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Committee approves final cost-share payments for three completed dams
Summary
The committee approved amending Cass County flood-sales tax cost shares to reimburse final local costs for Elm River Dam Nos. 1 and 2 (up to $236,432 at two-thirds) and Dam No. 3 (up to $73,606 at 90%). Staff said state and regional partners bear the bulk of project costs and much of county share is financing-related.
Representatives for the joint water resource districts told the committee that construction on three dam projects is complete and that final cost reconciliation requires the county to amend previously approved cost-share amounts.
Andrew Thompson, identified as secretary/treasurer for the joint board, told the committee that the total cost for Dams 1 and 2 was $6.9 million, with roughly $1.25 million attributed to bond and interest payments. He said the State Water Commission and the Red River Joint Water Resource District will cover the majority of construction costs — about $3.3 million and $3.2 million respectively at their approved cost-share rates.
The committee considered two motions: to amend Cass County flood-sales tax cost share for Elm Dam Nos. 1 and 2 up to a maximum of $236,432 at the previously approved two-thirds local share, and to amend cost share for Elm River Dam No. 3 up to a maximum of $73,606 at the previously approved 90% local share. Both motions were moved, seconded, taken by roll-call and recorded as carried with affirmative votes from members present.
Committee members noted that bonding and financing increased the final sums and described the session as a lesson learned for anticipating financing costs earlier in the planning process. Staff said the joint board expects to make bond payments twice a year and that early payoff opportunities may reduce future interest costs.
