Group seek study of F-M diversion financing

FARGO – A proposal to have parts of the Fargo-Moorhead flood diversion financed partly would get more scrutiny under a recommendation Wednesday from the diversion authority’s finance committee.
The full Diversion Board of Authority would still have to approve spending $175,000 to $350,000 to hire consultants at Ernst & Young.
The so-called public-private partnership, or P3, would involve private companies financing parts of the diversion project. The authority would repay them over time and provide a profit.
P3 proponents believe private companies could build the diversion faster and at lower cost than through traditional government financing.
Ernst & Young would also be asked to look at the traditional models as well, including federal loan programs.