Six months ago, historic “Eola Girl”, the landmark fountain of Lake Eola, was struck by lightning and put into a state of disrepair. Since then, the city went from scrambling to figure out how to fund repairs, to discovering two policies including a fine arts insurance policy protects the condition of the fountain, but comes with a potentially costly deductible and some issues over a settlement.
Before the lightning strike, the Lake Eola Fountain had already been in a state of disrepair, and Orlando officials are battling with Ace Insurance for an agreement. It is expected that a settlement will occur by springtime.
The fountain, which has been a city symbol for nearly sixty years, adorns city street signs and the Orlando city seal. A beautiful and unique icon, locals embrace the fountain as a beacon of sorts. The lightning strike hit the guts of the machinery and put it out of order.
Repairs for the fountain are estimated at a cost of $2.3 million. Each of the two insurance policies pays more than $1 million, but while one policy has a $1,000 deductible, the other has a $500,000 deductible.
In the midst of a number of budget cuts occurring across Orlando and central Florida, there is debate over financial priorities and city budgeting, and where the fountain repairs fit in on the priority list.
Lake Eola’s fountain was completed in 1957 to commemorate the 100 year anniversary of the naming of Orlando and was named the “Centennial Fountain.” The Centennial Fountain replaced the original fountain that had been installed in 1912 just south of the deepest area of the lake, which was naturally created by a sinkhole.
Eola Park is nestled within an urban community in the heart of downtown Orlando, where many residents desire an active city life.
The VUE at Lake Eola overlooks Lake Eola and its surrounding park, and with a close proximity to a future high-speed railway station, living at The VUE provides the ultimate in downtown luxury living. The VUE is a luxury urban living high rise, nestled along the edge of Lake Eola near downtown Orlando. This 36-story, 375-unit luxury condo high rise is walking distance from a wide variety of downtown Orlando restaurants and bars.
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