Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Accept a Funding Grant from the Texas Department of Transportation, Division of Aviation
Summary
MEETING DATE: October 2, 2012
DEPARTMENT: Airport
CONTACT: Kenneth F. Wiegand, Airport Director
RECOMMENDED CITY COUNCIL ACTION:
· Approval of resolution
ITEM SUMMARY:
· This resolution will authorize the City Manager to execute a Grant Agreement for $4,030,904.00 to reimburse the City for past land acquisition.
BACKGROUND INFORMATION:
· Approximately 164 acres were acquired by the City from 2005 through 2010 for the Replacement Runway project.
· Certain amounts of that land are eligible for reimbursement from TxDOT.
· This grant is the first of two (2) TxDOT reimbursements the City is programmed to receive over the next 12 months.
FINANCIAL SUMMARY: This is a reimbursement of just less than 50% of the funds expended for land, legal and other professional services related to the previously approved TxDOT grant. Future reimbursements will come at a later date.
BOARD OR COMMISSION RECOMMENDATION: Approve.