On December 22, 2025, the Peekskill Common Council held a work session and regular meeting. The agenda included a finance item for insurance renewal, a grant application for invasive species removal, an intermunicipal agreement for snow and ice removal, council liaison reports, and assignment of resolutions. The meeting adjourned to executive session without voting on the resolutions.
December 22nd, 2025. We have a short agenda, and then we'll go to an executive session for discussion of matters concerning the medical, financial, credit, or employment history of a particular person, persons, or corporation, or matters leading to the appointment, employment, promotion, demotion, discipline, suspension, dismissal, or removal of a particular person, persons, or corporation. So at this time I'm going to turn it over to our city manager. So I welcome. Good evening, Mayor and City Council. Good evening. Good evening. So we had presented this last week with the insurance company. The broker was here, John Riley. And so this is just a quick summary of it again because there is a resolution following this on the agenda for tonight. It's from December 31st of 25 to December 31st of 2026. And it basically covers pretty much all of our insurances except for workers' compensation. So we have commercial property, different categories of general liability, including employment, public officials, law enforcement, things like that. We have a commercial crime policy, a cyber liability policy, flood active assailant, and then there is a broker fee for a lion. That broker fee did not change since last year. It's the same amount. And that is mostly due to the fact that in the spring when we had renewed the coverage on the new company, Obsidian, they had done a rate lock for the city for two years. So we're really not seeing any change. And that also kind of comes with the caveat that like we do not see any, it's good and it's bad. Um we're not seeing the effect of any of the recent activity with lawsuits, things like that. They're not affecting this, but it's something to keep in mind moving forward because that most likely will affect next year's coverages. Um other than that, uh, we have a couple of the small policies went up. Um our cyber liability policy, it went up 11.82 percent. That's again just due to more risk that is out there in those areas, so they've increased the coverage, and the flood policy went up about 15 percent. It's now 10,252, and active assailant went up 10 percent. Again, the overall total is only a one percent because those coverages are such small amounts in comparison to the total. Are there any questions? Tony, when do we go out again for 2027? When we when will we start seeing numbers for 2027? So typically we reach out to the insurance company in October. We should probably would do that a little earlier this year to give us a little more time to take a look at that. So we'll see that by by budget by October budget. Right. That's what I'm thinking. We can start talking to the insurance company. Maybe I'll reach out even in August just to say how early can we begin the process. Right. And it gives more time to give the companies more information that might actually help us rate-wise, so we probably will reach out a little earlier next time. Thank you so much. I don't know that they will quote until toward the end of the year, regardless. So I think that they'll wait to collect as much information for the year before they come to a final quote. Right, so that's true. We did discuss reaching out earlier with them, but they might hold off a little bit on the final quote. Maybe a little bit helps. Thanks. What is uh 10 South Water Street? Um what I'm not sure where you're seeing that. What is the property the flood insurance is covering 10 South Water Street? Is that a parking lot or what is that? Oh do you know what that is, Matt?