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Finance committee reports large developer payments, approves bills and readies $47.5M WIFIA draw
Summary
The Diversion Authority Finance Committee approved bills totaling $1,241,170.01, heard a finance report showing a consolidated net position of roughly $222.7 million, and was briefed on a planned WIFIA draw just over $47.5 million; staff reported more than $47 million in spending last month, mostly milestone payments to the developer.
The Diversion Authority Finance Committee on Feb. 25 approved its routine bills and finance report, reviewed a cash-budget update that showed heavy recent spending tied to developer milestone payments, and was briefed on an imminent WIFIA draw request to the Environmental Protection Agency.
Susan Thompson, Finance Director for the City of Fargo, presented the bills (packet, p.5) covering expenses through Feb. 17, 2026 totaling $1,241,170.01 and said these were primarily…
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