Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2021-2022 Annual Budget and the 2022-2026 Capital Improvements Program to Provide Funds for Project AI2265, East Side Programming Documents
Summary
COUNCIL GOAL: Maximize the Development Potential of McKinney National Airport (3A: Implement initiatives and strategies, including public-private partnerships, to attract and expand corporate and commercial aviation)
MEETING DATE: January 4, 2022
DEPARTMENT: Airport
CONTACT: Kenneth Carley, A.A.E., Airport Director
RECOMMENDED CITY COUNCIL ACTION:
• Approve Ordinance
ITEM SUMMARY:
• This Ordinance amends the Fiscal Year 2021-2022 Annual Budget and the 2022-2026 Capital Improvements Program by transferring $1,500,000 from the Airport Operating Fund balance and $2,000,000 from the TIRZ2 Fund balance to the Airport Construction Fund and appropriating the funds into Project AI2265, East Side Programming Documents, to begin design for future development on the east side of the Airport.
BACKGROUND INFORMATION:
• The proposed scope of work will include identifying the appropriate site layout of various facilities, the physical planning requirements that will determine the necessary size of facilities, customer experience amenities, total square footage of proposed buildings and the associated aircraft apron, as well as the proposed the cost of the needed facilities.
FINANCIAL SUMMARY:
• This Ordinance amends the Fiscal Year 2021-2022 Annual Budget and the 2022-2026 Capital Improvements Program by transferring $1,500,000 from the Airport Operating Fund balance and $2,000,000 from the TIRZ2 Fund balance to the Airport Construction Fund and appropriating the funds into Project AI2265, East Side Programming Documents.
• Total Project costs are estimated not to exceed $3,500,000. The City will be responsible for 100% of the total project costs.
• Upon approval of this item, $3,500,000 will remain in AI2265.
BOARD OR COMMISSION RECOMMENDATION:
• Companion agenda items are on the January 4, 2022 Reinvestment Zone Number Two agenda to approve TIRZ funding for McKinney National Airport Project AI2265, East Side Programming Documents, in the amount of $2,000,000.