TITLE
Consider a memorandum/resolution approving a Killeen Economic Development Corporation (KEDC) performance agreement in support of Air Service Development (ASD) initiatives and projects at the Killeen Fort Hood Regional Airport (KFHRA).
SUMMARY
AGENDA ITEM
Killeen Economic Development Corporation ASD Performance Agreement
ORIGINATING DEPARTMENT
Aviation
BACKGROUND INFORMATION
The KEDC is an organization which promotes the development of various enterprises to promote and encourage employment and the public welfare for the City of Killeen. Members of KEDC work closely with the Killeen Industrial Foundation, the Greater Killeen Chamber of Commerce, and the City of Killeen.
DISCUSSION/CONCLUSION
Staff presented information to KEDC related to funding for Air Service Development for the KFHRA to retain existing air service, pursue new aviation opportunities, and develop programs that would make the airport more competitive within the region. The KEDC and Staff have negotiated a performance agreement that will provide up to $90,000 towards this project.
FISCAL IMPACT
A budget amendment for this project will be brought forward for Council consideration following the approval of the performance agreement. The budget amendment will increase revenues and expenses by $90,000, resulting in no fiscal impact to the City.
RECOMMENDATION
City Council approve the Killeen Economic Development Corporation Performance Agreement to provide up to $90,000 for Air Service Development and authorize the City Manager to execute the agreement and any and all amendments to the agreement within the amounts set by state and local law.