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PACIF

Ferrisburgh, VT: (Jul-30-07) The town of Ferrisburgh brought a lawsuit against PACIF, an insurance company, over losses incurred after the town-owned former Grange Hall was destroyed by an arson fire on Feb. 15, 2005. The hall was scheduled to be renovated into a town office building and community center. The town had earlier received about $1.03 million from PACIF, the insurance company that underwrote the project and was affiliated with the Vermont League of Cities and Towns, and its co-insurers.

In a recent development reached after more than a year and a half of haggling and delays, an insurance deal was reached that will pay the town another $950,000 for the loss of Grange Hall. Sources claim that the earlier payment was for the value of the existing Route 7 structure, while the additional money goes toward the value of the finished project, including a duplicate Grange building up to modern code. The town will be responsible for other elements of what is now estimated by Middlebury's Bread Loaf Corp. as a $2.87 million project, including a full foundation, new addition to the rear and new front porch. [ADDISON COUNTY INDEPENDENT: ARSON INSURANCE]


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Published on Aug-1-07


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