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MUNICIPAL ORDER NO. 1928
A MUNICIPAL ORDER APPROVING AND AUTHORIZING THE EXECUTION OF
CONSENT TO CASUALTY INSURANCE RENEWAL WITH THE COLUMBIA
CLUB, INC., A KENTUCKY NON-PROFIT CORPORATION
WHEREAS, pursuant to a Memorandum of Understanding dated April 14, 2014, (the "Agreement")
by and between the City of Paducah, Kentucky (the "City") and The Columbia Club, Inc., a Kentucky non-
profit corporation, (the "Developer"), the City conditionally conveyed the real estate located at 510-514
Broadway (the "Property"), in Paducah, McCracken, Kentucky, upon which is situated the Columbia Theatre
(the "Theater") to the Developer to enable the Developer to make certain renovations to the Theater and to
provide for the Developer's eligibility for a Kentucky Brownfield Redevelopment Grant; and
WHEREAS, under the Agreement the City agreed to continue to insure the Property against loss from
fire, lightening, windstorm, explosion, tornado and such other risks as designated by the City to the extent of
the full insurable value of the Property for a period of two (2) year from the execution of the Agreement;
provided that such insurance coverage is reasonably available to the City. Further, the City agreed to extend
the provision of casualty insurance beyond the expiration of this initial 2 -year period but only upon the prior
written consent and agreement of the City, in its sole discretion.
WHEREAS, it is beneficial for the City to approve and authorize the extension of the aforesaid
casualty insurance and to execute the instrument entitled "Consent to Casualty Insurance Renewal," with
regard to such matter as is in furtherance of its public project to encourage the rehabilitation and
revitalization of the City downtown area.
NOW, THEREFORE, IT IS HEREBY ORDERED as follows:
Section 1. Authorization. The Board of Commissioners of the City of Paducah hereby
approves and the Mayor of the City of Paducah, Kentucky, is hereby authorized and directed to
execute the Consent To Casualty Insurance Renewal in substantially the form attached hereto as
Exhibit A and made part hereof
Section 2. Effective Date. This Order shall be in full force and effect on and after the date as
approved by the Board of Commissioners of the City of
ATTEST:
City Clerk, Tammara Sanderson
Adopted by the Board of Commissioners, August 23, 2016
Recorded by City Clerk, August 23, 2016
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