Board creates oversight subcommittee for crop‑loss reserve after amendment

The Metro Flood Diversion Authority voted on July 23 to establish a Crop Loss Reserve Fund Oversight Subcommittee, amending the resolution so the committee’s third seat will be an appointee of the finance committee.

General Counsel John Shockley explained the choice to create a self‑managed reserve after insurance market quotes to transfer the risk returned at "about 7 to $8,000,000 per year" while staff estimated a probable maximum loss of "$25,000,000" if the entire pool flooded. Shockley said staff had consulted Watts and Associates and Aon Risk Services to design a program that would "bolt on" to the federal crop‑loss framework.

Board members debated whether to identify specific members by name or to leave the third slot as a finance‑committee appointee; the board approved the amendment by roll call and then adopted the amended resolution establishing the subcommittee.