Understanding FAA Grant Assurance Obligations Volume 4: Summary of AIP Grant Assurance Requirements (2018) / Chapter Skim
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Overview 4
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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)
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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)
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What are the Consequences for Non‐ compliance? • Withholding of future grants • Withholding of payments on existing grants Generally Applicable • Treble damages (reimbursing airport 3 times the amount of diverted revenue)
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