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 AI2455, Access Taxilane A4
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: November 7, 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 2023-20242 Annual Budget and the 2024-2028 Capital Improvements Program by transferring $2,864,000 from the TIRZ2 Fund balance to the Airport Construction Fund and appropriating the funds into Project AI2455, Access Taxilane A4.
BACKGROUND INFORMATION:
• The proposed scope of work will include the construction of the Access Taxilane A4.
• The construction of the Access Taxilane A4 will enable connectivity of aeronautical use land to the Airport Movement Area which will facilitate pending improvements to the McKinney Airport.
FINANCIAL SUMMARY:
• This Ordinance amends the Fiscal Year 2023-2024 Annual Budget and the 2024-2028 Capital Improvements Program by transferring $2,864,000 from the TIRZ2 Fund balance to the Airport Construction Fund and appropriating the funds into Project AI2455, Access Taxilane A4.
• Total Project costs are estimated not to exceed $2,864,000. The City will be responsible for the total project costs.
BOARD OR COMMISSION RECOMMENDATION:
• Companion agenda items are on the November 7, 2023 Reinvestment Zone Number Two agenda to approve TIRZ funding for McKinney National Airport Project AI2455, Access Taxilane A4, in the amount of $2,864,000.