Granby surprised by $243,000 insurance settlement
July 23, 2008
Christmas may be nearly half a year away, but Granby town officials could just as well be caroling around a tree.
An insurance settlement of $243,748 from excess insurance company RSUI was presented to the town Tuesday via Town Attorney Scott Krob.
The check, made out to the town of “Grandby,” is being awarded to the town for damaged office property and interruption of town business in the wake of the 2004 bulldozer attack.
The note marks the end to a lengthy squabble between insurance carriers and the town for replacement of the destroyed Town Hall.
The recent settlement brings the total insurance payoff up to $1.96 million between RSUI and the town’s former primary insurance agency, Colorado Intergovernmental Risk Sharing Agency, or CIRSA.
The figure exceeds what the town had originally set out to secure when CIRSA offered for $800,000 for the former building at a time the town sought $1.8 million. To settle the score, an umpire was called in and the claim resulted in $1.2 million for the building alone.
Meanwhile, with the help of a $2.9 million lease-purchase, the town built a new $3.3 million town hall with a police department and unfinished basement.
With pressure applied by a pending town lawsuit, a subsequent settlement was reached for coverage of personal town property ” the final piece in the dispute ” and a check has been promised for nearly a quarter-million dollars.
Krob credited town staff members Cindy Seader, Sharon Spurlin and Deb Hess for staying on top of the insurance issue on behalf of the town of Granby. Town officials say the amount was more than anticipated.
“By holding out, we got more from the insurance company than what they wanted to give us originally,” said the town’s Finance Director Spurlin. She credits Deputy Clerk/Deputy Treasurer Seader for her “tenacity,” picking up the ball and not letting it drop when all documents needed to be re-sent in the fourth year.
Town board members exchanged ideas about what the town could do with the money, such as a down payment on former fire station property next to the town shop. Or, another option, according to Spurlin, would be to pay down the lease proceed on the new Town Hall.
“When you run a town, there are all kinds of places the money needs to go,” she said. “It’s the board’s pleasure how they want to use those monies now.”
In the meantime, the check will be deposited into an existing Town Hall replacement fund until a decision is made.
” Tonya Bina can be reached at 887-3334 ext. 19603 or e-mail email@example.com.