New insurance plan to save Sauk Village $27,000

2013-03-26T23:15:00Z New insurance plan to save Sauk Village $27,000Bob Moulesong Times Correspondent
March 26, 2013 11:15 pm  • 

SAUK VILLAGE | Village President David Hanks and the Sauk Village Board approved a motion to accept a new property and casualty insurance program to save the village $27,000 annually.

Owens Group, the new broker of record for the village, brought the new plan to the board during Tuesday night’s special meeting before the regular board meeting. Board members reviewed the policy with Owens Group for approximately 45 minutes.

The company Underwrite Safety & Claims will be the third-party administrator for the village. It will handle the processing of all claims and all administrative work for the village regarding insurance and risk management.

The old insurance policy expired at midnight Tuesday.

“This is another example of our administration saving the taxpayers money,” Hanks said. “We want to thank the Owens Group for putting together a package that costs less while providing us with the insurance and risk management we need.”

The board was also able to avoid using taxpayer dollars to pay interest on several general obligation bonds. Members passed a series of motions to abate the tax for 2002A, 2002B, 2008, and 2009 series bonds. In each case, the board cited alternative revenue sources that would be able to cover the interest.

Russo Properties Inc. was approved by the board to renew its application for a Class 6B Real Estate Assessment classification. The renewal will allow Russo to apply for a Class 6B tax incentive.

Hanks was given the authority to sign off on the village Public Water Supply Loan by the board.

The loan application must be signed and turned in to the IEPA by April 15. This does guarantee that the IEPA will grant the loan. Finance Director Mohan Rao told the board the IEPA wants to see the results of an ongoing audit, plus they want to see a balanced budget.

The loan application is for $5 million. It would cover the work needed to purchase and install three permanent air strippers on the three village wells. The IEPA has ordered the village to use air strippers for the three wells, even though the village plans to move forward with plans to obtain Lake Michigan water.

The village received four bids for the 2013 Community Development Block Grant road repair project. The bids ranged in price from $264,000 to $298,000. The opened bids were turned over to Village Engineer Jim Czarnik for review. Czarnik will report back at the next board meeting with a recommendation.

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