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WHAT ARE GRANT ASSURANCES?
When airport owners or sponsors, planning agencies, or other organizations accept funds from Federal Aviation Administration administered airport financial assistance programs, they must agree to certain obligations (or assurances). These obligations require the recipients to maintain and operate their facilities safely and efficiently and in accordance with specified conditions.
The assurances may be attached to the application or the grant for Federal assistance and become part of the final grant offer or in restrictive covenants to property deeds. The duration of these obligations depend on the type of recipient, the useful life of the facility being developed, and other conditions stipulated in the assurances.
(Reference: http://www.faa.gov/airports/aip/grant_assurances)
When airport owners or sponsors, planning agencies, or other organizations accept funds from Federal Aviation Administration administered airport financial assistance programs, they must agree to certain obligations (or assurances). These obligations require the recipients to maintain and operate their facilities safely and efficiently and in accordance with specified conditions.
The assurances may be attached to the application or the grant for Federal assistance and become part of the final grant offer or in restrictive covenants to property deeds. The duration of these obligations depend on the type of recipient, the useful life of the facility being developed, and other conditions stipulated in the assurances.
(Reference: http://www.faa.gov/airports/aip/grant_assurances)
WHAT ARE THE MAJOR OBLIGATIONS OF
AIRPORTS WHEN ACCEPTING FEDERAL MONEY?
The following list includes some of the major obligations an airport owner can incur when accepting a Federal airport development grant.
AIRPORTS WHEN ACCEPTING FEDERAL MONEY?
The following list includes some of the major obligations an airport owner can incur when accepting a Federal airport development grant.
WHAT ARE THE SOURCES OF OBLIGATIONS?
When airports receive Federal assistance, their owners or sponsors accept certain obligations and conditions, which may be incurred by contract or by restrictive covenants in property deeds. This generally involves the following:
Grant agreements issued under Federal grant programs
Instruments of approved property transfers
Deeds of conveyance
When Airport owners and operators accept Federal grants, they agee to preserve and operate their facilities in a safe and efficient manner and comply with certain conditions and assurances. These obligations can span different airport development grant programs, including the Federal Aid to Airports Program (FAAP), the Airport Development Aid Program (ADAP), and the Airport Improvement Program (AIP). Airport owners should be aware that obligations incurred under each program or conveyance document vary.
(Reference: http://www.faa.gov/airports_compliance/overview)
When airports receive Federal assistance, their owners or sponsors accept certain obligations and conditions, which may be incurred by contract or by restrictive covenants in property deeds. This generally involves the following:
Grant agreements issued under Federal grant programs
Instruments of approved property transfers
Deeds of conveyance
When Airport owners and operators accept Federal grants, they agee to preserve and operate their facilities in a safe and efficient manner and comply with certain conditions and assurances. These obligations can span different airport development grant programs, including the Federal Aid to Airports Program (FAAP), the Airport Development Aid Program (ADAP), and the Airport Improvement Program (AIP). Airport owners should be aware that obligations incurred under each program or conveyance document vary.
(Reference: http://www.faa.gov/airports_compliance/overview)
Prohibition of exclusive rights
Use of airport revenue
Proper maintenance and operation of airport facilities
Protection of approaches
Keeping good title of airport property
Compatible land use
Availabilty of fair and reasonable terms without unjust discrimination
Adhering to the approved airport layout plan
Self-sustainability
Sale or disposal of Federally acquired property
Using acceptable accounting and record-keeping systems
Compliance with civil rights requirements
Use of airport revenue
Proper maintenance and operation of airport facilities
Protection of approaches
Keeping good title of airport property
Compatible land use
Availabilty of fair and reasonable terms without unjust discrimination
Adhering to the approved airport layout plan
Self-sustainability
Sale or disposal of Federally acquired property
Using acceptable accounting and record-keeping systems
Compliance with civil rights requirements
The FAA encourages airport owners to review each agreement and conveyance document to ensure that they understand their obligations. Keeping good records will allow them to quickly reference incurred obligations. Further, annual reviews of all agreements will aid efforts in complying with incurred Federal obligations.
(Reference: http://www.faa.gov/airports/airport_compliance/overview/)
(Reference: http://www.faa.gov/airports/airport_compliance/overview/)
$70 Million in New Investment
$382 Million 20-Year Impact to Ormond Beach
1800 20-Year Total New Job Effect to Region
$2.0 Million New State & Local Taxes Upon Completion of First Year of Operations
Robust Operations Facility - Not Just Aircraft Storage Hangars
800 Years Total Airport
Development, Engineering & Aviation Team Experience
100+ Years Total Military Command, Control, Operational, Flight & Ground Experience
Robust Aircraft Noise Abatement Program
Protects City from Financial Risk and Liability
No Ormond Beach Funds Required for Financing of Development
$382 Million 20-Year Impact to Ormond Beach
1800 20-Year Total New Job Effect to Region
$2.0 Million New State & Local Taxes Upon Completion of First Year of Operations
Robust Operations Facility - Not Just Aircraft Storage Hangars
800 Years Total Airport
Development, Engineering & Aviation Team Experience
100+ Years Total Military Command, Control, Operational, Flight & Ground Experience
Robust Aircraft Noise Abatement Program
Protects City from Financial Risk and Liability
No Ormond Beach Funds Required for Financing of Development
