HomeMy WebLinkAboutM1984-0895 - 05/02/1984MOTIONS - 5/2/84
Approving the Airport Capital Improvement program.
M84 -0895
SEP 1 ca 1984
MICRon'LloiEp
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•
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ATTACHMENT N0. 14 City of Corpus
• TO Honorable Mayor & Council Members - . ' Date May 1, 1984
Edward A. Martin, City Manager and t L
FROM James K. Lontos, P.E., Assistant City Manager
SUBJECT Corpus Christi International Airport - Capital Improvement Projects
During the Council workshop of April 11, 1984, the Staff attempted to summarize the
status of the Airport Capital Improvement Program in terms of projects that are
definitely scheduled for 1983 -84 and 1984 -85, and also included essential projects
not approved by bonds that the Council could schedule either after 84 -85, or now,
provided adequate local and FAA financing is available.
The desires of the Council and the Airport Advisory Board have been received by
the Staff, and the list below is intended to summarize not only those projects
scheduled for 83 -84 and 84 -85, but combines those listed as essential and needed
in the program for the next two years. This is made possible since it is intended
to sell certificates of obligation and combined with bonds to complete the program.
I have put together, therefore, a two -year program to utilize maximum FAA partici-
pation and maximum utilization of all available City resources in terms of bond
funds and certificates of obligation.
FY 83 -84 SCHEDULED PROJECTS
CERTIFICATES
TOTAL
ESTIMATE
OF
BONDS
CITY
FAA
OBLIGATION
FUNDS
FUNDS
•
1)
Apron Expansion and Hangar
Site Improvements
$ 887,931
$ -0-
$103,000
$166,598*
$ 721,333
2)
West Concourse /Holdroom
520,000
-0-
260,000
364,000*
156,000
3)
Nest Concourse A/C
200,000
100,000
-0-
100,000
100,000
4)
East Concourse A/C
356,300
178,150
-0-
178,150
178,150
5)
Parking Revenue Control
60,000
60,000
-0-
60,000
-0-
6)
Service Court Expansion
100,000
-0-
-0-
50,000
50,000
$2,124,231
$338,150
$363,000
$918,748
$1,205,483
*
The needed funds to balance the City's portion will come from the $190,000±
available to be reprogrammed.
FY
84 -85 SCHEDULED PROJECTS
CERTIFICATES
TOTAL
ESTIMATE
OF
BONDS
CITY
FAA
OBLIGATION
FUNDS
FUNDS
1)
Terminal Expansion
$1,125,000
$ -0-
$900,000
$ 787,000
$ 338,000
2)
Crash Fire Rescue Vehicle
250,000
-0-
-0-
25,000
225,000
3)
Roof Replacement - Terminal
354,166
354,166
-0-
354,166
-0-
4)
Air Conditioning System
Replacement
135,000
135,000
-0-
135,000
-0-
5)
Landscaping Study
10,000
10,000
-0-
10,000
-0-
6)
Landscaping
50,000
50,000
-0-
50,000
-0-
7)
Airport Graphics
203,000
101,500
-0-
101,500
101,500
8)
Land Acquisition
706,110
-0-
70,610
70,610
635,500
•
$2,833,276
$650,666
$970,610
$1,583,276
$1,300,000
ward A- Martin •
pus Christi International Airport - Capital Improvement Projects
e No. 2
• BEYOND 1984 -85
ESTIMATE BONDS FAA FUNDS
1) Land Acquisition $2,293,900 $229,390 $2,064,510
The above item is simply listed to utilize the remaining funds of the $300,000
approved in the bond election in land acquisition.
The list simply denotes schedule and priority that we believe makes sense. You can
see air conditioning of the west concourse and air conditioning of the existing
concourse has been moved up, together with the parking lot revenue control system
and the crash fire rescue vehicle, which are essential to the years 83 -84. Three
of the four additions must be funded with certificates of obligation. The difference
in the local funds for the apron and west concourse expansion, as well as the
service court, should be funded from the $190,000 which is available through projects
completed and extra funds from the Terminal expansion. This allocation balances
out, in the Staff's opinion, the maximum of utilization of FAA funds, moves the
air conditioning of the west concourse up to this year and continues the program
as planned for 83 -84.
In terms of 84 -85, the remainder of projects in the bond program, plus those that
are shown on the essential list submitted on April 11, 1984, are all scheduled for
84 -85 to be funded with the bonds available and the remainder of certificates of
obligation.
• One action which is noteworthy at this point is the fact that land acquisition
has been deleted from 83 -84 and moved to 84 -85 and the years beyond, since it appears
that land acquisition will be needed in 84 -85 and beyond to balance the FAA allocation.
The Staff believes this is a schedule that makes sense and could be doable in the
next two years and, therefore, recommends its approval.
In terms of funding, Staff assumes the issuance of $1,000,000 in certificates of
obligation to be retired in 20 years at 107, interest. This would result in a debt
retirement schedule of approximately $120,000 /year of which the pledging of parking
lot revenues of approximately $75,000 /year plus $45,000 from property tax is recommended.
James K. Lon os, P.E.
i
Extension 385
JKL /ajr
cc: Jerry L. Sealy
Gerald Smith, P.E.
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