Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2023-2024 Annual Budget and the 2024-2028 Capital Improvements Program to Provide Funds for Project AI2353, Hangar/Corp 10 and Customs Facility.
Summary
COUNCIL GOAL: Maximize the Development of McKinney National Airport
* 3A: Implement initiatives and strategies, including public-private partnerships, to attract and expand corporate and commercial aviation including the viability of passenger service.
* 3B: Identify and implement land use regulations and policies that preserve and expand long-term operational excellence.
MEETING DATE: December 19, 2023
DEPARTMENT: Airport
CONTACT: Kenneth Carley, A.A.E., Airport Director
RECOMMENDED CITY COUNCIL ACTION:
* Approve Ordinance
ITEM SUMMARY:
* This Ordinance amends the Fiscal Year 2023-2024 Annual Budget and the 2024-2028 Capital Improvements Program by appropriating $24,000,000 in Certificate of Obligation debt in the Capital Improvement Program Project AI2353, Hangar/Corp 10 and Customs Facility.
BACKGROUND INFORMATION:
* The proposed scope of work for will consist primarily of:
o The construction of the Corp 10 hangar
o The construction of U.S Border Patrol and Customs building
* The construction of the Corp 10 hangar will allow for additional hangar lease and fuel revenue.
* The construction of the Customs facility is required to continue providing Customs services to international operators.
* The City Council approved the issuance of certificates of obligation for airport projects at the November 7th meeting. Subsequently the bonds were sold on November 14th and funded on December 7th.
FINANCIAL SUMMARY:
* This Ordinance amends the Fiscal Year 2023-2024 Annual Budget and the 2024-2028 Capital Improvements Program by appropriating $24,000,000 in Certificate of Obligation debt in the Capital Improvement Program Project AI2353, Hangar/Corp 10 and Customs Facility.
* A resolution to execute an agreement with Griffin/Swinerto...
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