Resolution - Aviation: Consider a resolution authorizing the Mayor to accept Grant Agreement No. 3-488-0138-053-2022, under the Federal Aviation Administration, for the Airport Rescue Grant allocations, for Lubbock Preston Smith International Airport.
Item Summary
The American Rescue Plan Act (ARPA) of 2021, signed into law by the President on March 11, 2021, includes $8 billion in funds to be awarded as economic assistance to eligible U.S. airports to prevent, prepare for, and respond to the COVID-19 pandemic, including relief from rent and minimum annual guarantees (MAG) for eligible airport concessions at primary airports.
Lubbock Preston Smith International Airport has been allocated $445,637 for small and large business concession relief. The concession relief will provide relief from rent and minimum annual guarantees to eligible in-terminal concessions. The relief to each concessionaire will be based on the proportional share of the total annual rent and minimum annual guarantees for the airport.
Fiscal Impact
The notice of the Grant Award from the Federal Aviation Administration totals an allocation of $445,637.
Staff/Board Recommending
Bill Howerton, Deputy City Manager Kelly Campbell, Executive Director of Aviation Airport Advisory Board