Sec. 151.123 - Procedures: Offer; amendment;
acceptance; advance planning agreement.
(a) The procedures and requirements of
§151.29 also apply to approved advance planning proposals. FAA's offer and
the sponsor's acceptance constitute an advance planning grant agreement
between the sponsor and the United States. The United States does not pay
any of the advance planning costs incurred before the advance planning
grant agreement is executed.
(b) No grant is made unless the sponsor
intends to begin airport development within three years after the date of
sponsor's written acceptance of a grant offer. The sponsor's intention
must be evidenced by an appropriate written statement in the proposal.