Grant Assurance 6 requires airports to ensure consistency with plans for development around the airport. [1]https://www.faa.gov/airports/aip/grant_assurances/media/airport-sponsor-assurances-aip-2020.pdf The project is reasonably consistent with plans (existing at … Read More
Generally speaking, revenue generated by the airport, must stay with the airport. The basis of the US civil aviation system is founded upon the principle … Read More
Basics A budget is “the amount of money that is available for, required for, or assigned to a particular purpose“.[1]https://www.merriam-webster.com/dictionary/budget For an airport, the operating … Read More
Leases are contracts between parties to provide access to land, property, or a service from one party to another for a specified time period and … Read More
Airports in the United States are designed to be self-sustaining entities. The origins of civil aviation in the US laid the foundation for users of … Read More
Grant Assurance 4 – Good Title is a requirement that the airport sponsor holds the title to the airport where the federally funded project will … Read More
See Grant Assurances for the broad overview of the obligations on airports who receive federal funding. Grant Assurance 3 – Sponsor Fund Availability addresses the … Read More
As discussed previously, a Grant Assurance is an obligation that an airport agrees to when receiving federal funding. If you have not read the intro … Read More
As stated in Grant Assurances, the Airport Sponsor accepts the obligations and conditions of the Federal government in exchange for either property or money (Airport … Read More
Grant assurances are a method the Federal Aviation Administration (FAA) regulates and controls locally owned airports to ensure a return on their investment. By accepting … Read More
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