Metro Flood Diversion Authority - 10.22.2026

The Metro Flood Diversion Authority Board meeting was held October 22, 2026. The board approved a resolution pledging PPA funds received after December 1 toward repayment of a planned sales tax bond issuance; officials said issuance is expected in November or December, with closing possibly in January, and has been delayed to avoid paying interest before funds are needed. The board also approved the consent agenda, which included an HMG task order amendment related to FEMA remapping work. Staff estimated approximately $3.5 million in engineering effort for the 2027 FEMA work, with effort expected to peak over the next year or two and decline as FEMA advances its mapping process. The 2027 cash budget remains in development, with approval anticipated in January. No WIFIA loan draw was made this month while staff await sufficient developer invoices.

The board approved, on a roll-call vote, Johnson Financial as the preferred proposer to manage the MFDA Crop Loss Reserve Fund and directed staff to finalize a contract; the initial fund deposit is $25 million from excess federal PPA funds. Project updates reported that the Southern Embankment had reached full height and that construction and mitigation work continued. The authority also reported closing on 13 parcels covering more than 1,000 acres for upstream mitigation. Other procurement- or spending-related actions included the approved PPA pledge resolution and HMG task order amendment; no contract value for Johnson Financial was specified.