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Flood Diversion Board of Authority—May 14, 2015 4 <br />CCJWRD update <br />Mark Brodshaug provided an update on land acquisitions completed through April 30, 2015. <br />He reviewed information on completed acquisitions, budget figures, and completed negotiations. Negotiations continue with Oxbow homeowners as part of the replacement housing process and three new purchase agreements were signed for Oxbow area <br />properties. One opportunistic farmland purchase was completed. He said relocations from <br />the Park East apartment complex continue to move forward and tenants have until July 15th <br />to be out of the building, which is the scheduled closing date. 10. FINANCE UPDATE <br />Committee report <br />The Finance Committee met on May 13th. Michael Montplaisir, Cass County Auditor, said a <br />little over $100 million has been spent so far on the project. He also reviewed total revenues, budget report summary, state aid, and in-town levee work. <br />City of Fargo – First Draw Down Request <br />The Finance Committee approved the first draw down request from the $50 million loan with <br />U.S. Bank, which will cover legal and closing costs. The closing is scheduled for May 28th. <br />MOTION, passed Mr. Mahoney moved and Ms. Otto seconded to authorize the City of <br />Fargo to draw down funds in the amount of $5,000,000 from U.S. Bank at <br />the time of closing on the loan. On roll call vote, the motion carried <br />unanimously. <br /> Change Fiscal Year to Calendar Year <br />Mr. Montplaisir said the committee approved an extension of the current FY2015 budget year <br />from September 30, 2015, to December 31, 2015, to coincide with the city and county’s <br />calendar year for financial records. <br />MOTION, passed Mr. Pawluk moved and Mr. Thorstad seconded to extend the current <br />FY2015 budget year to December 31, 2015, and to change the fiscal year <br />thereafter to the calendar year used by Fargo and Cass County. On roll <br />call vote, the motion carried unanimously. <br /> Third Amendment to Joint Powers Agreement – Dakota Metro Flood Board <br />The Buffalo-Red River Watershed District approved $1.5 million out of the $211 million <br />Diversion Authority budget to complete the MN EIS. As a result, a proposed third amendment <br />to the existing Joint Powers Agreement (JPA) with Fargo, Cass County and Cass County <br />Joint Water Resource District has been drafted. Erik Johnson provided some background on the JPA, which was first approved in 2010 and has been amended twice over the last five <br />years. The proposal today provides a mechanism to approve and/or ratify expenditures, <br />agreements and other decisions of the Flood Diversion Authority Board, and establishes the <br />Dakota Metro Flood Board. The Dakota Metro Flood Board will consist of seven members: <br />three from Cass County, three from Fargo, and one from the CCJWRD. This will serve as an interim measure to act in conjunction with the Diversion Authority. The plan is for the Dakota <br />Metro Board to convene immediately after the Diversion Authority meeting. Mr. Johnson said <br />the request today is for the Diversion Authority to approve the amendment in concept and <br />form and forward it to Fargo, Cass County and CCJRWD for action. <br />