Loading...
HomeMy WebLinkAbout5884RESOLUTION NO. 5884 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, AUTHORIZING THE MAYOR TO ACCEPT AN INITIAL OFFER OF FINANCIAL AID TO THE AUBURN AIRPORT FROM THE COMMUNITY AVIATION REVITALIZATION BOARD AND TO EXECUTE LOAN AGREEMENT 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 of Auburn Airport provides aircraft hangars for airport users and tenants. Airport management intends to add and/or to replace doors for several hangars to better serve the storage and security needs of airport users and tenants, and to enhance the value of airport property; and WHEREAS, an Airport T-Hanger Upgrades project (Project No. CP2518, the "Project") is included in the City's adopted Capital Facilities Plan; and and WHEREAS, the proposed Project is estimated to cost approximately $2,413,000; WHEREAS, the Airport budget has allocated $778,000 towards the completion of this Project and anticipates an additional $435,000 in Federal Aviation Administration grant funding through the recently passed Infrastructure Bill; and WHEREAS, in October of 2025, the City applied for, and was awarded, a CARB program loan to finance the Project; and Resolution No. 5844 December 30, 2025 Page 1 of 3 Rev. 2026 WHEREAS, the CARB loan is in the amount of $1,200,000.00 and has a 10-year payback term at 2% interest; and WHEREAS, given the favorable interest rate of the CARB loan and the need to finance the Project for the benefit of airport users and tenants, acceptance of the CARB loan to fund the Project is in the City's best interest; and WHEREAS, the annual loan payments of principal and interest shall be paid for from the Airport budget. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, RESOLVES as follows: Section 1. The Mayor is authorized on behalf of the City and Auburn Municipal Airport to accept the Community Aviation Revitalization Board's Offer of Financial Aid and to execute all necessary loan agreements required to finalize the CARB loan for the Project, for the loan terms as set forth herein. Section 2. The Mayor is authorized to implement those administrative procedures necessary to carry out the directives of this Resolution. Section 3. The City Clerk is authorized to make necessary corrections to this Resolution including, but not limited to, the correction of scrivener's/clerical errors, references, Resolution numbering, section/subsection numbers, and any references thereto. Resolution No. 5844 December 30, 2025 Page 2 of 3 Rev. 2026 Section 4. This Resolution will take effect and be in full force on passage and signatures. Dated and Signed: January 5, 2026 CITY OF AUBURN , yr� NANCY BACI� OR ATTEST: Shawn Campbell, MMC, City Clerk Resolution No. 5844 December 30, 2025 Page 3 of 3 Rev. 2026 Vicinity Map D C Auburn. gird St NE � Municipal Airport ` m V7 .11. C• . A WINa :.im 22rid St NE Enclose "open" SHERWIN-WILLIAMS hangar by installing interior walls and manual sliding doors. Days Inn -Auburn SUBWAY A Information shown is for general reference 0 500 1000 1: 6009 purposes only and does not necessarily fl represent exact geographic or cartographic data as mapped. The City of Auburn makes no WGS84 Web Mercator (Auxiliary Sphere) warranty as to its accuracy.