From
Ryan Simpson
Title
Ordinance amending the FY 2019/2020 Capital Lending and Reserve Fund in the amount of $603,668 for a taxilane extension and service road reimbursement in accordance with Section IX. "Construction & Improvements" of the Long-Term Ground Lease Agreement effective February 1, 2019 with Staggerwing Development #5, LLC at the Grand Prairie Municipal Airport.
Presenter
Mark J. Divita, C.M., Airport Director
Recommended Action
Approve
Analysis
Working with Staggerwing Development #5, LLC, a plan has been developed wherein Staggerwing Development #5, LLC, will pay the upfront cost for taxilane extension and access road. Staggerwing Development #5, LLC, will construct the city owned improvements.
The taxilane extension and service road construction is necessary due to limitations of adjacent existing taxilanes' ability to carry and provide safe clearance of future based aircraft in the Staggerwing Development #5, LLC's hangar.
Once the project has been completed, the City will reimburse Staggerwing Development #5, LLC, the total amount of the construction cost, not to exceed $603,668.00, unless Council approves additional costs.
Due to the recent storm damage to the airport hangars, the City does not have funding available to complete the project at the time. Funds in the Airport Capital Improvement Project Fund originally intended for this project were depleted to make necessary emergency hangar repairs. The agreement with Staggerwing Development #5, LLC, will allow the project to commence much sooner than if the City were to delay the project until the funds were available.
This item was presented to the Finance and Government Committee on October 15, 2019 for their recommendation and approval.
Financial Consideration
Funding for the cost for taxilane extension and access road with Staggerwing Development #5, LLC, in the amount of $603,678.00 is available by approving an ordinance transferring appropriating from the unobligate...
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