14 - TxDOT Airport Project Participation Agreement

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THE UNITED STATES, FEDERAL AVIATION ADMINISTRATION ("FAA"), OFFERS AND AGREES to pay, as the United States share of the allowable costs incurred in accomplishing the project, ninety per centum of all allowable project costs. This grant is made on and subject to the following terms and conditions: Part II - Offer of Financial Assistance 1. The allowable costs of the project shall not include any costs determined by the State to be ineligible under Title 49 U.S.C., Title 3 of the Texas Transportation Code, or the Airport Zoning Act, Texas Local Government Code §§ 241.001 et seq. 2. It is estimated that construction project costs will be approximately $3,485,100 (Amount A). It is further estimated that approximately $3,485,100 (Amount B) of the project costs will be eligible for federal financial assistance, and that federal financial assistance will be for ninety percent (90%) of the eligible project costs. Final determination of federal eligibility of total project costs will be determined by the State in accordance with federal guidelines following completion of project. If federal funds are unavailable, this Agreement shall automatically be voided and become of no force and effect, except that unexpended or unencumbered moneys actually deposited by the Sponsor and held with the State for project purposes shall be returned to the Sponsor. 3. The maximum obligation of the United States payable under this offer shall be $3,136,590 (Amount Q. This grant should not be construed as block grant funds for the Sponsor, but as a grant for funding of the scope items as listed on page one of this agreement. The State will provide federal funding to complete the approved work items of this grant and will not amend the scope of work to include items outside of the current determined needs of this project. Scope of work may be amended if necessary to fulfill the unforeseen needs of this specific development project within the spirit of the approved scope, subject to the availability of state, federal, and/or local funds. 4. It is estimated that the Sponsor's share of the total project costs will be $348,510 (Amount D). The Sponsor specifically agrees that, regardless of the estimated Amount D, it shall pay any project costs which exceed the sum of the federal share (Amount Q. In the event the State determines that additional funding is required by the Sponsor at any time during the development of the Project, the State will notify the Sponsor in writing. The Sponsor will make payment to the State within thirty (30) days from receipt of the State's written notification. It is further agreed that the Sponsor will reimburse the State for any payment or payments made by the State on behalf of the Sponsor which are more than the federal percentage of financial participation as stated in Paragraph II -2. Upon completion of the Project, the State will perform an audit of the Project costs. Any funds due to the Sponsor, the State, Page 2 of 43