Mexico Beach council will return to Parker House negotiations

Published: Thursday, April 3, 2014 at 09:43 AM.

At Monday’s meeting, those numbers came out.

Cathey Construction of Mexico Beach estimated a new building constructed would total more than $1.1 million.

Monday’s meeting brought together the council with Brian Cathey, owner of Cathey Construction and Moniz to look over the insurance policy and identify additional money that might be brought into the pot.

“We need to decide what to do about the offer,” said Councilman and Mayor Pro Tempore Jack Mullen. “Do we take the offer to go to appraisal because we think there’s more money that the insurance company isn’t compensating us?”

Meanwhile, the city has received a letter from the insurance company to inquire why it had not responded to the settlement offer and asked city officials to accept or explain why they wouldn’t be accepting.

If the city decided to negotiate they could go to an appraisal stage where two court-appointed appraisers would determine a value on the property to be compared with the appraisal of the insurance company. The two appraisals that were the closest would be the final settlement offer.

Moniz said that after looking over the policy, the settlement should have totaled at least $1.5 million which would have been covered under replacement costs.



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