TITLE
Consider a memorandum/resolution accepting a Coronavirus Aid, Relief, and Economic Security (CARES) Act Airport Grant.
SUMMARY
DATE: May 12, 2020
TO: Kent Cagle, City Manager
FROM: Mike Wilson, Executive Director of Aviation
SUBJECT: CARES Act Airport Grant Acceptance
BACKGROUND AND FINDINGS:
The Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748, Public Law 116-136) signed into law by the President on March 27, 2020, includes $10 billion in funds to be awarded as economic relief to eligible U.S. airports affected by the prevention of, preparation for, and response to the COVID-19 pandemic.
The City has been offered a CARES Act Airport Grant in the amount of $717,498 for the Killeen-Fort Hood Regional Airport. This grant can be used for operational and maintenance expenses to help offset a decline in revenues arising from diminished airport operations and activities as a result of the COVID-19 Public Health Emergency.
THE ALTERNATIVES CONSIDERED:
Alternatives considered: (1) accept the grant; (2) reject the grant.
Which alternative is recommended? Why?
Alternative 1 is recommended. There are no available, reasonable alternative funding sources.
CONFORMITY TO CITY POLICY:
Yes
FINANCIAL IMPACT:
Acceptance of this grant will provide revenue of up to $717,498 in account number 525-0000-332.15-02. The appropriation of this revenue is included in the mid-year budget amendment for City Council approval.
What is the amount of the expenditure in the current fiscal year? For future years?
N/A
Is this a one-time or recurring expenditure?
N/A
Is this expenditure budgeted?
N/A
If not, where will the money come from?
N/A
Is there a sufficient amount in the budgeted line-item for this expenditure?
N/A
RECOMMENDATION:
City Council accept the CARES Act Airport Grant and authorize the City Manager or designee to execute all necessary grant documents and any and all amendments within the amounts set by Federal,...
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