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EDC approves Terracon change order for Water Street garage as executive director warns of $1.6M outstanding EDA reimbursement
Summary
The Dickinson EDC approved a $12,315 change order for the Water Street parking garage, raising the contract to $62,275. Executive Director David Funk said roughly $1,600,000 in EDA reimbursements remain unpaid, creating near-term cash pressure and prompting contingency plans including the credit line.
The Dickinson Economic Development Corporation on a voice vote approved a $12,315 change order for Terracon Consultants Inc., increasing the Water Street parking garage contract total to $62,275.
Executive Director David Funk told the board the garage is about six weeks from completion but that federal reimbursements remain unsettled. “We still have roughly 1,600,000 outstanding,” Funk said, describing difficulty getting responses and verifications from the Economic Development Administration. He said the DEDC is working with its grant administrator and may escalate the issue to the local congressional office if needed.
Funk warned the delayed reimbursements are creating cash pressure and outlined mitigation options, including drawing on the DEDC’s newly approved revolving line of credit and repaying it when reimbursements arrive. The board approved the Terracon change order after brief procedural discussion; a motion to approve was made, seconded and passed by voice vote.
The board’s approval completes the formal vote the item missed at the previous posting cutoff, the executive director said, and will allow the contractor to proceed with the additional scope identified in the change order.
