Item:
Title
Review and Approval of the Coronavirus Aid, Relief, and Economic Security Act (CARES) Grant (10min)
Body
Date of BOCC Meeting: May 4, 2020
Request for Board Action:
Agenda Text
The Board is requested to suspend the rules to vote and approve the funds received from the Coronavirus Aid, Relief, and Economic Security Act (CARES).
The Coronavirus Aid, Relief, and Economic Security Act (CARES) provides $10 billion in new funds for all airports that are considered part of the national airport system. RDU will receive $49,591,593 in CARES Act funds, which accounts for approximately 17% of our total annual budget. The funds will be used to help pay for debt service and a small fraction of Authority employee salaries. Under the CARES program, airports must maintain 90 percent of their workforce (after making adjustments for retirements or voluntary separations) through the end of 2020.
Alignment with Strategic Plan: This item aligns with the Strategic Goals of Durham County.
Resource Persons: Wendell Davis, County Manager; Ron Jewett, RDU Airport Authority Facilities Asset Management
County Manager’s Recommendation: The County Manager recommends that the Board suspends the rules to vote and approve the funds received from the Coronavirus Aid, Relief, and Economic Security Act (CARES).
Signature
County Manager: ____________________________