Port Royal, SC Envisions New Seafood Facility With $1.8M Insurance Settlement
January 12, 2016 | 1 min to read
Just before Christmas, Port Royal finance manager Chris Canaday walked into Town Hall with a check made out to the town for $1.8 million.
The insurance settlement from the seafood market fire had finally arrived, but the windfall brought questions about who controls the money and about plans to rebuild. The property is owned by the S.C. Ports Authority, but the town was required to hold insurance on the buildings through a licensing agreement.
The town is seeking answers about what it might be entitled to for costs incurred to establish a temporary seafood operation in an adjacent building. The money — a check from the state Insurance Reserve Fund for damage to the market and an adjacent warehouse — is currently in an escrow account.
To read the rest of the story, please go to: Beaufort Gazette