FARGODOME Authority - February 28, 2017
A regular meeting of the Fargo Dome Authority was held on Tuesday, February 28, 2017 at 5:00 p.m. in the FARGODOME Conference Room with Troy Goergen presiding.
Members present: Troy Goergen, Nancy Jordheim, Darrell Vanyo (via phone), Blake Nelson, Ryn Pitts and Michael Ellingson.
Members absent: David Suppes
Others present: Susan Thompson, Director of Finance – FARGODOME; Bernie Larson, Assistant General Manager – FARGODOME; Amanda Muellenbach, Administrative and Auxiliary Services Manager - FARGODOME and Rob Sobolik, General Manager – FARGODOME.
Media present: None
Troy Goergen called the meeting to order at 5:02 p.m.
Rob requested to add Approval of Bids for Handicap Seating Expansion and Discussion on Possible Parking Arrangements between FARGODOME and Proffutt Limited Partnership to the agenda under Additional Items.
Nancy Jordheim made a motion, seconded by Blake Nelson, to approve the agenda of the February 28, 2017 Fargo Dome Authority meeting as amended. Motion carried.
Blake Nelson made a motion, seconded by Nancy Jordheim, to approve the minutes from the January 31, 2017 Fargo Dome Authority meeting. Motion carried.
Rob Sobolik presented the General Manager’s report as follows:
- Year-to-Date Net Income through January 2017 is stated at $5,926 which is a negative variance (to budget) of $11,983.
- Upon review, Blake Nelson made a motion, seconded by Michael Ellingson, to approve the January 2017 financial statements as presented. Motion carried.
- Past Events: Fargo Marathon Kick Off 5k/10k Run on February 4, 2017. NDSU Spring Career Fair on February 7-9, 2017. Kiwanis Pancake Karnival on February 11, 2017. ND State HS Wrestling Tournament on February 16-18, 2017. RRV Home & Garden Show on February 24-26, 2017.
- Upcoming Events: RRV Sportsmen’s Show on March 2-5, 2017. Disney on ice on March 9-12, 2017. PRCA Rodeo on March 17-18, 2017. RRV Sugarbeet Show on March 22-23, 2017. Journey on March 24, 2017.
- Comments on Past Events: Nothing to report.
Blake Nelson presented the Fargo Dome Authority Finance Committee report. The Fargo Dome Authority Finance Committee met on Wednesday, February 22, 2017. Items discussed included:
- 2016 Audit Report: Barb Aasen and Marcus Askvig from Eide Bailly reported to the Finance Committee on the 2016 Audited Financial Statements. Please see attached report. Upon review, the Finance Committee accepted a motion to approve the 2016 Audit Report as presented.
- January 2017 Financial Statements: The January 2017 Financial Statements were approved by the Finance Committee at the meeting on February 22, 2017.
- Capital and Investments: FARGODOME Investment Policy – At the January meeting, the Finance Committee reviewed the existing City of Fargo-FARGODOME Permanent Fund Investment Policy Statement along with a proposal to adopt an updated Standards of Investment Performance within the Permanent Fund Investment Policy. Please see attachment. The committee had asked for further clarification on what consequences, if any, there would be if any of the criteria in the updated Standards of Investment Performance was not met. Kent Costin explained to the Finance Committee that there really are no consequences or impact if the criteria is not met, it is used as a benchmark for evaluation of the asset manager. Upon further discussion, the Finance Committee accepted a motion to replace the current Standards of Investment Performance verbiage with the updated Standards of Investment Performance verbiage.
Blake Nelson made a motion to approve the Finance Committee report as presented. Motion carried.
Handicap Seating Expansion Bids: Rob provided an overview of the bids received for the handicap seating expansion project. Please see attachment. The project is budgeted at $300,000. It was noted that the bid from Roers Construction came in at a substantially lower price than the other bids. The architect confirmed with Roers that the bid they provided is correct and they will honor the bid.
Upon review and discussion, Darrell Vanyo made a motion, seconded by Nancy Jordheim, to accept the bid from Roers Construction of $139,300 for the handicap seating expansion project in sections 30 and 13.
On call of the roll, Jordheim, Nelson, Goergen, Pitts, Ellingson and Vanyo voted aye. Absent and not voting: Suppes. The motion was declared carried.
Discussion on Possible Parking Agreement: Proffutt Limited Partnership is building a student housing complex on the 1600 block in North Fargo. The housing complex may have a need for additional parking, if required by the City, than what could be provided on site. Proffutt has approached FARGODOME about the possibility of an arrangement to use up to 100 spots in FARGODOME parking lots for residents of the housing complex at a cost to be determined. Rob noted that FARGODOME has an agreement with NDSU for student residents at Niskanen Hall, located across the street from FARGODOME, in which parking permits are sold to park in FARGODOME lots and FARGODOME receives 75% of the proceeds from each permit sold. Rob stated that a similar agreement could be arranged with Proffutt, in which FARGODOME would receive $140 or more per parking permit sold. The consensus of the Authority was to have Rob continue communications with Proffutt and they are open to negotiations for a parking agreement.