17 - CARES Funding Grant Agreement - Airport

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Item No. 17 TO: Mayor & City Council FROM: Grayson Path, City Manager SUBJECT: CARES Funding Grant Agreement City Airport DATE: October 26, 2020 BACKGROUND: The Federal Government issued CARES Funding to assist Airports throughout the nation. The City of Paris Municipal Airport has been allocated $69,000.00 to assist it with airport -related expenditures in the wake of CoVid-19. These expenditures can be operational, inventory, personnel, capital, outlay, etc. STATUS OF ISSUE: The Airport has until May 28, 2024 to expend funds and seek reimbursement for said expenditures, but after working with the Airport Advisory Board, FBO and City Staff, we plan to obtain these funds in the next few months for capital improvements at the Airport. The TxDOT has requested that we sign the attached CARES Act Airport Grant Agreement. BUDGET: The TxDOT has allocated $69,000.00 to the City of Paris Airport for any airport -related expenditure(s). The City was aware that this was coming during the budget process, therefore it was added to the FY20/21 Budget under 01-0802-61-97. The Airport Authority intends to utilize the funding for needed capital improvements. OPTIONS: 1. Approve the CARES Act Airport Grant Agreement and authorize the City Manager to sign. 2. Reject and/or request additional information regarding the CARES Act Airport Grant Agreement. RECOMMENDATION: 1. Approve the CARES Act Airport Grant Agreement and authorize the City Manager to sign.