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Agenda Item: Approval for submittal of a grant application to the Federal Aviation Administration <br /> in the amount of $3,605,250.00 for the construction phase of improvements including relocation of <br /> the airfield electrical vault, upgrading of the emergency generator, and installation of lighting for <br /> Taxiway E at Ernest A. Love Field/Prescott Municipal Airport <br /> ADOT has funded 90% of the design phase costs; the 10% balance was approved in the <br /> City's adopted FY15 Airport Fund budget. This grant application to FAA will fund up to <br /> $3,605,250.00 (95%) of the construction costs currently estimated at <br /> $3,795,000.00. ADOT anticipates funding 2.5% of the construction in FY16, at which <br /> time the City will also be required to contribute 2.5% ($94,875.00) from the Airport Fund <br /> in FY16. It is anticipated the construction phase will be publicly bid in June 2015. <br /> Financial Impact <br /> As mentioned, the FAA will reimburse the City of Prescott 95% of the construction costs <br /> up to $3,605,250.00, with ADOT contributing 2.5% ($94,875.00) in FY16 and the City's <br /> Airport Fund contributing the remaining 2.5% ($94,875.00) in FY16. <br /> Recommended Action: MOVE to approve the submittal of a grant application to the <br /> 1Federal Aviation Administration in the amount of$3,605,250.00 for the construction phase, <br /> of improvements including relocation of the airfield electrical vault, upgrading of the <br /> emergency generator, and installation of lighting for Taxiway E at Ernest A. Love', <br /> Field/Prescott Municipal Airport. <br /> 2 <br />