Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Airport Funding topic
No spam. Unsubscribe anytime.
Committee amends and forwards SFO CARES Act and AIP noise-insulation grant items to full Board
Summary
San Francisco International Airport officials told the committee they seek to amend AIP noise-insulation grant amounts and accept a $254.7 million CARES Act allocation; the committee amended item 8 and moved items 8 and 9 to the full Board with positive recommendations.
Kathy Widener of San Francisco International Airport presented two airport grant items to the Budget and Finance Committee on June 3 related to CARES Act and FAA Airport Improvement Program (AIP) funding.
Widener said Item 8 would retroactively authorize SFO to accept an expanded AIP noise-insulation grant and requested an amendment to reflect updated amounts. The amended noise-insulation program budget is approximately $12.8 million, with $5.2 million from the FAA, $2.6 million from CARES Act supplemental AIP funding and $5.0 million from airport revenue bonds. Item 9 seeks acceptance and expenditure of SFO’s CARES Act allocation, approximately $254.7 million, to address projected airport revenue shortfalls through FY21; Widener said the airport projects a $364 million shortfall through FY21 and plans to use the CARES funds partly for debt service.
The Budget Analyst recommended approval of item 8. The committee voted to approve the non-substantive amendment to item 8 and forward items 8 and 9 to the full Board with a positive recommendation.
What’s next: The amended resolutions will go to the full Board for final approval; the airport will use CARES funds as described in the airport recovery financial plan.
