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Pages 77-103

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From page 77...
... Questionnaire To Airport Sponsors The survey below was distributed to airport sponsors of nominated case study airports. Dear Airport Sponsor, On behalf of the Transportation Research Board of the National Academies, RW Armstrong is compiling a Guidebook on the Best Management Practices for Leasing and Developing Airport Property.
From page 78...
... SOURCE: RW Armstrong, 2009. Project Overview Collin County Regional Airport is owned by the City of McKinney and is located in the northeast corner of the Dallas-Fort Worth Metroplex.
From page 79...
... EDS/HP is expected to generate approximately $681,500 per year in Business Personal Property and Real Estate tax. The local community reaps a large share of the benefits resulting from this project.
From page 80...
... Monroe County Airport (BMG) Airport Type: General Aviation Tenant: Multiple Type of Business: Aircraft Storage Facility Location: Airside 80 Guidebook for Developing and Leasing Airport Property SOURCE: Monroe County Airport.
From page 81...
... Adjustments are typically made every 3-5 years, and might be tied to the Consumer Price Index (CPI) , whereby rental adjustment will be equal to the percentage change in CPI for the period prior to the last changes in rental rate.
From page 82...
... Coastal Carolina Regional Airport (EWN) Airport Type: Non-Hub Tenant: Tidewater Air Type of Business: Fixed-Base Operator Facility Location: Airside 82 Guidebook for Developing and Leasing Airport Property SOURCE: RW Armstrong, 2009.
From page 83...
... Airport Sponsor: Coastal Carolina Regional Airport Authority provided the land, infrastructure, access, and utilities for the project. The Authority was also responsible for the design and construction of all Horizontal elements for this project and for the demolition of the existing terminal.
From page 84...
... 84 Guidebook for Developing and Leasing Airport Property SOURCE: http://www.flickr.com/photos/chchchacos/2968580859/ SOURCE: http://www.bridgew.edu/aviation/ Project Overview The City of New Bedford in southeastern Massachusetts is home to New Bedford Regional Airport (EWB) and Bridgewater State University.
From page 85...
... Airport Type: Small-Hub Tenant: HondaJet East Type of Business: Factory Service and Sales Center Facility Location: Airside Case Studies 85 SOURCE: Business Images, New York's Tech Valley, November 5, 2008 SOURCE: www.Honda.com
From page 86...
... Key Lease Elements The lease for this project consists of an agreement between Flight Jets East, Inc., dba HondaJet East and the Albany County Airport Authority. The Authority leases the Airport from Albany 86 Guidebook for Developing and Leasing Airport Property
From page 87...
... Lease Extension: If HondaJet East wishes to exercise its option for a lease extension, they must begin negotiations for upgrades to their improvements 23.5 years after the commencement date of the lease agreement. Rent: HondaJet's total rent is the sum of the base rent and a maintenance rent.
From page 88...
... Project Overview Baton Rouge Metropolitan Airport (BTR) purchased a 498-acre parcel of undeveloped land east of the airport in order to realign a four-lane road to meet FAA Runway Safety Area (RSA)
From page 89...
... State of Louisiana: Arranged for $27 million in Gulf Opportunity Zone Bonds. Office of the Mayor: Originally approached BTR to discuss the availability of the land adjacent to the airport.
From page 90...
... At the writing of this report, three buildings totaling more than 700,000 square feet are either completed or are under construction. Knepper Press, a printing company, is one of the tenants in the commerce park.
From page 91...
... Knepper Press has leased enough land to expand the facility up to 175,000 square feet, enabling it to increase operations. Knepper Press also receives a tax break from the state for new employees, and was not charged ground rent during the construction period.
From page 92...
... The Airport and Alaska CargoPort agreed on a unique situation in which the Airport would act as a conduit for Alaska CargoPort. The Airport took ownership of the facility, which consisted of approximately 200,000 square feet of warehouse, maintenance buildings, offices, and crew quarters, as well as all-weather aircraft parking for 12,747 freighters and was able to obtain tax exempt financing.
From page 93...
... Improvements: Alaska CargoPort is required to substantially complete development and improvements within 3 years. The minimum value of improvements is $10 million, and the facility must be no less than 100,000 square feet with five wide-body aircraft parking positions.
From page 94...
... . Dallas-Fort Worth International Airport (DFW)
From page 95...
