"DONE DEAL" Not even close Pedro
Apparently DONO,LLC, the developer of the Stadium that was thrown off the job last week had a "Builder Risk Policy " for insurance during the construction of the stadium. Apparently that policy remained in effect while the builder was operating on the site. A Builders Risk policy, according to sources, needs to be renewed annually and the policy terminates when construction is complete or the builder stops building.
Apparently when DONO and Centerplan were thrown off the stadium project, the Insurance policy lapsed. There is presently no Property and Casualty Insurance in effect on the property insurance. The liability insurance on the property is questionable as to whether that would be honored if a claim were to be made.
This the height of incompetence that no one on the Mayor's appointed Hartford Stadium Authority, not even Development Services or the Chief Operating Officer or the City's Risk Manager, or even the Mayor himself ever thought about letting the insurance coverage on a $65 million dollar project lapse. And before you say "what could happen at the stadium?", imagine the cost of a dirt bike or ATV getting inside and tearing up the field or a broken pipe flooding the locker rooms or luxury suites
At the very least, the entire Stadium Authority needs to step aside and new members that know something about construction and why they are there need to be found. If the Authority members won't step aside. they need to be replaced by the Mayor and the Hartford City Council.
Enough is enough or do we enjoy being the laughing stock of the region and the State because of a Stadium project being run by fools. In my June 3rd posting, I raised a couple of points that were critical to a construction project. I wrote "Typically on a construction project someone is monitoring, and enforcing all relevant requirements. Is your licensing up to date and current? Do they have copies of you current license? Is your liability insurance up to date and current? Do they have copies of your current insurance certificates? Is any required letter of credit or bond up to date? Do they have current copies?" You can read that complete posting here
I guess the crystal ball was working that day, but this a basic concept and someone on the Stadium Authority or at City Hall should have known better. At the risk of saying "I told you so", shouldn't the City's COO have been ahead of the curve on this and have followed up as to what relevant steps needed to be taken before the drastic step of throwing the developer off the project?
This is just lunacy considering once again the huge amount of salaries we expend on incompetence at Hartford City Hall, and get very little in return. If I Charles Matthews and the rest of the Hartford Stadium Authority had one shred of decency, they would be tendering their resignations immediately.
A complete recording of the Insurance lapse discussion will be posted to the blog shortly so you can hear the discussion for yourselves.