Finance Committee Minutes – Aug. 21, 2019
Flood Diversion Finance Committee Minutes from Aug. 21, 2019
Finance Committee Agenda – Aug. 21, 2019
Finance Committee Agenda for Aug. 21, 2019 Item 7e: MOU with Cass County
2019 Amended PPA
2019 Amended PPA Amendment No 1. to the Project Partnership Agreement (PPA)
Diversion Leaders Present Progress and Financial Video to North Dakota lawmakers
Members of the Flood Diversion Board of Authority presented an update to the North Dakota Water Topics Overview Committee and the North Dakota State Water Commission, including Gov. Jack Dalrymple,…
Will I still be special assessed?
The financial plan does not rely on residents paying special assessments. The special assessment district will still be utilized as a financial back stop on some of the long-term bonding…
What ability to end the tax early is there?
Sales tax collections of City or County sales tax can cease upon approval of the City or County Commission, respectively. The financial plan envisions a scenario in which, due to…
Why does it need to be extended to 2084?
A long-term revenue source is needed to secure the long-term financing that helps make the annual payments affordable, much like a home mortgage. The financial plan amortizes the sales tax…
Why do we have to vote now on a tax that doesn’t expire until 2029?
The foresight by voters in Fargo and Cass County to pass sales taxes early in the process helped move the Project swiftly through the necessary political hurdles and obtain federal…
Who else is paying for the Diversion Project?
The total cost of the FM Area Diversion Project and the Fargo Flood Control Measures is estimated at $2.2 Billion. Of that amount, over $1 Billion is expected to come…
What does this tax pay for?
Sales tax is expected to fully cover the local portion of the FM Area Diversion Project and other Fargo Flood Control Measures. The Diversion Project has been determined as the…