1/22/2025 PEMBINA CITY COUNCIL SPECIAL MEETING MINUTES
Date: January 22, 2025
Council Members Present: Mayor Fitzgerald, Watts, Snitker, Norby, Needham, A Huttunen
Absent: Sherri Carattini
Guests: Stoiber, City Auditor; R Fleming, City Attorney
Special meeting called to order at 6:00pm by Mayor Fitzgerald
Fleming explained insurance coverage—
- City buildings are not valued to 80% and that means claim on professional building would reduce the payout to $2600 vs if it was valued to full, the insurance would pay $3100 towards the claim
- All buildings in town are undervalued and need to be within 20% of actual replacement value
- NDIRF wants to quote on replacement value on every building
- If City remains undervalued on buildings, then NDIRF will only pay a % of the claim
Options:
- Leave it at the current valuations knowing the buildings are not covered to the extent they need to be
- Have NDIRF come in and re-evaluate and supply new quote for replacement value
- Have Kodainsurance come in and re-evaluate and supply new quote for replacement value
It all comes down to insuring for replacement or cash value.
A Huttunen made motion to have NDRIF re-evaluate the professional building for full replacement value ($669,000) and accept that amount for the processing of the current claim, and have NDRIF re-evaluate all City owned buildings and quote what the cost of the insurance will be. 2nd by Snitker. All ayes. Motion Carries.
Motion to adjourn at 6:20pm by A Huttunen, 2nd by Norby.
By Mayor Fitzgerald
Attested to: Stoiber, City Auditor
