The Charleston City Council will approve a three-year contract with Industrial Appraisal Company at tonight’s city council meeting.

Having the appraisal done will protect the city from over-insuring or under-insuring city properties, City Manager Scott Smith said.

This is to find the current value of city properties to safeguard its assets, according to City Clerk Deborah Muller.

A number of significant projects have progressed in Charleston’s properties in the past few years, Smith said.

Therefore the city wants to be properly protected from any accidents.

The appraisal is not necessarily going to lower the insurance rate of the city, which is currently around $197,000 for liability insurance, Smith said.

Nearly 50 structures are being appraised in Charleston at this time.

IAC has worked with Taylorville, White County and in school districts around the Coles County area, according to employee Jim Karagianis.

The company currently works with Bushue Human Resources Inc., which is an insurance consulting company.

A fire in 2003 that caused $500,000 worth of damage to City Hall highlighted the city’s need to have its property values updated, Smith said.

The insurance matter has been ongoing since the fire occurred and values will be figured out in the fall, when the construction is complete.

In other business, The Panther Prowl, will be held on July 12.

The event is a 5K or 15K race -1.2 or 9.3 miles respectively – which will award prizes to the top five male and female competitors.

The $5 entry fees will go to the Charleston Parks and Recreation Department.

The top five men and women, as well as the top two competitors in each age group, will receive prizes.

Fourth Street, University Drive and Lee Nursery Road will all be closed as needed but not for the whole duration of the race.

The council will vote on closing these roads for the event during tonight’s meeting.

There is a housing option for participants at Eastern in Lawson for $20 per person.

Ashlei Maltman can be reached at 581-7942 or anmaltman@eiu.edu.