Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2021-2022 Annual Budget and the 2022-2026 Capital Improvements Program to Provide Funds for Project AI4315, Airfield Maintenance & Storage Building
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: May 3, 2022
DEPARTMENT: Airport
CONTACT: Kenneth Carley, A.A.E., Airport Director
RECOMMENDED CITY COUNCIL ACTION:
• Approve Ordinance
ITEM SUMMARY:
• This Ordinance amends the Fiscal Year 2021-2022 Annual Budget and the 2022-2026 Capital Improvements Program to provide funding for construction costs associated with the Airfield Maintenance & Storage Building Project (CIP Project AI4315) for a total of $1,271,579 ($742,579 from Airport Operating Fund and $529,000 from Airport Construction Fund available fund balance).
BACKGROUND INFORMATION:
• The proposed scope of work will include the construction of the Airfield Maintenance & Storage Building and supporting infrastructure on the southwest side of McKinney National Airport.
FINANCIAL SUMMARY:
• Project AI4315, Airfield Maintenance & Storage Building, currently has $4,328,421 programmed.
• The Airport Construction Fund balance has $529,000 available to appropriate to Project AI4315, Airfield Maintenance & Storage Building.
• This Ordinance amends the Fiscal Year 2021-2022 Annual Budget and the 2022-2026 Capital Improvements Program to provide funding for construction costs associated with the Airfield Maintenance & Storage Building Project (CIP Project AI4315) for a total of $1,271,579 ($742,579 from Airport Operating Fund and $529,000 from Airport Construction Fund available fund balance).
• With this amendment, the total project budget for Airfield Maintenance & Storage Building Project (CIP Project AI4315) will increase from $4,328,421 to $5,600,000.
• Upon approval of this item, $5,114,354 will remain in Project AI4315.
• Total Project costs are estimated not to exceed $5,600,000. The City will be responsible for 100% of the total project costs.
BOARD OR COMMISSION RECOMMENDATION:
• N/A