Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2019-2020 Annual Budget and the 2020-2024 Capital Improvements Program to Provide Funds for Additional Work for Project AI1744, Western TKI Executive Terminal at McKinney National Airport
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: October 15, 2019
DEPARTMENT: Airport
CONTACT: Kenneth Carley, A.A.E., Airport Director
RECOMMENDED CITY COUNCIL ACTION:
• Approve Ordinance
ITEM SUMMARY:
• This Ordinance amends the Fiscal Year 2019-2020 Annual Budget and the 2020-2024 Capital Improvements Program by appropriating $486,085 from the Airport Construction Fund balance to Project AI1744, Western TKI Executive Terminal.
BACKGROUND INFORMATION:
• WesternTKILeasing Inc. and the City of McKinney have executed a third amendment to the lease with purchase option for the new TKI Executive Terminal. A deposit for additional work, in the amount of $486,085, was agreed to for the following approved exterior improvements:
o Substitute the exterior Stone Coat areas with real veneer stone;
o Substitute the exterior storefront glass areas with a larger curtain wall system;
o Modify the structure as needed to accommodate the curtain wall system; and
o Include aluminum paneling on certain exterior in areas, as approximately depicted on publicly available artist renderings of the front building elevation.
FINANCIAL SUMMARY:
• The budget will be amended by appropriating $486,085 from the Airport Construction Fund balance to Project AI1744, Western TKI Executive Terminal.
BOARD OR COMMISSION RECOMMENDATION:
• N/A