FARGODOME Authority - November 26, 2018 Minutes
A regular meeting of the Fargo Dome Authority was held on Monday, November 26, 2018 at 3:30 p.m. in the FARGODOME Conference Room with President Troy Goergen presiding.
Members present: President Troy Goergen, Blake Nelson, Nancy Jordheim, Dan Armbrust, David Suppes and Michael Ellingson.
Members absent: Darrell Vanyo.
Others present: Don Dethlefs – Perkins & Will; Mark Thiede – RL Engebretson; Rich Wiemken – RL Engebretson; Kim Manuel – RL Engebretson; Heather Olivieri – RL Engebretson; Brian Sellin – City of Fargo; Sarah Dykema, Director of Marketing and Sales – FARGODOME; Susan Thompson, Director of Finance – FARGODOME; Amanda Muellenbach, Administrative and Auxiliary Services Manager - FARGODOME and Rob Sobolik, General Manager – FARGODOME.
Media present: None
President Troy Goergen called the meeting to order at 3:31 p.m.
Michael Ellingson made a motion, seconded by Nancy Jordheim, to approve the agenda of the November 26, 2018 Fargo Dome Authority meeting as presented. Motion carried.
Blake Nelson made a motion, seconded by Nancy Jordheim, to approve the minutes from the October 30, 2018 Fargo Dome Authority meeting. Motion carried.
Rob Sobolik presented the General Manager’s report as follows:
• Year-to-Date Net Income through October 2018 is stated at $349,475, which is a negative variance (to budget) of $131,349.
• Upon review, Blake Nelson made a motion, seconded by David Suppes, to approve the October financial statements as presented.
On call of the roll, Ellingson, Goergen, Jordheim, Nelson and Suppes voted aye.
Absent and not voting: Armbrust and Vanyo.
The motion was declared carried.
Past Events: MN HS Football Section Finals - 8A on November 1, 2018. MN HS Football Section Finals – 6A on November 2, 2018. NDSU Football vs. Youngstown State on November 3, 2018. Dakota Bowl on November 9, 2018. NDSU Football vs. Southern Illinois on November 17, 2018. Fill the Dome on November 19-20, 2018.
Upcoming Events: ND Ag Expo on November 27-28, 2018. Health, Tech & Trades Career Expo on November 29, 2018. NDSU Football Playoff Game on December 1, 2018. Christmas Wonderland on December 20, 2018. Rumble on the Red Wrestling Tournament on December 28-29, 2018. Rumble on the Red Youth Wrestling Tournament on December 30, 2018.
Comments on Past Events: Nothing to report.
Dan Armbrust joined the meeting.
Troy Goergen presented the Fargo Dome Authority Building and Finance Committee report. The Fargo Dome Authority Building and Finance Committees met on Tuesday, November 20, 2018. Items discussed included:
• 2019 Insurance Proposals – Dawson Insurance: The committees reviewed the 2019 insurance proposals. Please see attachments. It was noted that the current general liability policy through K&K Insurance is very competitive and it is the recommendation of Dawson Insurance that FARGODOME remains with them. There were six companies that provided quotes for the Property Coverage. Dawson narrowed it down to three companies for comparison, Affiliated FM, Swiss Re and Zurich. The committee reviewed both a coverage comparison and
a financial comparison of the three companies. Dawson also provided a summary of recommendations that included Property Insurance through Zurich National, General Liability through K&K Insurance, as well as additional excess liability coverage. Please see attachment. Susan provided a comparison of coverage from the prior two years and the proposed 2018-2019 year. A general discussion ensued.
The Finance Committee and Building Committee each approved a motion to move forward with the recommendation from Dawson Insurance for General Liability Coverage and Property Coverage (with $25M in flood coverage), as well as accepting a total of $25M in excess liability.
October 2018 Financial Statements:
The October 2018 Financial Statements were approved by the Finance Committee at the meeting on November 20, 2018.
Project Updates:
• Snow Removal: Rob provided an overview of the bids for an annual lease of a yard rental loader to assist with snow removal. The bids received were as follows: Butler at $22,150, RDO at $12,500, General Equipment at $16,500 and Sunbelt at $15,959.68.
The Building Committee and Finance Committee each approved a motion to accept the bid from RDO at $12,500.
Building Upgrades:
RL Engebretson will be present at the next Authority meeting to review the progress of the project with the board.
Michael Ellingson made a motion to approve the Building and Finance Committee report as presented.
On call of the roll, Armbrust, Ellingson, Goergen, Jordheim, Nelson and Suppes voted aye.
Absent and not voting: Vanyo.
The motion was declared carried.
David Suppes made a motion, seconded by Michael Ellingson, to move forward with the recommendation from Dawson Insurance for General Liability Coverage through K&K Insurance and Property Coverage through Zurich National (with $25M in flood coverage), as well as accepting a total of $25M in excess liability. On call of the roll, Armbrust, Ellingson, Goergen, Jordheim, Nelson and Suppes voted aye.
Absent and not voting: Vanyo.
The motion was declared carried.
Additional Items:
Building Upgrades: Don Dethlefs provided an update on the building upgrades project. The committee will discuss the project updates in further detail at the next Authority meeting.
The next Fargo Dome Authority meeting will be on December 10, 2018 at 4:30 p.m.
There being no further business, the meeting was adjourned at 4:42 p.m.