2012-011 RES AUTHORIZING/APPROVING EXECUTION OF AIRPORT PROJECT PARTICIPATION AGREEMENT WITH TXDOT TO APPLY FOR FEDERAL FUNDING FOR COX FIELD IMPROVEMENTS

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provided, and (b) the benefits to accrue to the United States and the public from the accomplishment of the project and compliance with the assurances and conditions as herein provided, THE TEXAS DEPARTMENT OF TRANSPORTATION, FOR AND ON BEHALF OF THE UNITED STATES, FEDERAL AVIATION ADMINISTRATION (HEREINAFTER REFERRED TO AS THE "FAA"), OFFERS AND AGREES to pay, as the United States share of the allowable costs incurred in accomplishing the project, ninety percentum 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 for consideration as to allowability under Title 49 U.S.C., the V.T.C.A. Transportation Code, Title 3, Chapters 21-22, et seq., (Vernon and Vernon Supp), and the Airport Zoning Act, Tex. Loc. Govt. Code Ann. 241.001 et seq. (Vernon and Vernon Supp). 2. It is estimated that construction project costs will be approximately $1,507,200.00 (Amount A). It is further estimated that approximately $1,507,200.00 (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. 3. The maximum obligation of the United States payable under this offer shall be $1,356,480.00 (Amount C). 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. It is the intent of the State to provide funding to complete the approved work items of this grant and not to amend the scope of work to include items outside of the current determined needs of this 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 project costs will be $150,720.00 (Amount D). At project closeout, Sponsor will be reimbursed for any credited amounts that exceed Sponsor's share. The Sponsor specifically agrees that it shall pay any project costs, which exceed the sum of the federal share (Amount C). It is further agreed that the Sponsor will reimburse the State for any payment or payments made by the State in behalf of the Sponsor which are in excess of the federal percentage of financial participation as stated in Paragraph II-2. The State shall refund to the Sponsor, at the financial closure of the project, any excess funds provided by the Sponsor. 2 of 35