Thumbnail photo by Gavin Van Alstine
Crescent City Harbor commissioners took Sandy Moreno’s advice and decided not to renew property insurance that covers damage to the docks in the marina from fire and collision.
Moreno, who became the Harbor District’s financial advisor in April, urged commissioners to hold off on renewing the Commercial Property — Inner Boat Basin Docks portion of their coverage with Redwood Leavitt Insurance Agency. She proposed taking the $181,500 premium it would have cost, putting $50,000 of it toward maintenance and using the remainder to keep the Harbor District solvent through the fiscal year.
“I’m giving you guys a year to get your shit together and if we do this one thing it does that,” she said Wednesday. “We will get through a year and if revenue generation and our cost savings and all the things we’re looking at doing — you will be in a really good place come July 1 of next year.”
Continue reading Harbor District Board Drops Property Insurance On Marina Docks To Save $181,500


