HomeMy WebLinkAboutMINUTES - 02231993 - 1.29 TO: BOARD OF SUPERVISORS 21
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: FEBRUARY 23, 1993
SUBJECT: CALIFORNIA DEPARTMENT OF TRANSPORTATION DIVISION OF AERONAUTICS LOAN
APPLICATION IN THE AMOUNT OF $340,000 FOR CONTRA COSTA COUNTY-BYRON
AIRPORT DEVELOPMENT
SPECI[7C REQUEST(S)OR RECOMMENDA711ON(S) &BACKGROUND AND.IUMFICAMN
I. Recommended Action:
AUTHORIZE the Public Works Director.to apply to the California Department of Transportation
Division of Aeronautics to borrow the sum of$340,000 which is the local share for the Contra Costa
County-Byron Airport Federal Development Grant (AIP 3-06-0008-07); and
AUTHORIZE the Public Works Director to sign the Loan Agreement.
111. Financial Impact:
Repayment is based on a twenty year repayment schedule with the first payment due one year from
date loan is granted. The interest rate is the most current State of Calfornia Bond Rate as of the
date of the loan.
1111. Reasons for Recommendations and Background:
The Board of the Supervisors approved FAA Grant application in the amount of$11,935,800 on May
21, 1991. The purpose of this loan is to cover the Airport's local share of this project. The revenue
generated into the State Aeronautics Fund by this loan program increases the fund for future State
Aeronautics development programs.
The Public Works Department will receive $3,060,000 from the Federal Aviation Administration on
or before the end of June 1993. To this date, the pending grant of$340,000 of the approximate $3
million the County will have received, ,545.0 in i construction related grants.
Continued on Attachment: SIGNATURE:
,Z N94�!� , -
_RECOMMENDATION OF COUN'T'Y ADMINISTRATOR' RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON FE APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
_✓UNANIMOUS (ABSENT I )
AYES: NOES:
ABSEN'T': ABSTAIN: I hereby certify that this is a true and correct copy 1Y
an action taken and entered on the minutes of the
HEW:: 3oard of Supervisors on the date shown.
c23b.t2 1993
ATTESTED: _10_23
Ori Div: Airports PHIL BATCHELOR,Clerk of the Board
g P of Supervisors and County Administrator
cc: County Administrator
Public Works Director
Public Works Accounting BYDeputy
Public
Auditor/Controller
Aviation Advisory Committee
Federal Aviation Administration