Item Description:
title
Receive $400,000 from Thrivent Financial for Lutherans for the 625 Building
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Resolution:
body
BE IT RESOLVED, that the Chair of the Board be authorized to approve receipt of $400,000 and execute a settlement agreement with Thrivent Financial for Lutherans in resolution of a claim related to the condition of the 625 Building.
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Background:
The county purchased the building located at 625 4th Avenue South (“625 Building”) from Thrivent Financial for Lutherans (“Thrivent”) in 2018. The county took possession of the 625 Building in 2020 and corrected water intrusion issues in the building. Thrivent is reimbursing the county for a portion of that cost.
Current Request:
Approval of receipt of $400,000 from Thrivent Financial for Lutherans for reimbursement of water infiltration work is requested.
Impact/Outcomes:
This action will reimburse the county for work completed at the 625 Building.
recommendation
Recommendation from County Administrator: Recommend Approval