CARES Act grant will benefit NC Airport
The Nebraska City Municipal Airport is one of 71 Nebraska airports receiving CARES Adt funds from the U.S. Department of Transportation.
The airport will receive $20,000 from the Coronavirus Aid, Relief, and Economic Security Act Airport Grant Program. A total of $64,602,994 will be distributed, according to DOT Secretary Elaine L. Chao.
This funding will support continuing operations and replace lost revenue resulting from the sharp decline in passenger traffic and other airport business due to the COVID-19 public health emergency. The funds are available for airport capital expenditures, airport operating expenses including payroll and utilities, and airport debt payments.
“Thank you to the dedicated men and women from the FAA’s Office of Airports for creating an entirely new program in record time to assist airport sponsors in desperate need of these funds,” said FAA Administrator Steve Dickson.
The FAA encourages airport sponsors to spend the grant funds immediately to help minimize any adverse impact from the current public health emergency. Airport sponsors should work with their localFAA Office of Airports field office on the application and grant-agreement process.
The CARES Act also provides funds to increase the Federal share to 100 percent for grants awarded under the fiscal year 2020 appropriations for Airport Improvement Program (AIP) and Supplemental Discretionary grants. Under normal circumstances, AIP grant recipients contribute a matching percentage of the project costs. Providing this additional funding and eliminating the local share will allow critical safety and capacity projects to continue as planned regardless of airport sponsors’ current financial circumstances.
The FAA will use a streamlined application and grant-agreement process to make this funding immediately available for critical airport needs. The funds will be available as soon as the airport sponsor executes a grant agreement.