MFDA Finance Committee Meeting – July 23, 2025

See full minutes. 

A regular meeting of the Metro Flood Diversion Authority Finance Committee was held on July 23, 2025. Members present: Dr. Tim Mahoney, Mayor, City of Fargo; Bernie Dardis, Mayor, City of West Fargo; Dave Piepkorn, Fargo City Commissioner; Tony Grindberg, Cass County Commissioner; Susan Thompson, Finance Director, City of Fargo; Lori Johnson, Clay County Auditor/Treasurer; Mike Redlinger, Administrator, City of Fargo; Rick Steen, Cass County Joint Water Resource District; Mike Rietz, Assistant City Manager, City of Moorhead and Jim Kapitan, Cass County Commissioner. 

Member(s) absent: Brandy Madrigga, Cass County Finance Director and Shelly Carlson, Mayor, City of Moorhead. 

1. CALL TO ORDER

Mayor Dardis called the meeting to order at 4:00 PM. Roll call was taken, and a quorum was present.  

2. APPROVE THE MINUTES FROM THE JUNE 2025 MEETING

MOTION PASSED 

Mr. Steen moved to approve the minutes from the June 2025 meeting and Mr. Kapitan seconded the motion. On a voice vote, the motion carried. 

3. APPROVE THE ORDER OF THE AGENDA

MOTION PASSED 

Mr. Kapitan moved to approve the order of the agenda and Mr. Grindberg seconded the motion. On a voice vote, the motion carried. 

4. APPROVAL OF BILLS

Ms. Thompson reported that the bills payable through July 15, 2025, total $4,594,797, and are payable to the usual vendors, with Cass County Joint Water Resource District being the largest at $2,528,689 and the City of Fargo being the second largest at $1,361,870.  

MOTION PASSED 

Mr. Grindberg moved to approve the bills as presented and Mr. Steen seconded the motion. On a roll call vote, the motion carried.  

5. FINANCIAL REPORT

Ms. Thompson reported the total assets as of June 30, 2025, are $348,775,562; liabilities total $6,311,094, and the grand total net position is $342,464,469. 

MOTION PASSED 

Mr. Steen moved to approve the financial report as presented and Mr. Grindberg seconded the motion. On a voice vote, the motion carried.  

 6. CASH BUDGET REPORT

Mr. Benson reported that July revenues are $11,145,000 and $102,683,000, year-to-date, and they are tracking on target. Expenses for 2025 are $64,394,112 and continue to track on target as well. There will be an acceleration in milestone payments this year due to the settlement agreement and it is anticipated that the first WIFIA draw will be in Q3.  

7. Budget Change Requests

Mr. Barthel provided an overview and summary of the following Budget Change Requests for approval: 

a. BCR 020 – Minnkota Power Cooperative, Inc. – Task Order 8

Request description: reapportion WP-46 program budget underruns to the Minnkota Power cost account to support the scope of work as described under Task Order 8 for the proposed construction (labor, materials and equipment) of Minnkota Power Cooperative, Inc.’s (MPC) Oxbow 15kV Substation. The 2025 Cash budget for Minnkota Power will be increased from $2 million to $4.5 million. The 2025 cash budget will increase from $425,055,689 to $427,555,689 as a result of this change. Request justification: the existing substation is located within the Upstream Mitigation Area of the project and requires relocation. The substation relocation is expected to be completed in 2025. 

b. BCR 021 – P3 Developer Statement of Principles 2025 Payment

Request description: obligate $20 million of the P3 program contingency to the 2025 cash budget to support Section 22 of the Statement of Principles (SOP) executed 7/3/2025. The 2025 cash budget will increase from $427,555,689 to $447,555,689 as a result of this change and includes BCR-020 Minnkota Power substation relocation. Request justification: the Statement of Principles (SOP) executed on 7/3/2025 resolves various commercial issues and, as such payments to the Developer in 2025 are to be made according to Section 22 of the SOP. 

MOTION PASSED 

Mayor Mahoney moved to approve both Budget Change Requests as presented, and Mr. Grindberg seconded the motion. On a roll call vote, the motion carried.  

8. DA BOARD APPROVAL CONTRACTING ACTIONS

Mr. Bakkegard provided an overview and summary of the following contracting actions for approval: 

a. Minnkota Task Order 8, Amendment 0 – $3,376,114

Task Order 08, Amendment 0 – Construction of Oxbow 15kV Substation – This Task Order is for the proposed construction (labor, materials and equipment) for the Oxbow 15kvV Substation. The existing substation is located within the Upstream Mitigation Area of the project and requires relocation. The new substation is being constructed within the protected area of the FM Area Diversion Project. 

b. WP 52H – Raymond Township Mobility Improvement Award – RJ Zavoral & Sons, Inc., – $579,297

Recommendation of award. 

MOTION PASSED 

Mayor Mahoney moved to approve both contracting actions as presented, and Mr. Kapitan seconded the motion. On a roll call vote, the motion carried.  

9. OTHER BUSINESS

There was no other business to discuss. 

10. NEXT MEETING

The next meeting will be on August 27, 2025. 

11. ADJOURNMENT

The meeting adjourned at 4:17 PM.