HomeMy WebLinkAbout6C(11) Confidential Settlement Agreement(C � ►\�
Community & Economic Development n5,n
1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235-
9021
To: Redevelopment missiork
From: Ann Kolata
Subject: Approval of Confidential Settlement Agreement and Release
Date: October 28, 2010
Our environmental attorneys have negotiated a Confidential Settlement Agreement and Release with
Affiliated FM Insurance Company related to environmental claims made by the Commission
concerning the former Oliver Plow property. The insurance company provided coverage to the
former owners but their coverage picked up on claims above the amount of our judgment. Because
of this, Affiliated FM is willing to pay the Commission and the City of South Bend a small amount
that has been approved by our Legal Department to settle this claim. There is still one remaining
claim against another insurer. This agreement only covers Affiliated FM Insurance Company. I'm
asking that you approve this Settlement.
Please contact me at 235 -9374 or akolata(a,southbendin.gov if you have any questions.
Commission memo - Affiliated FM Insurance october 28 2010.doc What We Do Today Makes A
Difference!