HomeMy WebLinkAboutCity Council Committees - Economic Development Corporation - 08/07/1986 (3) CITY OF KENT
ECONOMIC DEVELOPMENT CORPORATION
August 7, 1986
The regular meeting of the City of Kent Economic Development Corporation was
called to order at 7:35 a.m.
Present: BOARD MEMBERS: Berne Biteman
Walt Ramsey
Steve Dowell , (by telephone conference call )
Steve DiJulio, General Counsel
OFFICERS: Marie Jensen, Secretary of the Board
Also Present: Mike Webby, Assistant to the City Administrator
Jim Hansen, Principal Planner, Planning Dept.
LIABILITY INSURANCE
Webby gave the following review on the insurance for the corporation: The
corporation had purchased full coverage in the amount of $1 ,000,000.00 in
April , 1985 for one year, at a cost of $750.00. This was extended for two
• months to June, 1986 for an additional $620.00, while the Fred S. James
Company was trying to place our coverage.
We purchased coverage also to extend for three more years, coverage for past
action for $362.00 for the three-year period. Webby pointed out that this did
not include the two-month period for May and June and that three years
extension for this period for past action would cost an additional $520.00.
He explained that we were buying "pieces" to avoid having a "hole" in our
coverage.
Webby further noted that the Fred S. James Company had advised that the City
had errored in figures given on our insurance application. We gave the City
budget figures instead of the corporation budget figures. He felt that upon
reapplying with proper figures it would not be as difficult to have an
insurance rate quoted. He explained for Biteman that Kent's renewal was one
of the last to come up and by the time ours was due the placement problems had
developed.
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DiJulio pointed out that the corporation had not taken any action from April
to June in 1986 and that we had coverage for all prior bond issues. No action
was taken.
COMMUNITY PROFILE FUNDING
Jim Hansen stated that the Planning Department is requesting $2,495.00 to have
1 ,000 copies of Kent's Community Profile Brochure printed. He noted that this
had previously been funded by the Planning Department but was not budgeted for
1986. The profile has been a popular item at National League of Cities,
Association of Washington Cities, etc. and favorable feedback has been
received from various cities across the country. It was agreed that this was
a good price for this quality brochure consisting of 26 pages.
Dowell asked if a fee could be charged for this publication. Hansen noted
that this could be considered for consultants but that the overall purpose of
the brochure was to give factual information and to enhance Kent's image.
Biteman moved to approve the appropriation of $2,495.00 to fund the printing
of the Community Profile Brochure. Ramsey seconded and the motion carried.
MINUTES
Biteman moved to approve the minutes of the regular meeting of July 3, 1986.
Dowell seconded and the motion carried.
There was no further business to discuss and the meeting adjourned at 8:00 a.m.
Marie Jensen
Secretary of the Board
0024C-01C
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