The City of McPherson sustained significant damage from the hail storm on May 29, 2018. All repairs have been made to vehicles. However, a number of structures also sustained damage for a total amount of $389,768.58. With depreciation, the actual cash value of the repairs is $347,917.92.
The City has a deductible of $50,000.00 and has already received a check from Travelers for $297,917.92 for the ACV value minus the deductible. To get the work repaired, the City Commission should consider authorizing an amount not to exceed the total Recoverable Cash Value of $389,768.58.
It is possible that some of the aggregate cost would exceed that amount after actual bids are received. If there are adjustments, they will be brought to a future meeting for additional spending authority.