2010-124 RES APPROVING EXECUTION OF AIRPORT PROJECT PARTICIPATION AGREEMENT WITH TEXAS DEPT OF TRANSPORTATION AVIATION FOR FEDERAL FUNDING FOR COX FIELD

Home Browse Search

accomplishment of the project and compliance with the assurances and conditions provided, THE TEXAS DEPARTMENT OF TRANSPORTATION, HEREINAFTE~R THE UNITED STATES, FEDERAL AVIATION DMINIST REFERRED TO AS THE "FAA"), OFFERS AND AGREES to pay, as the United States share of the allowable costs incurred in accomplishingthe p ollowing termpand condit onall allowable project costs. This grant is made on and subjec to the Part II - Offer of Financial Assistance The allowable costs of the project shall not include any costs determined by the State to be ineligible for consideration as to allowability under Title 49 U.S.C., the V.T.C.A. Vernon and Vernon Supp), and the Transportation Code, Title 3, Chapters 21-22, et seq•241.001 et seq. (Vernon and Vernon Airport Zoning Act, Tex. Loc. Govt. Code Ann. Supp). 2. It is estimated that design/engineering project costs will be approximately $145,000 (Amount A). It is further estimated that approximately $145,000 (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. The estimated project cost for the construction phase of this project is $1,530,000 (Amount C). The construction phase will be started upon completion of design, dependent upon availability of federal funds, and approval of the Texas Transportation Commission. A separate grant will be issued for the construction phase. In the event that federal funds are unavailable, this Agreement shall automatically be te foroproje unencumbered voided and become of no force and effeT t and hepld wi h unexpended moneys actually deposited by the Sponso shall be returned to the Sponsor. 3, The maximum obligation of the United States payable under this offer shall be $130,500 (Amount D). for This grant should not be construed as block g of th s agr emepntn Itrisbthea ntent of t e funding of the scope items as listed on page one State to provide funding to complet~emthe s opp ide of he curr nt dete msi nednne dds of this amend the scope of work to include project. Scope of work may be amended as 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 design costs will be $14,500 (Amount E). The Sponsor specifically agrees that it shall pay any project costs, which exceed the sum of the federal share (Amount D). Page 2 of 35