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Overview 4
Overview of Grant Assurance Requirements ⢠What are Grant Assurances? o Requirements for Airport Sponsors incorporated in AIP Grant Agreements o 39 numbered Grant Assurances ⢠Two broad categories of requirements ⢠Requirements for general operation, management and finance of airports (General Requirements) ⢠Requirements applicable to planning and implementing AIP funded projects (Project Specific Requirements) ⢠Grant Assurance 1, General Federal Requirements includes statutes, Executive Orders and regulations in both categories 5
How long do the requirements last? ⢠Most Assurances, useful life of project, maximum 20 years ⢠Some Assurances, as long as the airport is operating (identified in individual Grant Assurance summaries) Generally Applicable ⢠Most requirements, until project is completed ⢠Some requirements must be completed before grant is issued Project Specific 6
What are the Consequences for Nonâ compliance? ⢠Withholding of future grants ⢠Withholding of payments on existing grants Generally Applicable ⢠Treble damages (reimbursing airport 3 times the amount of diverted revenue) ⢠Withholding of new PFC approvals ⢠Withholding of other DOT grant funds GA 25 Airport Revenues ⢠Withdrawal of grant offer ⢠Refusal of payments ⢠Sponsor reimbursement of prior payments Project Specific 7
