Graham, Olney to receive CARES funds for municipal airports
With President Trump signing the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020, there are $10 billion in funds to be awarded as economic relief to eligible U.S. airports, including Graham and Olney Municipal Airports.
“This $10 billion in emergency resources will help fund the continued operations of our nation’s airports during this crisis and save workers’ jobs,” U.S. Transportation Secretary Elaine L. Chao said in a press release.
Funding from the act is to assist with continue operations and the replacement of lost revenue from a decline in passenger traffic or other business which may have been a result of COVID-19 pandemic. The funding is available for airport capital expenditures, airport operating expenses including payroll and utilities and airport debt payments, according to a press release form the United States Department of Transportation.
The CARES Act will provide funds to airports across the country, with $811.53 million being distributed across Texas. Through the funding, Graham Municipal Airport will receive $30,000, Olney Municipal Airport will receive $1,000, Stephens County Airport will receive $30,000, Jacksboro Municipal Airport will receive $20,000 and Mineral Wells Regional Airport will receive $69,000.
For the full story, see the Saturday, April 18 edition of The Graham Leader.