City Council

8G.Finance – Approve Annual Premium Renewal of Property Insurance\nCoverage and Authorize Finance Director to Execute the Insurance\nBinder. Expenditure: Not-to-Exceed $1,029,004.16\n(Non-General Fund).\nRecommendation of the Finance Director that City Council:\n1. Approve annual premium renewal of property insurance coverage\nfrom Alliant Property Insurance Program (APIP) through Alliant\nInsurance Services Inc. of Irvine, CA, in the amount of\n$935,458.33, plus a 10% contingency fee, for a total not-to-exceed\namount of $1,029,004.16, for a one-year (1) period beginning July\n1, 2026, and ending July 1, 2027; and\n2. Authorize Finance Director to execute the insurance binder.