HomeMy WebLinkAbout5738 (2)RESOLUTION NO. 5738
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
AUBURN, WASHINGTON, AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE AN AMENDMENT TO THE LOAN
AGREEMENT BETWEEN THE CITY OF AUBURN (THE CITY)AND
THE COMMUNITY AVIATION REVITALIZATION BOARD
RELATING TO PROJECT NO. CP2201, AIRPORT T-HANGAR
UPGRADES
WHEREAS, RCW 47.68.460 establishes the Washington State
Department of Transportation (DOT) community Aviation Revitalization Board
CARB) loan program. The program's purpose is to furnish DOT financial loans
to public use airports for airport improvements that support general aviation
activities. Loans through the CARB program are offered to qualified airports at
favorable interest rates; and
WHEREAS, the City previously accepted a $750,000 loan from CARB
through Resolution No. 5641 for this project; and
WHEREAS, the constructions costs of the project came in slightly above
the available project budget and the City requested a 10% increase to the loan
amount per the policies of the CARB loan program; and
WHEREAS, on September 7, 2023, the CARB awarded the increase to the
City; and
Resolution No. 5738
September 15,2023
Page 1
WHEREAS, it is in the best interest of the City to use low interest loan
monies to finance capital improvements to the Airport Hangars which will
generate an increase in revenue to the Airport once completed.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
AUBURN, WASHINGTON, HEREBY RESOLVES as follows:
Section 1. The Mayor and City Clerk are hereby authorized to execute a
loan amendment between the City and the Community Aviation Revitalization
Board, in substantial conformity with the agreement attached hereto, marked as
Exhibit "A" and incorporated herein by this reference.
Section 2. The Mayor is hereby authorized to implement such
administrative procedures as may be necessary to carry out the directions of
this legislation.
Resolution No. 5738
September 15,2023
Page 2
Section 3. That this Resolution shall take effect and be in full force upon
passage and signatures hereon.
Dated and Signed this 2nd day of October, 2023.
CITY OF AUBURN
NJ'
bAtk
CY B AUS
MAYOR
ATTEST:
4
ftr: hawn Campbell,
City Clerk
AP, OV A 91-0—FORIVI:
Harry Boesche,
Acting City Attorney
Resolution No. 5738
September 15,2023
Page 3
EXHIBIT C, ESTIMATED LOAN REPAYMENT SCHEDULE - CITY OF AUBURN
ENTER VALUES LOAN SUMMARY
Loan amount 825,000.00 Scheduled payment 91,844.39
Annual interest rate 2.00% Scheduled number of payments 10
Loan period in years 10 Actual number of payments 20
Number of payments per year 1 Total early payments 0.00
Start date of loan 1/1/2025 Total interest 93,443.85
Optional extra payments 0.00 LENDER NAME CARB/WSDOT-Aviation Division
r ` 4
R iN
F 1N r
PMT ' "iPAYMENT ' BEGINNING • SCHEDULED EXTRA.. TOTAL' ENDING GUM A ,
NO •' .DATE, ' • BALANCE • PAYMENT PAYMENT . PAYMENT
S" r'
BALANCE
ry
INTERESTa
1NC;IPAL; TERE
A
1 1/1/2025 825,000.00 91,844,39 0.00 $91,844,39 $75,344.39 16,500,00 $749,655,61 16,500,00
2 1/1/2026 :. $749,655.61 :. 91,844:39 0.00 $91,844.39 $76,851.27 14,993.11 $672,804.34 31,493.11
3 1/1/2027 672,804.34 91,844.39 0.00 $91,844.39 $78,388.30 13,456.09 $594,416.04 44,949.20
4 1/1/2028 594,416.04 91,844,39 0.00 $91,844.39 $79,956.06 11,888.32. $514,459.98 56,837.52
5 1/1/2029 514,459.98 91,844.39 0.00 $91,844.39 $81,555.19 10,289.20 $432,904.79 67,126.72
6 1/1/2030 432,904.79 91,844.39 : 0.00 $91,844:39 $83,186.29 8,658.10 $349,718.50 75,784.82
7 1/1/2031 349,718.50 91,844.39 0.00 $91,844.39 $84,850.02 6,994.37 $264,868.49 82,779.19
8 1/1/2032 264,868:49 91,844.39 0.00 $91,844,39 $86,547.02 5,297.37 . $178,321.47 88,076.56
9 1/1/2033 178,321.47 91,844.39 0.00 $91,844.39 $88,277.96 3,566.43 $90,043.52 91,642.98
10' . 1/1/2034 _ $90,043:52.. 91,844.39 0:00 $91,844.39. _ $90,043.52 1,800.87 0.00 93,443.85
918,443.85 $825,000.00 93,443.85
Exhibit E
AUBURN
MUNICIPALxxu»nu ox—mu~
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AUBURN, WASHINGTON
September 1, 2023
Dear CARB Board:
The Auburn Airport recently opened bids for the T Hangar Enclosure Project which the Airport currently
has a $750,000 CARB Loan for. The low bid for the project with General Mechanical, Inc. was
1,648,371.60 (see attached bid proposal).The airport is requesting an additional 10%of the original
loan amount in order to complete the entire scope of the project.
Funding of the project breakdown:
CARB Loan: 750,000
Airport Fund: 625,000
FAA BIL Funds: 587'000
Total: 1,962,000
Project Estimate: 2,004,000 (includes design &construction management)
Difference:42,000
The additional$75,000 from the CARB Loan will make up the difference of$42,000 and cover
contingencies and possible over runs. Completing the full scope of the project will allow the airport to
increase revenue in both the G and J hangar rows by fully enclosing G row and upgrading the doors on J
row/.
Construction is estimated to begin within the next couple months.
Respectfully,
Ingrid Gaub
City of Auburn
Public Works Director
2143 E ST NE, SUITE 1 I AUBURN, WA 98002 I 253-333-6821
Page 7 of 9
PROPOSAL FORM
Airport T-Hangar Upgrades
Contract No. 23-11 Project No. CP2201
Bid Summary:
Subtotal Schedule A 833
WA State Sales Tax Schedule A.(10.2%.) OZ-7 20
Subtotal Schedule B
WA State Sales Tax.Schedule B (10.2%) 5O."
Subtotal Schedule C J, COO
WA State Sales Tax Schedule C (10.2%) Ain:er
Subtotal Schedule D L '
WA State Sales.Tax Schedule D (10:2%°) 6zez, Q7
Subtotal Schedule E 000
9
WA State Sales.Tax.Schedule E (10.2%) 174,..i5V0,040
Total Sales Tax 52,671,6a..
Total Gross Base Bid. (Subtotal Schedule A + WA State Sales Tax Schedule A)
Total Gross Base Bid and. Additive Bids
Subtotal Schedule A + Subtotal Schedule B + Subtotal Schedule "C + Subtotal Schedule D +
Subtotal Schedule E + Total Sales Tax)
I 64, 3'7
The Basis.of Award shall be the Totalross Base Bid (Subtotal Schedule A + WA
State Sales Tax Schedule A) only.
If sales tax is shown for a schedule above sales tax should not be included in bid item
prices for that schedule (Rule 170).
If sales tax isnot identified above Contractor shall include appropriate sales tax. in each
bid item price as applicable (Rule 171)..
FIRM NAME eneffed Aleph .`.. ..,.I R