FARGO (KFGO-AM) - Fargo Mayor Tim Mahoney leads a local delegation to Washington Wednesday and Thursday to talk about federal funding for the FM Diversion project.
Mahoney says a proposal for a public-private partnership to build the project has caught the attention of decision makers in Washington, including the administration. He says the idea, under study for some time, typically involves a private company which would finance and build the diversion. The project would be paid for upfront, with taxpayers paying back the cost plus some profit.
Mahoney says the plan would result in a faster "build time" of 6 to 8 years, about half the time it would take for a typical Corps of Engineers project. He says the federal share would be reduced by nearly half which he says should would make Congress more willing to provide funding. He adds there are already private investors interested in the project.
Moorhead Mayor Del Rae Williams, Fargo City Adminstrator Pat Zavoral, Diversion Authority Chairman Darrell Vanyo, Cass County Adminstrator Keith Berndt and a financial consultant from a major investment firm which specializes in this type of partnership will take part in the meetings.