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Page 2 <br />CITY OF SANTA ANA <br />January 10, 2020 <br />McLarens File 002.047407.00.J <br />2. An alternative method of settling the claim would be to pay all outstanding bills to date as <br />previously mentioned above and pay based on the actual cash value (ACV( of the repairs. The <br />ACV would be the total of the projected repairs less depreciation which is $114,839.85 <br />Attached is a worksheet showing the ACV avenue to settle the claim. Please review this and advise if you <br />would prefer to settle the claim based on the numbers at hand with the ACV calculation for repairs or <br />alternatively if you would like to accept the partial payment for the Emergency Services and Abatement <br />and associated environmental consultants plus the longer -term construction on a like kind and quality <br />basis. <br />We are prepared to work with you on either approach and will await your instructions as to how best to <br />move forward. If you have any questions, please feel free to call. <br />Very truly yours, <br />ryhJ I �y1 .. <br />Jim McGovern <br />Assistant Vice President <br />Executive General Adjuster 15010026 <br />JM/ct <br />ENCLOSURES: <br />1. Worksheet with ACV Calculation <br />CC: <br />1. Robert Frey <br />joMcLaTms <br />rl- • <br />