Diversion Finance Committee - 10.21.2026

The City of Fargo Diversion Finance Committee meeting, dated October 21, 2026 (per the meeting title), reviewed financial reports, project funding, and contracting actions. Members approved four contracting actions: a task order related to FEMA certification and remapping, an amendment for program-advisor services provided by Martin Nicholson, an ongoing USGS agreement to maintain roughly 10 project gauges, and a change order for revised concrete-panel work. The committee also selected Johnson Financial as the preferred provider to manage the MFDA crop-loss reserve fund and directed staff to finalize a contract. No dollar amounts for these individual contracts or the concrete-panel change order were stated; the FEMA-related task order discussion referenced estimated future work through 2030. The committee approved an EPA/PPA pledge resolution directing future PPA revenues toward repayment of a planned sales-tax bond, with a parameter-sale resolution expected to come back next month. It also approved an NDDOT–MFDA access agreement for project operations and maintenance.

Financial updates noted Fargo sales-tax revenue was up 10.6% year to date and Cass County revenue was up 15%. The cash-budget discussion included adding $500,000 annually to the crop-loss reserve fund, on top of a planned $25 million contribution this year, and adjustments to MOU and operations-and-maintenance expenditures. Staff said the timing of developer payment requests and WIFIA draws could require another budget revision; no WIFIA draw was made this month because invoices had not reached the authority’s approximate $25 million threshold. The committee also discussed remaining project costs, including milestone payments and mitigation, but did not approve a specific bond issuance at this meeting.