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Item No. 23 <br />TO: Mayor, Mayor Pro -Tem & City Council <br />Grayson Path, City Manager <br />FROM: Paul Strahan, Airport Manager / FBO Operator <br />SUBJECT: Additional Funds for Runway Project at Cox Field <br />DATE: April 22, 2024 <br />BACKGROUND: <br />For the past few years, the City has budgeted to provide the 10% match with TxDOT to complete <br />a resurface project on the runway and taxiway at the airport. The City was originally advised the <br />overall project was $2.75M. Based on this information, the City budgeted and sent, 10% of the <br />overall project, which was $275,000 prior to the end of last fiscal year. Staff has since been <br />informed that more funds are needed due to the overall project being delayed for -an entire year <br />resulting in an increase in the cost of the entire project. <br />STATUS OF ISSUE: <br />The city is now needing to add to the original $275K that has already been sent. The amount <br />needing to be sent to TxDOT is $72,600, which will bring the city's 10% requirement to a total of <br />$347,600. This amount of funds will come out of the city's ARPA Funds. <br />If bids come in higher than the estimated amounts above, it is possible more funds will be needed <br />to cover the required 10% project cost. Likewise, if they come in lower, we could receive a credit. <br />BUDGET: <br />After discussing this with City Manager Grayson Path and Finance Director Gene Anderson, the <br />decision was made to pull the entire $72,600 from the ARPA if approved. <br />RECOMMENDATION: <br />Approve an additional $72,600 be sent to TxDOT for the runway and taxiway rehabilitation project <br />scheduled to start early summer of 2024, <br />