... The LLC, in turn, is responsible for maintaining and operating the CRCF, including bus operation. • Ground rent is paid by operators pro rata (based on the number of parking spaces and the square footage of the area each operator occupies)
From page 96...
... The Authority enlisted the support of the Hillsborough County Economic Development Corporation (formerly the Greater Tampa Chamber of Commerce Committee of 100) to assist in the marketing of the facility, and to identify a package of available financial incentives to help lure prospective tenants.
From page 97...
... Tampa Hillsborough EDC is officially recognized by Enterprise Florida as Hillsborough County's primary business recruitment/retention team, and part of an economic development alliance with Hillsborough County and the cities of Tampa, Plant City, and Temple Terrace, as well as various private investors. Governor's Office of Tourism, Trade and Economic Development (OTTED)
From page 98...
... Should the 1.3% of revenue not exceed the $75,000 minimum, the Airport Sponsor will credit the surplus paid to the next period's minimum facility rent. If at the end of the 12-month period the 1.3% of gross revenue exceeds the $300,000 minimum, the Airport Sponsor retains the funds.
From page 99...
... Case Studies 99 sales and use tax exemptions on aircraft parts, modification, maintenance and repair, sale, or lease of qualified aircraft. Airport Benefits and Revenue In 2009 (the first full year of the lease arrangement)
From page 100...
... Tenants become vested in facilities and have a stake of ownership at the end of lease terms BMG uses percentage of rent payments for a "building fund," used for buyback of facilities George Bush Intercontinental Airport - CRCF Large Hub Houston Airport System Share buses for greater efficiency Bonds and Customer Facility Charge issued New Bedford Regional Airport - Bridgewater State University Training Facility Non-Hub New Bedford RegionalAirport Provided building at no cost; In-kind labor from City and the Airport Cooperative venture between BMG and Bridgewater State College Pittsburgh International Airport - Clinton Commerce Park Medium Hub Pittsburgh InternationalAirport No ground rent charge during construction period; Prominent location Grant from State of Pennsylvania; Federal earmark; Created TIF District and issued debt; Leveraged value of land Tampa International Airport PEMCO Development Large Hub Tampa International Airport Low rent with incremental increases; Airport invested in upkeep of hangar; Available work force Qualified Target Industry Tax Refund grant Ted Stevens - Anchorage International Airport - Lynxs Alaska CargoPort Medium Hub Alaska CargoPort Applied AIP funds for site improvements; Helped secure prime tenants Alaska CargoPort secured $30 million; Conduit financing - ANC took ownership to obtain tax exempt financing, then leased facility to Alaska CargoPort Development Attributes Project Attributes Matrix
From page 101...
... Case Studies 101 Type of Development Use of Airport Property Lease Term Visioning Documents Aeronautical Maintenance Facility and Sales Facility 25 years Yes Non-Aeronautical Coca-Cola Bottling Facility 99 years with eight 10- year options to renew Yes Aeronautical FBO Facility 25 years Yes Aeronautical Hangar Facility 40-year ground lease; 10-year facility lease Yes Aeronautical Hangar Complex 30 years Yes Aeronautical and Non- Aeronautical Consolidated Rental Car Facility 30 years Yes Aeronautical Flight Training Center 5 Years Yes Non-Aeronautical Industrial/Commercial Park 29-year land lease with two 10-year options to renew Yes Aeronautical Maintenance Facility 15 years with 10-year option to renew Yes Aeronautical Cargo Transfer Facility 35 years with four options to extend for 5 years Yes
From page 102...
... 102 Guidebook for Developing and Leasing Airport Property Airport Sponsor Airport Users Local City and/or County Government Albany International Airport - HondaJet Development Baton Rouge Metropolitan Airport - Coca-Cola Development Coastal Carolina Regional Airport - Tidewater Air Collin County Regional Airport - EDS Development Monroe County Airport - Aircraft Storage Hangars George Bush Intercontinental Airport - CRCF New Bedford Regional Airport - Bridgewater State University Training Facility Pittsburgh International Airport - Clinton Commerce Park Tampa International Airport PEMCO Development x x x x x x x x x x x x x x x x x Stakeholders Involved Ted Stevens - Anchorage International Airport - Lynxs Alaska CargoPort x x Project Stakeholder Matrix
From page 103...
... Case Studies 103 Department of Transportation or MPO/MTPO Economic Development Entity State Government Federal Aviation Administration (FAA) Federal Agency and/or Program Other than FAA x x x x x x x x x x x x x x x


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