October 15, 2012 - City of Laredo

October 15, 2012 - City of Laredo October 15, 2012 - City of Laredo

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Dated: Disbursement of funds from the Acquisition Fund in accordance with the foregoing Disbursement Request hereby is authorized BANC OF AMERICA PUBLIC CAPITAL CORP, as Lessor under the Lease Name: Title: CITY OF LAREDO, TEXAS By: Authorized Representative

COUNCIL COMMUNICATION DATE: SUBJECT: Final Reading Ordinance No. 2012-0-173 Amending the City of Laredo FY 2013 Noise Abatement Lease Program Budget by transferring the sum of $500,000.00 and appropriating said sum in the Airport Construction Budget. The transfer will fund the required Ten (10) percent local match towards Federal Aviation Administration "FAA" Grant(s) for the construction of the new Airport Rescue & Fire Fighting Station, Noise Abatement, and other Airport projects; and authorizing the City Manager to implement said budget amendment. ~NITIATED BY: Jesus Olivares, STAFF SOURCE: Jose L. Flores, I Assistant City Manager PREVIOUS ACTION: None. BACKGROUND: Airport Manager The Federal Aviation Administration has informed the City of Laredo that the program income fiom the rental of houses acquired under the Federal Aviation Regulations, Part 150 Airport Noise Compatibility Program may be used for any airport purpose. Construction of the new Airport Rescue & Fire Fighting Station "ARFF" is a priority project for the Airport Advisory Board and City Council. The use of program income will enable to use as local match towards FAA Grant(s) for construction of the new ARFF, Noise Abatement, and other projects. During FY 2012 the Airport is programmed to receive approximately $17.0 million in FAA Grant funding and the local match of 10% equates to approximately $1.9 million. Account No. Amended Budget Fund Balance N/A 0 ($500,000.00) 0 Expenses: Transfer Out to Airport Construction 257-3686-597-0433 $500,000.00 $500,000.00 Fund 433 Revenues: Transfer In fiom Noise Abatement 433-0000-393-0257 $2,250,000.00 $500,000.00 $2,750,000.00 Expenses: Improvements other than Bldgs. 433-3603-585-9301 $500,000.00 $500,000.00 t" COMMENDATION: On September 18,2012, the Airport Advisory oard recommended amroval. STAFF: That the City Manager be authorized to implement the proposed FY 201 3 budget amendment.

Dated:<br />

Disbursement <strong>of</strong> funds from the Acquisition<br />

Fund in accordance with the foregoing<br />

Disbursement Request hereby is authorized<br />

BANC OF AMERICA PUBLIC CAPITAL CORP,<br />

as Lessor under the Lease<br />

Name:<br />

Title:<br />

CITY OF LAREDO, TEXAS<br />

By:<br />

Authorized Representative

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