The Pasco County School Board has approved the purchase of an insurance policy to cover any potential losses during the construction of a new K-8 school planned at 2272 Skybrooke Blvd., in Lutz.
The board has approved a not-to-exceed expenditure of $307,804.57 for Builder’s Risk Insurance, a type of property insurance coverage that is normally purchased by the owner of a building that’s under construction.
The insurance is being provided by Brown & Brown, an insurance company that provides public sector insurance coverage to more than 200 Florida entities.
The policy will cover the replacement costs for the structure, as well as the materials and contents stored within the building, resulting from fire, wind damage, theft and vandalism.
The school district secures this type of insurance on all its major capital projects.
The board approved the renewal of an umbrella Builders Risk policy with the Public Risk Insurance Agency, during its Oct. 17 meeting, but the scope of this project requires a stand-alone policy, according to the board’s Jan. 16 agenda packet.
The insurance was purchased as part of the board’s consent agenda. The consent agenda bundles several items together, which are approved without discussion in a single vote.
The policy covers a total of $57,414,697, including $50,351,121 in covered property and $7,063,576 in soft costs.
The school board approved construction of the new K-8 board during its Oct. 17 meeting, and issued a notice to proceed.
A presentation made during that meeting indicated the school is being built on a 22-acre site and will consist of a single building, with two stories and three stories.
It also will have an enclosed gymnasium, a track, a multi-purpose playfield, basketball courts and a courtyard that can be used for outdoor learning.
The school is expected to have a robust music program, as well as an arts lab and a science lab.
It is intended to relieve crowding in area schools, but also will have some spaces for magnet students.
The project is scheduled for substantial completion as of April 24, 2025, with final completion slated for June 2, 2025, according to materials contained in the board’s Oct. 17 agenda packet.
Published January 24, 2024