Fargo Dome Authority - September 28, 2021 Minutes

A regular meeting of the Fargo Dome Authority was held on Tuesday, September 28, 2021 at 3:30 p.m. in the FARGODOME Administrative Conference Room with President Blake Nelson presiding.
Members present: President Blake Nelson, David Suppes, Troy Goergen, Michael Ellingson, Nancy Jordheim and Rick Steen.

Members absent: Dan Armbrust.

Others present: 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 3:31 p.m.

Rick Steen made a motion, seconded by David Suppes, to approve the agenda of the September 28, 2021 Fargo Dome Authority meeting as presented. Motion carried.

Troy Goergen made a motion, seconded by Mike Ellingson, to approve the minutes from the August 31, 2021 Fargo Dome Authority meeting. Motion carried.

Rob Sobolik presented the General Manager’s report as follows:
• Year-to-Date Net Income through August 2021 is stated at $2,626,804 which is a positive variance (to budget) of $2,628,775.
• Upon review, Rick Steen made a motion, seconded by David Suppes, to approve the August 2021 financial statements as presented.
On call of the roll, Ellingson, Goergen, Jordheim, Nelson, Steen and Suppes voted aye.
Absent and not voting: Armbrust.
The motion was declared carried.
• Past and Upcoming Events: NDSU Football vs. Albany was held September 4, 2021. NDSU Football vs. Valparaiso was held September 11, 2021. NDSU Engineering and Tech Expo was held September 22, 2021. Sanford Fargo Marathon was held September 23-25, 2021. Youth Football Games will be held October 3, 2021. NDSU Football vs. University of Northern Iowa will be held October 9, 2021. FM Athletics Youth Football will be held October 10, 2021. The Big One Art and Craft Fair will be held October 15-16, 2021. NDSU Football vs. Missouri State will be held October 23, 2021. FM Athletics Youth Football will be held October 24, 2021.

Rick Steen presented the Fargo Dome Authority Building and Finance Committee report. The Fargo Dome Authority Building and Finance Committees met on Wednesday, September 22, 2021. Items discussed included:

• August 2021 Financial Statements: The August 2021 Financial Statements were approved by the Finance Committee at the meeting on September 22, 2021.
• Project and Capital Budget Updates:
o Dressing Room/Catering Room Remodel – The wall coverings in the catering room are being replaced. The project will be complete following the replacement of the wall coverings.
o Rob provided a brief overview of potential upcoming projects including turf replacement, upgrades to the north end set seating area and rigging grid and LED conversion on the concourse and meeting room areas. These items will be discussed in further detail at upcoming meetings.
• Escrow Balance & Performance Reports: The FARGODOME permanent fund performance, year-to-date, through June 2021 is 22.07%. The FARGODOME permanent fund performance, year-to-date, through July 2021 is 1.34%. Please see attachments.

Rick Steen made a motion to approve the Building and Finance Committee report as presented.
• On call of the roll, Ellingson, Goergen, Jordheim, Nelson, Steen and Suppes voted aye.
• Absent and not voting: Armbrust.
• The motion was declared carried.

The next Fargo Dome Authority meeting will be on October 26, 2021 at 3:30 p.m.

There being no further business, the meeting was adjourned at 3:49 p.m.