Fargo Dome Authority - December 15, 2022 Minutes

A regular meeting of the Fargo Dome Authority was held on Wednesday, December 15, 2021 at 4:30 p.m. in the FARGODOME Conference Room with President Blake Nelson presiding.

Members present: President Blake Nelson, David Suppes, Dan Armbrust, Michael Ellingson, Nancy Jordheim, Troy Goergen and Rick Steen.

Members absent:

Others present: Ben Armbrust – Dawson Insurance; Ryan Hoffman – Dawson Insurance; Peter Monsrud – City of Fargo; Ryan Green – City of Fargo; Amanda Muellenbach, Administrative and Auxiliary Services Manager – FARGODOME; Susan Thompson, Director of Finance – FARGODOME; Bernie Larson, Assistant General Manager – FARGODOME and Rob Sobolik, General Manager – FARGODOME.

Media present: Barry Amundson – The Forum.

President Blake Nelson called the meeting to order at 4:29 p.m.

Mike Ellingson made a motion, seconded by David Suppes, to approve the agenda of the December 15, 2021 Fargo Dome Authority meeting as presented. Motion carried.

Dan Armbrust made a motion, seconded by Nancy Jordheim, to approve the minutes from the November 30, 2021 Fargo Dome Authority meeting. Motion carried.

Rob Sobolik presented the General Manager’s report as follows:
• Due to the timing of the December meeting, November financial statements were not available. November 2021 financial statements will be discussed at the January meeting.
• Past and Upcoming Events: ND Agriculture Show was held November 30 – December 1, 2021. Health, Tech and Trades Career Expo was held December 2, 2021. NDSU Football
Playoff Game vs. Southern Illinois was held December 4, 2021. NDSU Football Playoff Game vs. East Tennessee State University was held December 11, 2021. NDSU Football Playoff Game vs. James Madison will be held December 17, 2021. Rumble on the Red will be held December 29-31, 2021. WWE will be held January 15, 2022.

Rick Steen joined the meeting.

2022 Insurance Renewals: Ryan Hoffman and Ben Armbrust from Dawson Insurance provided an update on the 2022 insurance proposals. Please see attachment. Since the Building and Finance Committee meeting on November 23, Dawson reached out to Zurich regarding property insurance and they have agreed to keep the flood coverage at $25M and drop the flood deductibles from $1M to $500,000. Ryan also provided an overview of the risk engineering assessment report from Zurich. Please see attachment. Dawson was able to bring down the premium cost on both property and liability coverage. The final proposed net premium through Zurich for property coverage is
$217,340. The final proposed premium through K&K/CRC for liability coverage is $111,343. Total program premium is $342,541.
David Suppes made a motion, seconded by Mike Ellingson, to approve the property and liability insurance proposals as presented.
On call of the roll, Ellingson, Goergen, Jordheim, Nelson, Steen and Suppes voted aye. Armbrust abstained from the vote.
Absent and not voting: None
The motion was declared carried.

The next Fargo Dome Authority meeting will be on January 25, 2022 at 3:30 p.m.

There being no further business, the meeting was adjourned at 4:52 p.m.