July 10, 2023 Work Session

Draft

Mayor James M. Jaroszynski
Trustee Anthony Cavallaro
Trustee Timothy Dunn
Trustee Alan Gustafson, Jr.
Trustee Annette Miller

Cindy Capestrani, Village Clerk
Paula Spunaugle, Treasurer

The work session meeting of the Village of Falconer Mayor and Board of Trustees was held on Monday, July 10, 2023 at 5:30 P.M. in the Firemen’s Exempt Hall with Mayor James Jaroszynski presiding. 

Pledge of Allegiance & Roll:

Trustee Gustafson, Trustee Dunn, Trustee Cavallaro, Trustee Miller and Mayor Jaroszynski were all present.

Visitors

– Eric Tichy – Post Journal              

PRIVILEGE OF THE FLOOR

VISITORS ARE ALLOWED A MAXIMUM OF THREE (3) MINUTES TO ADDRESS THE BOARD. THIS IS NOT THE TIME OR PLACE FOR A DEBATE. IT IS A MEETING FOR THE BOARD TO CONDUCT VILLAGE BUSINESS. ALL COMPLAINTS/REQUESTS WILL BE CONSIDERED AND REVIEWED AT A LATER TIME.

Review of Insurance Policies for Village Properties

Mayor Jaroszynski started the work session stating that due to the fact that village property insurance rates were going up substantially, he felt the need to go over the options that were presented to Treasurer Spunaugle from Hannah Hayes of Great Lakes Insurance.

Treasurer Spunaugle commented that due to high replacement costs, our rate has increased by approximately 18%. The Village properties are currently valued extremely low so if we continue with the exiting coverage, option 1, there would be a 110% margin clause added which would cap a loss by applying a margin clause percentage to the building value.  Option 2 would cover 90% replacement cost, and Option 3 at 100%.

The board decided to select option #2 but asked Treasurer Spunaugle to get a few other quotes for comparison and find out if we could cancel the existing policy if a much less alternative was found. It was also suggested that the village get an updated property appraisal done in the next year as the last appraisal was done over 10 years ago.

Trustee Dunn made a motion, seconded by Trustee Gustafson to adjourn the work session at 5:54 pm.  Ayes: All, Nays: None.  Carried.

Respectfully submitted,
Cindy Capestrani, Village Clerk