Texarkana Airport transfers $491,597 in FAA entitlements to Fort Smith to close terminal grants

The Texarkana City Council approved a resolution authorizing the Texarkana Regional Airport executive director to sign FAA Form 5100-110 to transfer $491,597 in entitlement funds to the Fort Smith Airport Commission. Airport Executive Director Paul Merrick told the council the terminal project’s grants are being closed and that the FAA allows airports to transfer unused entitlement funds to another airport that would otherwise expire after three years. Merrick said Fort Smith had entitlements nearing expiration and agreed to transfer roughly $491,597 to help Texarkana close change orders and finalize grants; Texarkana would return an equivalent entitlement amount in the following year when the Fort Smith project is completed. Merrick said the transfer requires no additional local funds and helps both airports by preventing expiration of banked entitlements. Council took the resolution on a motion by Council Member Meador, seconded by Council Member Davis; the council approved by voice vote.