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HomeMy WebLinkAboutMINUTES - 06131995 - 1.11 TO: BOARD OF SUPERVISORS FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR DATE: June 13, 1995 SUBJECT: AUTHORIZATION TO ACCEPT THE CALTRANS LOAN AGREEMENT IN THE AMOUNT OF $558,000 FOR THE CONSTRUCTION OF T-HANGARS AT THE CONTRA COSTA COUNTY-BYRON AIRPORT SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION I. Recommended Action: APPROVE and AUTHORIZE the Public Works Director to EXECUTE, on behalf of the County, the California Airport Loan Agreement dated May 22, 1995, under the terms and conditions more particularly set forth in said Loan Agreement. II. Financial Impact: Repayment of the loan will be over a fifteen (15) year period at an annual interest rate of 6.0629 percent with the first payment due one year from the date the warrant is issued. The loan will be repaid with hangar rents. III. Reasons for Recommendations and Background: On March 14,1995, the Board of Supervisors authorized the Public Works Director to apply, on behalf of the County, to Caltrans' Division of Aeronautics for a loan of $600,000 to build twenty-eight (28) T-Hangars at the Byron Airport. IV. Consequences of Negative Action: T-Hangar development may not occur at the Byron Airport resulting in reduced income to the Airport Enterprise Fund. The lack of T-Hangar development will not satisfy current demand for hangared space and will not attract additional tenants to the Byron Airport. Continued on Attachment: SIGNATURE: _RECOMMENDATION OF COUNTY ADMINISTRATOR _RECOMMENDATION OF BOARD COMMITTEE APPROVE OTHER SIGNATURE(S): ACTION OF BOARD ON — APPROVED AS RECOMMENDED OTHER VOTE OF SUPERVISORS V/ UNANIMOUS (ABSENT ) AYES: NOES: ABSENT: ABSTAIN: HEW:DRA:sh t hereby certify that this is a true and Correct Copy of c:bol3.t6 an action taken and entered on the minutes of the Board of Superviso s on the date shown. Orig Div:Airports (Dick Awenius 6-5722) ATTESTED: _1.3 9 cc: County Administrator PHIL B HELOR,Clerk of the Board Public Works Director of Supe ors and County Administrator Public Works Accounting - Auditor/Controller 8y Aviation Advisory Committee (via A/P) p�Y Federal Aviation Administration (via A/P) Caltrans Division of Aeronautics (via A/P)