Title
Consider a memorandum/resolution accepting a Concessions Rent Relief Airport Rescue Grant in the amount of $151,319.
Summary
DATE: February 1, 2022
TO: Kent Cagle, City Manager
FROM: Mike Wilson, Executive Director of Aviation
SUBJECT: Concessions Rent Relief Airport Rescue Grant
BACKGROUND AND FINDINGS:
The American Rescue Plan Act (ARPA), Public Law 117-2, signed into law by the President on March 11, 2021, includes approximately $8 Billion in economic relief to airports to prevent, prepare for, and respond to the COVID-19 pandemic. A portion of this funding was set aside for Concessions Relief Grants to provide relief from rent and minimum annual guarantees (MAG) for eligible in-terminal airport concessions.
The FAA has offered the City a Concessions Rent Relief Airport Rescue Grant in the amount of $151,319 for in-terminal concessions at the Killeen-Fort Hood Regional Airport (KHFRA) in accordance with the American Rescue Plan Act ("ARP Act"), Public Law 117-2, Section 7102.
THE ALTERNATIVES CONSIDERED:
Alternatives considered: (1) reject the grant; (2) accept the grant.
Which alternative is recommended? Why?
Alternative 2 is recommended. This funding will provide rent and MAG relief to eligible airport tenants to help offset the financial impacts of COVID-19
CONFORMITY TO CITY POLICY:
Yes
FINANCIAL IMPACT:
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 Concessions Rent Relief Airport Rescue 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, State and local law.
DEPARTMENTAL CLEARANCES:
Finance
Legal
ATTACHED SUPPORTING DOCUMENTS:
Gr...
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