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UTILITY BOARD ENDORSES PROPOSED LOCATION OF ASSISTED LIVING FACILITY; APPROVES RENEWAL OF INSURANCES

09/24/2009 ~ At their regular meeting on Wednesday, September 23rd, the Utility Board approved resolution #766 endorsing the proposed location of an Assisted Living Facility (ALF) at the site of the decommissioned Key West Diesel Plant near the Truman Waterfront. Keys Energy Services (KEYS) owns the 47,240 square foot tract of property that contains a fully operational Electrical Substation, a brick building housing a decommissioned diesel plant, and several out buildings.

On August 11, 2004, the Utility Board approved resolution #721, which set aside the proposed piece of property for a period of five years as development of the ALF project commenced and a 99-year lease was attained from the City of Key West for their portion of the Truman waterfront property, which would hold the majority of the ALF project.

On October 7, 2008, the City Commission of the City of Key West approved resolution # 08-279 which granted the 99-year lease for an Assisted Living and Independent Living Facility for senior citizens. KEYS’ Land Use Committee convened on September 1, 2009, to review the renewal of the resolution and to set aside the proposed property for an additional five-years.

Per the resolution, 7,947 square feet of the property will be retained by KEYS to maintain the footprint and surrounding area of the Angela Street Electrical Substation; 24,848 square feet of the property, including the decommissioned Key West Diesel Plant, will be made available for the ALF; and 14,445 square feet will remain a common area for access to both parcels.

In other business, the Board approved the renewal of KEYS’ Excess Liability, Public Officials, Pollution Liability, and Fiduciary insurance for Fiscal Year 2010* at an estimated cost of $163,059.00. Additionally, the Board extended the Property, Boiler, and Machinery Insurance coverage from April 1, 2010 to September 30, 2010, and added the KEYS’ new Second Street Substation to the policy, for an estimated additional premium of $47,865.00. These renewals will ensure the prudent protection of KEYS’ employees and physical assets.

The regular meeting of the Utility Board took place at 5:00 p.m., Wednesday, September 23rd, in the Louis Carbonell Board Room of the William Arnold Service Building, at 1001 James Street, Key West.

*KEYS’ Fiscal Year runs from October 1st to September 30th

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