Subject:
Title
Amendment 1 - Public Transportation Grant Agreement, Hangar Development Construction Phase Funding at Valkaria Airport.
End
Fiscal Impact:
General Fund: None
$ 718,000 (Design, and Construction) Airport Charges for Services/Loan Proceeds
Dept/Office:
Valkaria Airport
Requested Action:
Recommendation
It is requested the Board approve, adopt and authorize the Chair to execute the attached Amendment 1 to the existing FDOT Public Transportation Grant Agreement (PTGA) for hangar development at Valkaria Airport, and authorize all necessary budget change requests associated with this agreement.
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Summary Explanation and Background:
Valkaria Airport has experienced a 100% hangar occupancy rate for more than ten years. The current hangar waiting list exceeds 200 people and continues to grow at a rate that vastly outpaces hangar turnover. The construction of new hangars would allow the airport to accommodate a portion of the additional aviation demand for hangar space and produce additional revenue for the airport.
In 2016 The Board of County Commissioners adopted the FAA approved Valkaria Airport Master Plan and Airport Layout Plan. The plans direct the implementation of numerous capital improvement, safety, demand, and capacity related projects at the airport.
On May 15th, 2021 the Board of County Commissioners authorized the Chair to execute a Public Transportation Grant Agreement (PTGA) with The Florida Department of Transportation that provided initial funding to design and permit new hangars at Valkaria Airport.
Amendment 1 to this existing PTGA provides additional funding as listed below for Phase 1 of Construction. This additional funding is needed as the project moves into phase 1 of construction.
Existing Grant
? FDOT (80%) - $ 828,000
? Valkaria Airport (20%) - $ 207,000
? Total - $ 1,035,000
Amendment 1:
? FDOT (80%) - $ 2,872,000
? Valkaria Airport (20%) - $ 718,000
? Total - $ 3,590,000
Total Project Funding (Existing Grant + Ame...
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