74.4 F
Fort Worth
Monday, September 28, 2020
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Government Council Report: Alliance contract amended

Council Report: Alliance contract amended

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ALLIANCE CONTRACT AMENDED

The Fort Worth City Council, at Tuesday’s final meeting of 2019, approved an amendment to the contract with Alliance Air Managment Ltd. (AllianceAir) for the management, operation and maintenance of Alliance airport.

Thanks to the amendment AllianceAir will advance and exercise the current 10-year contract extension, along with a new extension in place until 2053, contingent on a major investment of $30 million by AllianceAir. The change addressed a need to have the ability to finance a planned significant investment to develop a state-of-the-art fixed base operations facility and other improvements in existing facilities on the airport.

“There’s a little more autonomy, I guess you could say,” District 7 Councilman Dennis Shingleton said. “It gives them latitude to make some unilateral decisions.”

The extension to 2053 would be automatically reduced to the original 2033 date, with optional extensions, if the development with a minimum investment of $30 million is not completed by Dec. 31, 2028. If the FBO is not completed as outlined, the additional extensions would be at the city’s option.

Additionally, AllianceAir is proposing to change the current operating airport revenue split with the city. Under the current contract, the city retains 25% of airport revenue while AllianceAir receives 75%. The proposed change reduces the AllianceAir portion to 65% and increases the City portion 35%.

Of the city’s revenue, 10% will be segregated for capital projects at the airport as approved by the city in an annual capital plan.

Changes to the revenue share will begin on Jan. 1.

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