Resolution No CRA 24-19-1112ED
RESOLUTION NO. CRA-24-1 9-11 12
A resolution of the City of South Miami Community Redevelopment
Agency (SMCRA) authorizing a funding disbursement in the amount of
$15,571 to Florida Municipal Insurance Trust (FMIT) to pay for property,
general liability and automobile insurance coverage for the 2019-2020
Fiscal Year and authorizing the SMCRA Executive Director to take all
action necessary to effectuate such coverage.
WHEREAS, the SMCRA's Interlocal agreement with Miami -Dade County (SMCRA)
and applicable laws authorize the SMCRA to enter into contracts and agreements
necessary to effectuate the goals and objectives of the community redevelopment plan;
and
WHEREAS, the SMCRA annually enters into a property, general liability, and
automobile insurance coverage policy agreement with the Florida Municipal Insurance
Trust; and
WHEREAS, in FY 2018-2019, the Agency paid $16,943.00 for such insurance; and
WHEREAS, the Agency reduced the insurance costs for the upcoming fiscal year
due to the disposition of properties associated with the development of Madison Square;
and
WHEREAS, the City of South Miami (CSM) pays their insurance yearly instead of
quarterly and last year, the SMCRA did as well; and
WHEREAS, the SMCRA Board desires to effectuate the goals and objectives of the
SMCRA Community Redevelopment Plan, including entering into agreements necessary
to provide property, general liability and automobile insurance coverage for the SMCRA.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SOUTH MIAMI, FLORIDA THAT:
Section 1. The above recitals are incorporated in this resolution.
Section 2. The South Miami Community Redevelopment Agency Board
authorizes a funding disbursement to Florida Municipal Insurance Trust in the amount of
$15,571.00 to pay for property, general liability, and automobile insurance coverage for
Resolution, No. CRA 24-19-1112
the SMCRA for FY 2019-2020 which is to be charged to Account No. 610-1110-583-31-25
(Property Management Account) and authorizes the SMCRA Executive Director to take all
action necessary to effectuate such coverage.
Section 3. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 9ch day of September 2019.
ATTEST:
" cQ
SECRE RY
READ AND APPROVED AS TO FORM
GEN RALCOUNS
APPROVED:
Board Vote:
6-0
Chair Stoddard:
Yea
Vice Chair Harris:
Yea
Member Welsh:
Yea
Member Liebman:
Absent
Member Gil:
Yea
Member Jackson:
Yea
Member Kelly:
Yea
Agenda Rem No:6.
South Miami Community Redevelopment Agency Agenda Item Report
Meeting Date: September 9, 2019
Submitted by: Evan Fancher
Submitting Department: Community Redevelopment Agency
Rem Type: Resolution
Agenda Section
Subject:
A resolution of the City of South Miami Community Redevelopment Agency (SMCRA) authorizing a funding
disbursement in the amount of $15,571 to Florida Municipal Insurance Trust (FMIT) to pay for property, general
liability and automobile insurance coverage for the 2019-2020 Fiscal Year and authorizing the SMCRA
Executive Director to take all action necessary to effectuate such coverage.
Suggested Action:
Attachments:
FMIT Memo 2019-2020.docx
FMIT Resolution 2019-2020.docx
WIT 2019-2020 1st. Quarter Annual Bill.pdf
CITY OF SOUTH MIAMI COMMUNITY REDEVELOPMENT AGENCY
OFFICE OF THE EXECUTIVE DIRECTOR
INTER -OFFICE MEMORANDUM
To: The Honorable Chairman & Members of the SMCRA Board
FROM: Evan Fancher, Executive Director
DATE: September 09, 2019 Agenda Item No.:
SUBJECT: A resolution of the City of South Miami Community Redevelopment
Agency (SMCRA) authorizing a funding disbursement in the amount of
$15,571 to Florida Municipal Insurance Trust (FMIT) to pay for property,
general liability and automobile insurance coverage for the 2019-2020
Fiscal Year and authorizing the SMCRA Executive Director to take all
action necessary to effectuate such coverage.
BACKGROUND: The South Miami Community Redevelopment Agency (SMCRA) inter -local
agreement with Miami -Dade County authorizes the Agency to enter into
contracts and agreements necessary to effectuate the goals and
objectives of the redevelopment plan. The Agency annually enters into a
property liability policy agreement with the Florida Municipal Insurance
Trust (FMIT) for annual property, general liability, and automobile
insurance.
This year the SMCRA seeks to pay the entire year's insurance premium in
one payment.
To avoid any potential lapse in insurance coverage, staff recommends
approval of the attached resolution authorizing payment to the Florida
Municipal Insurance Trust in the amount of $15,571. This will allow the
Agency to pay this fixed expense in its entirety for the entirety of FY
2019-2020.
REVENUE: The total amount of $15,571 will be charged to Account No. 610-1110-
583-31-25 (Property Management Account).
ATTACHMENTS: Resolution
Insurance Invoice
7
or
Florida Municipal Insurance Trust (FMIT)
Annual Billing - 19/20 Fund Year
FNIT A 0%9
Invoice Data: 811612019
ATTN: Lorraine Council
South Miami Community Redevelopment Agency
5825 SW 68th Street a4
Miami, FL 33143
Due Date: 10/112019
Please make check payable to:
Florida Municipal Insurance Trust
P.O. Box 1757
Tallahassee. FL 32302.1757
General Liability Auto Liability Auto Physical Property Workers Total
Damage Compensation
Gross Premium $10,885.00 $190.00 $0.00 $4,496.00 $0.00 $15.571.00
Total Net Premium $10,885.00 $190.00 $0.00 $4,496.00 $0.00 $15,571.O0
Coverage
Premium
Total Net Premium
General Liability Coverage
$10,885.00
$10,885.00
Auto Uablllty Coverage
$190.00
$190.00
Property Coverage
$4,496.00
$4,496.00
Total Installment Amount
Total Due by 10/1/2019
$15,571.00
$15,571.00
NOTE: THIS RENEWAL IS BASED ON ALL COVERAGES, IF ANY OF THE LINES OF COVERAGE ARE NOT RENEWED, THE OTHER LINE PRICING
WILL CHANGE OR COVERAGE OFFERINGS ON THE REMAINING LINES COULD BE WITHDRAWN ALTOGETHER.
POLICIES WILL BE MADE AVAILABLE AFTER OCTOBER 1, 2019 AND CAN BE VIEWED AND PRINTED ONLINE ONCE PAYMENT IS RECEIVED.
ELECTRONIC POLICES ARE ALSO AVAILABLE AFTER OCTOBER 1, 2019 UPON REQUEST. HARD COPY POLICIES CAN ALSO BE PROVIDED UPON
REQUEST IN LATE OCTOBER 2019.
Please see reverse side for a copy of our Premium Installment Plan and Penalty Policy.
5
PINK COPY - Please return with your payment WHITE COPY - For your records
CQ ,�pGUE iic'�j°m
t
o � _
n
DEPARTMENT OF
INSURANCE SERVICES
PREMIUM SUMMARY FOR 2019 - 2020
South Miami Community Redevelopment Agency
FMIT 0969
fCovera e Deductible / SIR Limit
General/Professional Liability $0 $5,000,000
Automobile Liability $0 $1,000,000
Property $1,000 $474,300
GRAND TOTAL PREMIUM
Premium
$10,885
$190
$4,496
$15,571
L