Troy to see a lower ISO rate in near future
Published 4:00 am Wednesday, March 11, 2015
The City of Troy’s insurance rating improved, meaning a chance for lower insurance rates for its residents.
Mayor Jason Reeves made the announcement about the ISO rating change prior to the conclusion of Tuesday’s city’s council meeting.
“Effective June1 the city’s ISO rating will go from a four to a three,” Reeves said.
The ratings are scored from 1 to 10, with lower numbers being preferred. The city’s improved rating is due in part to the city’s investment in its fire services and emergency response systems.
“The money spent on the water trucks, the CAD and the electronics have been well used,” Reeves said. “You’re basically graded on three sections of that, your fire response, your water supply and your communication systems.”
Reeves said city officials felt like they could be scored closer to a 2 and hope to get re-evaluated.
“We feel like there are a few things we can do to get reevaluated to a 2,” Reeves said. “We are very, very close to a 2.”
Also on Tuesday, the council held a public hearing to consider the rezoning of the property located in the 600 block of South George Wallace Drive. No one spoke up against the plan, so the property was rezoned from an R2 low-density residential to C4 highway commercial. The property is owned by Dr. Allen Dunn. It is currently unclear what Dunn plans to do with the plat of land.
Council members also rejected bids for the purchase of a new recycling truck, due to a clerical error in the bids.
“They will resubmit those bids,” Reeves said. “We will get it sent back out. The clerk’s office will take care of it tomorrow.”
Council members also approved a reimbursement resolution to provide funding for the electric metering system while the city waits on a bond issue.
“You awarded the bid on the electric meter system that we are putting in a while back,” Reeves said. “We will fund that entire process through a bond issue, but until that time there will be expenses related to that issue.”
The council also approved a $2 million line of credit with First National Bank for the city.
“As you know, we got nine responses from the RFP on the bond issue, and we should be moving on that in the next one or two months so that will give us adequate time to respond to that,” Reeves said. “This resolution just extends the period.”