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OverviewÂ ofÂ GrantÂ AssuranceÂ Requirements â¢ WhatÂ areÂ GrantÂ Assurances? o RequirementsÂ forÂ AirportÂ SponsorsÂ incorporatedÂ inÂ AIPÂ GrantÂ Agreements o 39Â numberedÂ GrantÂ Assurances â¢ TwoÂ broadÂ categoriesÂ ofÂ requirements â¢ RequirementsÂ forÂ generalÂ operation,Â managementÂ andÂ financeÂ ofÂ airports (GeneralÂ Requirements) â¢ RequirementsÂ applicableÂ toÂ planningÂ andÂ implementingÂ AIPÂ fundedÂ projects (ProjectÂ SpecificÂ Requirements) â¢ GrantÂ AssuranceÂ 1,Â GeneralÂ FederalÂ RequirementsÂ includesÂ statutes, ExecutiveÂ OrdersÂ andÂ regulationsÂ inÂ bothÂ categories 5
HowÂ longÂ doÂ theÂ requirementsÂ last? â¢ MostÂ Assurances,Â usefulÂ lifeÂ ofÂ project,Â maximumÂ 20 years â¢ SomeÂ Assurances,Â asÂ longÂ asÂ theÂ airportÂ isÂ operating (identifiedÂ inÂ individualÂ GrantÂ AssuranceÂ summaries) GenerallyÂ Applicable â¢ MostÂ requirements,Â untilÂ projectÂ isÂ completed â¢ SomeÂ requirementsÂ mustÂ beÂ completedÂ beforeÂ grant isÂ issued ProjectÂ Specific 6
WhatÂ areÂ theÂ ConsequencesÂ forÂ Nonâ compliance? â¢ WithholdingÂ ofÂ futureÂ grants â¢ WithholdingÂ ofÂ paymentsÂ onÂ existingÂ grants GenerallyÂ Applicable â¢ TrebleÂ damagesÂ (reimbursingÂ airportÂ 3Â timesÂ theÂ amountÂ of divertedÂ revenue) â¢ WithholdingÂ ofÂ newÂ PFCÂ approvals â¢ WithholdingÂ ofÂ otherÂ DOTÂ grantÂ funds GAÂ 25Â AirportÂ Revenues â¢ WithdrawalÂ ofÂ grantÂ offer â¢ RefusalÂ ofÂ payments â¢ SponsorÂ reimbursementÂ ofÂ priorÂ payments ProjectÂ Specific 7