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Metro Flood Diversion Authority—April 25, 2019 2 <br />Business Leaders Task Force Mr. Nisbet said he was proud of the engagement of the Business Leaders Task Force during the legislative session as an additional $480 million in funding was secured over the past few months. <br /> 6. LAND MANAGEMENT The Land Management Committee met on April 24th. Mr. Schneider discussed the Property <br />Acquisition Status Report map, which is updated monthly and shows the acquisition status of all parcels required for the project. <br />Mr. Campbell said almost all the land needed for the inlet structure and the Wild Rice inlet have been secured. 7. FINANCE UPDATE <br />Committee report The Finance Committee met on April 24th. Mr. Grindberg reviewed the financial report and said the net cash position is $83,765,213. FY2019 full cash budget Michael Redlinger, Co-Executive Director and Assistant Fargo City Administrator, said the full FY2019 cash budget was reviewed and approved by the Finance Committee. <br />MOTION, passed Mr. Grindberg moved and Mr. Steen seconded to approve the FY2019 Cash Budget as presented. Discussion: Mr. Steen said the cash budget does not reflect USACE project expenditures. Martin Nicholson of Jacobs said the PMC will track all expenditures against the overall program budget. Mr. Mahoney asked if P3 expenditures will appear in the budget. Mr. Nicholson said yes; P3 expenditures will appear as progress payments. Mr. Piepkorn asked if full funding for the P3 is needed up front. Mr. Nicholson said the P3 is a single contract that is bid as annual payments for a 30-year period. Total payments will include the $700 million progress payments plus the 30-year annual payments. The P3 developers will look for assurance that the Diversion Authority can cover the payments. Attorney John Shockley said specifics on the financial plan will be determined over the next 60-90 days. Mr. Piepkorn asked if the P3 payments can be paid off early if additional funding is secured. Mr. Shockley said the ability to pre-pay will be worked through during the procurement. Public debt is also a priority to pay off early if funds are available. On roll call vote, the motion carried unanimously. <br /> <br />Voucher approval The bills for the month are Cass County Joint Water Resource District (CCJWRD) for costs <br />associated with the Metro Flood Diversion, OHB levee, and in-town levees; Dorsey & Whitney for legal services; and Ohnstad Twichell, P.C. for legal services. MOTION, passed Mr. Grindberg moved and Mr. Steen seconded to approve the vouchers received through April 18, 2019, in the amount of $1,006,160.10. On roll call vote, the motion carried unanimously.