Metro Flood Diversion Authority - 06.25.2026

The Metro Flood Diversion Authority meeting held on June 25, 2026, focused extensively on updates and approvals related to the ongoing flood diversion project in the Fargo area. Key procurement and financial discussions included the authorization to release a preliminary official statement for subordinated sales tax revenue bonds totaling approximately $220 million to finance construction and refund prior smaller bond issues. The board also approved a resolution to amend funding policies to support matching grants, potentially adding $5 to $7 million in federal funding for related lift station projects. Additionally, the authority is actively drawing down a $569 million loan facility to pay developers as construction progresses. Project updates highlighted significant construction milestones, including embankment work, bridge and aqueduct construction, and the initiation of operations and maintenance activities by the RVA. The meeting also addressed land acquisition progress, with ongoing settlement offers and upcoming trials related to easements. The finance committee reported positive sales tax revenue growth, and several contracting actions received board approval. The meeting concluded with recognition of departing board members and an executive session concerning crop loss claims involving potential litigation, resulting in authorization for the executive director to finalize related agreements.