County to receive over $1.1 million from grandstand insurance claim
Lincoln County will receive at least $1,155,000 in insurance money toward the construction of a new structure to replace the grandstand at the fairgrounds. The grandstand was razed in July following significant storm damage.
"On Public Property we feel that figure is low," said committee chairman Bill Zeitz. "We're going to try to get some other estimates to try to bring that figure up."
Zeitz pointed out that a study from 10 years ago placed the replacement value of the grandstand at $2 million.
Under the current offer from the insurance company, the county is guaranteed a $318,252 settlement, whether or not they replace the grandstand. Of that amount, $87,252 is reimbursement for the costs of demolition, debris cleanup and rental of portable bleachers for the 2012 Lincoln County Fair. The county will only receive the additional, currently-offered $924,000 if a replacement structure is under construction within six months.
Once the county accepts the insurance settlement, the clock starts ticking on building a replacement structure.
"After we sign the contract accepting that, then we have six months to go through the bidding process and break ground," Zeitz said.
The county's efforts to negotiate a higher settlement will delay the process by at the most two months, Zeitz said. The decision on a replacement structure will have to be made quickly and the design and bidding process will need to take place over the winter. To meet the insurance company's timeframe, construction would have to begin next spring.
While Zeitz is hoping to see a higher settlement offer, he's pleased with the starting point.
"I think we'll make out pretty well," he said. "All things to this point worked out well for the county and the taxpayers."
The future management of the fairgrounds is yet to be decided. The County Board has authorized the creation of a Expo Center Authority to oversee and promote the fairgrounds, but that body is still in the organization process.
Agra Industries of Merrill has expressed an interest in contributing toward a new arena structure and has provided plans for a proposed project. The extent of Agra's involvement in the project has not yet been determined.
"On Public Property we feel that figure is low," said committee chairman Bill Zeitz. "We're going to try to get some other estimates to try to bring that figure up."
Zeitz pointed out that a study from 10 years ago placed the replacement value of the grandstand at $2 million.
Under the current offer from the insurance company, the county is guaranteed a $318,252 settlement, whether or not they replace the grandstand. Of that amount, $87,252 is reimbursement for the costs of demolition, debris cleanup and rental of portable bleachers for the 2012 Lincoln County Fair. The county will only receive the additional, currently-offered $924,000 if a replacement structure is under construction within six months.
Once the county accepts the insurance settlement, the clock starts ticking on building a replacement structure.
"After we sign the contract accepting that, then we have six months to go through the bidding process and break ground," Zeitz said.
The county's efforts to negotiate a higher settlement will delay the process by at the most two months, Zeitz said. The decision on a replacement structure will have to be made quickly and the design and bidding process will need to take place over the winter. To meet the insurance company's timeframe, construction would have to begin next spring.
While Zeitz is hoping to see a higher settlement offer, he's pleased with the starting point.
"I think we'll make out pretty well," he said. "All things to this point worked out well for the county and the taxpayers."
The future management of the fairgrounds is yet to be decided. The County Board has authorized the creation of a Expo Center Authority to oversee and promote the fairgrounds, but that body is still in the organization process.
Agra Industries of Merrill has expressed an interest in contributing toward a new arena structure and has provided plans for a proposed project. The extent of Agra's involvement in the project has not yet been determined.
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