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Metro Flood Diversion Authority—November 21, 2019 2 <br /> <br />6. ADMINISTRATIVE/LEGAL UPDATE <br />WIFIA events update <br />Attorney John Shockley provided a monthly update on the schedule of events associated <br />with the Water Infrastructure Finance and Innovation Act (WIFIA) loan through the <br />Environmental Protection Agency (EPA) and referred to the handout showing the timeline. <br /> <br />Flow of funds for WIFIA <br />Mr. Shockley distributed a chart showing the flow of funds associated with the WIFIA loan. <br />He said WIFIA post-closing activities will include quarterly progress reports, annual financial <br />statements, and site visits. He will provide a presentation on the flow of funds to each of the <br />Diversion member entities. <br /> <br />Resolution to Authorize Payment of WIFIA Application Fees <br />Last month the board approved WIFIA loan underwriting fees of approximately $500,000 be <br />paid from flood sales and use tax dollars. Mr. Shockley said a resolution has been drafted to <br />formalize the use of sales tax revenues, which needs action today. <br />MOTION, passed <br />Mr. Peterson moved and Mr. Steen seconded to adopt a Resolution <br />Authorizing Submission of US EPA WIFIA Application and Use of Sales <br />Tax Revenues for US EPA WIFIA Loan Application Fees. On roll call <br />vote, the motion carried unanimously. <br /> <br />7. PUBLIC OUTREACH UPDATE <br />Committee report <br />The Public Outreach Committee met on November 20th. Rocky Schneider said the committee <br />discussed development of a new communications plan next year with updated goals and <br />objectives; utilization of postcards to conduct public surveys; and use of visual methods to <br />show progress on the project. <br /> <br />8. LAND MANAGEMENT <br />Committee report <br />The Land Management Committee met on November 20th. Mrs. Scherling said work <br />continues with land acquisitions and appraisals. <br /> <br />Property Acquisition Status Report <br />The Property Acquisition Status Report is updated monthly and shows the status of all parcels <br />required for the project. The information is helpful to understand all the land purchases taking <br />place and to monitor their progress. <br /> <br />Acquisition Program for Voluntary Sale of Property <br />Last month the board decided to not bid on properties for sale through an auction and to <br />develop a policy for private sales. Eric Dodds from AE2S said changes were made to the <br />section of the Mitigation Plan regarding the “Acquisition Program” because of the discussion <br />last month. The section was renamed the “Acquisition Program for Voluntary Sale of <br />Property”. The Land Management Committee approved the changes. <br />MOTION, passed <br />Mr. Jacobson moved and Mr. Campbell seconded to approve the <br />amended policy for the Acquisition Program for Voluntary Sale of <br />Property as presented. On roll call vote, the motion carried unanimously. <br /> <br />9. FINANCE UPDATE <br />Committee report <br />The Finance Committee met on November 20th. Mr. Grindberg referred to the financial report <br />and said the net cash position is $91.4 million.