Attachment: <br />League of Minnesota Cities Insurance Trust Liability Coverage Waiver Form <br />Action Requested: <br />Authorize the execution of League of Minnesota Cities Insurance Trust Liability Coverage Waiver <br />Form, with no waiver of statutory tort limits.