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Metro Flood Diversion Authority—October 17, 2018 2 <br />Mr. Shockley reviewed the typical P3 model and P3 procurement process and said the P3 established by the Diversion Authority may be used as a pilot for other projects across the <br />country. The advantages of a P3 include reduced costs to taxpayers, schedule certainty, innovative designs, project efficiencies, project investment by both the contractor and engineer, and private equity in the project. Mr. Shockley discussed action items necessary to move forward with the P3 procurement, which include finalization of updated costs and a financial plan; receipt of a permit from the Minnesota Department of Natural Resources; and removal of the injunction if a permit is issued. 6. REMARKS Senator John Hoeven discussed provisions he secured in the Water Resources <br />Development Act (WRDA) and FY 2019 Energy and Water funding legislation, which were recently approved by Congress and will be signed into law. <br />The WRDA bill resolves issues with easements on land purchased through the Hazard Mitigation Grant Program (HMGP) and will enable Plan B to be implemented. <br />The FY2019 funding bill provides an additional $150 million to the Corps of Engineers construction account to be used on priorities such as flood protection for this area. The Water Infrastructure Finance and Innovation Act (WIFIA) will be implemented under this legislation to provide local governments with low-cost and flexible funding options. In addition, the bill directs the Corps to develop a plan to implement WIFIA and ensures fair treatment of P3 projects. Major General Spellmon said one objective for his visit today is to understand the project and P3 process better and receive a one-on-one briefing from staff and board members. One of his goals is to put a spotlight on projects like the Metro Flood Diversion. He said work is being done by the Corps to reform regulations to provide efficiencies in how <br />projects are handled. The Corps recognizes the importance of the Diversion project and will work to obtain funding to continue moving the project forward. The WRDA bill provided a 60-day deadline for the Corps to formulate how it will invest the additional funding, and he expects more will be known by the end of November. 7. NEXT MEETING <br />The next meeting will be held Thursday, October 25th at 3:30 PM. 8. ADJOURNMENT <br />The Chairwoman declared the meeting adjourned at 2:40 PM. Minutes prepared by Heather Worden, Cass County Administrative Assistant