It was noted that Pam, when asking FMIT for a quotation DID NOT INCLUDE THE ACTUAL LIMIT OF INSURANCE ON THE SCHOOL, WHAT VALUATION WAS REQUIRED, INCREASED COST OF CONSTRUCTION IF THERE WAS WINDSTORM AND HURRICANE AND THE DEDUCTIBLES FOR HURRICANE AND ALL OTHER PERILS. I secured and provided this information as received from Superintendent of Schools Rex Mitchell per Joe’s request because it is in my bailiwick, but obviously Stacy Tebo did not see fit to read or provide the information to Pam Tomlinson.
Now, everyone thinks that because Joe and I place something on the blog it is to chastise someone; but if you really read and observe what is being stated, in most cases we have solutions. I do not expect Pam Tomlinson to know anything about insurance so since Stacy supposedly has an MPA, I felt the information would be a learning experience. My book, the Savvy Businessperson’s guide mainly was for Controllers of Companies and Managers whether Municipal or Businesses, but obviously the Town of White Springs Staff thinks they know it all. Unfortunately, they don’t get sued for their mistakes but I can tell you that would not work if the county had a contract requiring specific limits.
Now since the AIG provided coverage for the School Board which was a specific program, it had a far lower cost than buying coverage on the market. Of course, what Pam sent in was a joke because she missed a lot of detail. That $650 a month quoted for the property insurance is a very cheap price and it will assure the county may have all such coverage as they need and require. The Town under their liability coverage does have a sub-limit of either $50,000 or $100,000 Fire Legal Liability coverage coverage which may be endorsed to all risks of direct physical loss or damage subject to exclusions Legal Liability coverage if FMIT would provide it.
But the biggest hurtle is that Spencer Lofton felt he could lease the building for $1.00 and pay no insurance. I gave him a $20,000 low-ball estimate for coverage which the $650 per month at $7,800 is cheep indeed through the AIG. But the problem is that the Town only has a $300,000 limit and the School Board is requiring they be added under the General Liability and Umbrella Liability policies but as you know by my information previously given, higher limits than $300,000 will be required, so the Town will have to purchase an Owners’ Landlords” and Tenants” Liability Policy, including the School District, the School Board etc as Additional Insureds with respect to S.H.E. Even though the Town received a Cheap property insurance offer by the School, the Liability may not be that cheap; but perhaps, some broker will be able to provide insurance for another $7,500-$10,000 at the higher limits which will be required.
But remember also, the Town will be responsible for getting the building up to code and note the huge hurricane deductible under the property, that is something the Town will be responsible for in the event there is further damage. Then there will be Attorney costs because not only will the School Board provide a contractual agreement by an attorney, but it would have to be reviewed by an attorney who knows something, not Karen Hatton who I would not trust to handle this type of thing explicitly because she is a criminal attorney and not a good civil attorney. Then we will have to provide a list of sub-lessees, and make up contracts for each as to what they must be responsible for. And did You see that electric bill?
The reason I have lost ALL RESPECT FOR SPENSER LOFTON AND HAVE NO PROBLEM CALLING HIM AN “N” WORD is due to the fact that I have tried to send him e-mails; have discussed problems with him; and not only I but Helen Miller has tried to assist him but his ego is so damned big he can’t see straight and will do just the opposite of what should be done to cut his nose to spite his face. And as far as I am concerned, Rhett is an “N” also because he certainly does not seem to delve into things as attorneys usually do to come up with facts. The Two instead lie and make up stories continually and then deny that they actually said something which they actually said because they forget what lies they have spewed.
I came from the business world in the 60’s which was a far more difficult time for women to get ahead. And if I would have acted like any of you, I would have been lucky to have been someone’s file clerk.
I am thankful Johnny Bullard has technically placed the kibosh on this because all Lofty did was waste attorney and CPA time and his notes were virtually stupid. The way Rhett Bullard was pushing the lease of S.H.E. I really thought it was Johnny pushing it off on White Springs and obviously I was wrong and owe him an apology (but only for believing this one thing because he has been more than nasty to Joe and I) but obviously he is a lot smarter than Rhett and definitely 1000 times smarter than Lofty.
P.S. Oh Lofty still tells everyone he is still negotiating. He needs to stop wasting everyone’ time because we do not need the expense in White Springs. Furthermore, look how he bragged about investors and there is nary a one. Why would any investor want the School in the manner of condition it is in right now. And like I said any venture capitalist or investor would have to make at least 30% interest and here we have Ego Lofty crying about the property insurance premium for the school which is dirt cheap at $650 a month and asking what law requires him to buy insurance. What a joke the Town Staff and councilors are. It makes people like Joe and I absolutely crazy watching them! That is why we love the Commissioners and the people in Jasper, who actually have minds and use them. I don’t know what has happened to White Springs and cannot believe it could have been worse than when I moved here; but it is.
Karin for the blog