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\u201cThis $10 billion in emergency resources will help fund the\ncontinued operations of our nation\u2019s airports during this crisis and save\nworkers\u2019 jobs,\u201d said U.S. Transportation Secretary Elaine L. Chao. <\/p>\n\n\n\n
In less than two weeks since the bill was signed into law,\nthe U.S. Department of Transportation\u2019s Federal Aviation Administration (FAA)\nis ready to deliver CARES Act grants to eligible airports throughout the\nnation. The grants will provide economic relief to airports around the country\naffected by the COVID-19 public health emergency.<\/p>\n\n\n\n
\u201cThank you to the dedicated men and women from the FAA\u2019s\nOffice of Airports for creating an entirely new program in record time to\nassist airport sponsors in desperate need of these funds,\u201d said FAA\nAdministrator Steve Dickson. <\/p>\n\n\n\n
This funding will support continuing operations and replace\nlost revenue resulting from the sharp decline in passenger traffic and other\nairport business due to the COVID-19 public health emergency. The funds are\navailable for airport capital expenditures, airport operating expenses\nincluding payroll and utilities, and airport debt payments.<\/p>\n\n\n\n
The FAA encourages airport sponsors to spend the grants\nfunds immediately to help minimize any adverse impact from the current public\nhealth emergency. Airport sponsors should work with their local FAA Office of\nAirports field office on the application and grant-agreement process. <\/p>\n\n\n\n
The CARES Act also provides funds to increase the Federal\nshare to 100 percent for grants awarded under the fiscal year 2020\nappropriations for Airport Improvement Program (AIP) and Supplemental\nDiscretionary grants. Under normal circumstances, AIP grant recipients\ncontribute a matching percentage of the project costs. Providing this\nadditional funding and eliminating the local share will allow critical safety\nand capacity projects to continue as planned regardless of airport sponsors\u2019\ncurrent financial circumstances.<\/p>\n\n\n\n
The FAA will use a streamlined application and\ngrant-agreement process to make this funding immediately available for critical\nairport needs. The funds will be available as soon as the airport sponsor\nexecutes a grant agreement. <\/p>\n\n\n\n
The CARES Act provides new funds distributed by various\nformulas for all airports that are part of the national airport system. This\nincludes all commercial service airports, all reliever airports and some\npublic-owned general aviation airports. <\/p>\n\n\n\n