Authority reports $105.6 million WIFIA draw; loan carries ~2.008% interest
July 24, 2026 | Fargo , Cass County, North Dakota
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
The Metro Flood Diversion Authority reported a large WIFIA draw during its July 23 meeting. "The most recent draw request is for $105,600,000," General Counsel John Shockley told the board, adding the loan is structured for approximately 40 years at an interest rate of 2.008%.
Shockley said staff will continue to provide monthly updates on draws because WIFIA financing is an integral part of the project cash‑flow plan. The briefing was presented as part of the general counsel's updates and drew no further questions from the board.
The board did not take separate action on the draw at the meeting; Shockley described it as an informational update and invited questions about the WIFIA program.
Shockley said staff will continue to provide monthly updates on draws because WIFIA financing is an integral part of the project cash‑flow plan. The briefing was presented as part of the general counsel's updates and drew no further questions from the board.
The board did not take separate action on the draw at the meeting; Shockley described it as an informational update and invited questions about the WIFIA program.
View the Full Meeting & All Its Details
This article offers just a summary. Unlock complete video, transcripts, and insights as a Founder Member.
✓
Watch full, unedited meeting videos
✓
Search every word spoken in unlimited transcripts
✓
AI summaries & real-time alerts (all government levels)
✓
Permanent access to expanding government content
30-day money-back guarantee
