HomeMy WebLinkAboutAgenda Bill 3.A-Lttr 04/05/2004MAR. 31, 2004 4.5OPM DELCO BUILDERS W.9099 P. 2
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March 3.1, 2004
Mr. Rick Rosenbaum
Delco Builders & Developers
2,552 Stanwell Drive Suite 203
Concord, CA 94520
Re: Stratford Park/Gatti kanch project
Petaluma, CA
Deax Hick:
We have previously submitted underwriting criteria to the insurance marketplace based
on the projeet.deser'iption and unit density per the approved PUD development plan. This
plan for a 92 unit project equally divided among single family homes and attached
homes. These attached homes consist of approximately 17 separate buildings of between
2 and 3 units each. We have already received one quotation and;are anticipating another
by April 7, 2004. These two offers are the only ones we expeet.to receive.
The insurance markeOs extremely limited when bui lding attached housing. In general,
the lower the building density (units building) the more favorable the underwriting
response with "4 units or less" the,next most readily acceptable classification compared
to single family units, The next category, of 510 10 touts per building can significantly
increase the premium charge, deductible amount and limit availability.
If it is deemed.necessary to resubmit the project with the building density being close to
double the original (6- plexes versus 2 and 3- plexes) it will negiitivelyimpact the
underwriting results we have obtained and expect to receive shortly. Bath offers will need
to be returned for additional underwriting which will take a minimum of two to three
weeks to deter ine%whether coverage is available,and at what additional cost. I would
expect that such a change wil) significantly increase,the difficulty of obtaining the
insurance.
If you have any questions or desire further input feel free to call,
Best regards,
Russell Queen
25 Odnda Way, Ste, 308, Orfnda, CA 94553-4402
(925) 253-9660,• (600) 464.0077 • ( 925) 253 -3109 Fax
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