2025/10/01 Council Agenda Packet

City Council Agenda Item Cover Sheet Project title: Authorize Mayor to Sign Settlement Agreement and Site Release with Century Indemnity Company Council Bill # interoffice use Consideration: Approve Settlement Agreement and Site Release Project: Settlement of Insurance Coverage Claim Other Parties: Century Indemnity Company (Chubb) Location: GTS Parcel Preceding action: Settlement with Safety National Casualty Corporation (2020) Fund: None Agenda dates requested: Briefing Proposed action Consent 10/01/25 Action Ordinance Public hearing Yes x No Budget amendment: Yes x No PowerPoint presentation: Yes x No Attachments: Settlement Agreement Department(s) involved: Legal Contact person: Tim Benedict Phone number: 425.257.8669 Email: TBenedict@everettwa.gov Initialed by: DH Department head Administration Council President Fiscal summary statement: None Project summary statement: This item concerns the GTS parcel, which is north of the Riverfront landfill site on the north side of 36th Street. Over the years, the City has spent about $950,000 in clean-up of the parcel. The City has claimed against two insurers related to this clean-up. The City Council approved a settlement in 2020 with the first insurer, Safety National, in the amount of $500,000. After extensive negotiations, the other insurer (Century Indemnity Company/Chubb) has offered to pay $199,000 for the City to release the City’s insurance claim regarding the GTS parcel under its policy. The form of settlement agreement with Century Indemnity Company is substantially the same as the 2020 settlement agreement with Safety National. Recommendation (exact action requested of Council): Authorize Mayor to sign Settlement Agreement and Site Release with Century Indemnity Company in the form substantially as provided.