| | | | | | | | BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT |
| | | | | | | | Item No. 12.
For Meeting of: June 6, 2023 |
| | | | | | | | | ITEM TITLE: | Resolution authorizing an agreement with Yakima County Development Association (YCDA) to establish and manage a Minimum Revenue Guarantee Airline Fund | | SUBMITTED BY: | Jaime Vera, Airport Operations and Maintenance Manager |
| SUMMARY EXPLANATION: | | Alaska requires a Minimum Revenue Guarantee to bring additional service to Yakima in an amount not to exceed $500,000.00, which funds are dedicated to fund loss of revenue to Alaska Airline during its one-year term of the additional scheduled flight and the Yakima County Development Association has agreed to assist in the establishment and management of the Minimum Revenue Guarantee Airline Fund |
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| | | | | | | | | ITEM BUDGETED: | Yes | | STRATEGIC PRIORITY: | Economic Development |
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| | | | | | | | APPROVED FOR SUBMITTAL BY THE CITY MANAGER
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| | | | | | | | | RECOMMENDATION: | | Adopt resolution. |
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| ATTACHMENTS: | | Description | Upload Date | Type |  | Resolution | 6/2/2023 | Cover Memo | | Contract | 5/31/2023 | Contract |
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