Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Apply for and Accept, if Awarded, a Coronavirus Aid, Relief, and Economic Security (CARES) Act Grant from the Texas Department of Transportation in the Estimated Amount of $157,000
Summary
COUNCIL GOAL: Maximize the Development Potential of the McKinney National Airport (3A: Implement initiatives and strategies, including public-private partnerships, to attract and expand corporate and commercial aviation).
MEETING DATE: JUNE 16, 2020
DEPARTMENT: Airport
CONTACT: Ken Carley, Airport Director
RECOMMENDED CITY COUNCIL ACTION:
• Approve Resolution
ITEM SUMMARY:
• The U.S. Department of Transportation has made Coronavirus Aid, Relief, and Economic Security (CARES) Act Grants available to general aviation airports, through the Texas Department of Transportation. The Texas Department of Transportation acts as agent for the U.S. Department of Transportation for the purposes of applying for, receiving and distributing all aviation grant funds for Texas general aviation airports.
BACKGROUND INFORMATION:
• The McKinney National Airport has received an offer of financial assistance in the form of a 100% grant of approximately $157,000, from the Texas Department of Transportation.
• The funds can be used for capital expenditures and for general operating expenses of the McKinney National Airport, including payroll, and for other purposes for which airport revenues may be lawfully used, provided the McKinney National Airport continues to employ, through December 27, 2020, at least 90% of the number of individuals employed as of March 27, 2020.
FINANCIAL SUMMARY:
• The Grant reimburses the McKinney National Airport for 100% of qualifying expenses and requires no matching funds.
BOARD OR COMMISSION RECOMMENDATION:
• N/A