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Pages 7-24

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From page 7...
... 7 History and Development of PPPs in Transportation Infrastructure PPPs are often thought to be a recent development in the infrastructure delivery space; however, examples of such partnerships date to the 1800s with both road and rail projects. During the 20th century, full public-sector funding for transportation was the norm because of declining interest by the private sector to provide investment.
From page 8...
... 8 Attracting Investment at General Aviation Airports Through Public–Private Partnerships understand these benefits and the life-cycle costs to ensure that they are secured from the private sector and reduce any unnecessary risks. Finally, the public-sector partner should document and monitor the agreement throughout its term in order to ensure that the public is receiving the promised benefits and that the project is proceeding appropriately (6)
From page 9...
... Private Investment at General Aviation Airports: A Review of the Literature 9 Term Definition Design–bid–build (DBB) This is the traditional method of project delivery in which the design and construction are awarded separately and sequentially to private firms.
From page 10...
... 10 Attracting Investment at General Aviation Airports Through Public–Private Partnerships GAO analysis found that in 2005 the City of Chicago received about $1.8 billion by leasing the Chicago Skyway to a consortium for 99 years. The city in turn used the lease payments to pay off the remaining debt on the Chicago Skyway and some of the city's general obligation debt.
From page 11...
... Private Investment at General Aviation Airports: A Review of the Literature 11 less costly) risk mitigation.
From page 12...
... 12 Attracting Investment at General Aviation Airports Through Public–Private Partnerships or otherwise could be owed money at the time of default. Others find that PPPs are nearly always designed with minimal risk to the public sector (16)
From page 13...
... Private Investment at General Aviation Airports: A Review of the Literature 13 aviation projects. The Airport Privatization Pilot Program (APPP)
From page 14...
... 14 Attracting Investment at General Aviation Airports Through Public–Private Partnerships cargo tenants (2)
From page 15...
... Private Investment at General Aviation Airports: A Review of the Literature 15 of the project. Additionally, local businesses donated the fixtures and interior, amounting to $35,000; this aid allowed Tidewater to focus on construction (28)
From page 16...
... 16 Attracting Investment at General Aviation Airports Through Public–Private Partnerships For large and medium primary hub airports, the AIP covers 75 percent of the total costs. For small primary, reliever, and general aviation airports, AIP funds cover 90% to 95% of eligible costs (29)
From page 17...
... Private Investment at General Aviation Airports: A Review of the Literature 17 contract and involves a subordination clause and a long list of contract clauses that cover labor relations and civil rights. These provisions are uncommon in most private-sector contracts and essentially act as a barrier to investment from the private sector into an airport (33)
From page 18...
... 18 Attracting Investment at General Aviation Airports Through Public–Private Partnerships range of expertise that may be needed at a large facility, particularly regarding real estate and land development. Typically, these services are provided for a set period and a fixed fee.
From page 19...
... Private Investment at General Aviation Airports: A Review of the Literature 19 • Brings increased emphasis on revenue enhancement, and commercial and economic development; • Reduces ongoing municipal employee compensation, including postretirement expenses (pension, medical, etc.) ; • Provides greater incentives for management and employees to perform better; and • Provides more commercial and operational freedom for contractor.
From page 20...
... 20 Attracting Investment at General Aviation Airports Through Public–Private Partnerships addition, to avoid conflicts with a sponsor's federal obligations, the FAA strongly encourages a management contract to be a separate agreement from leases or airfield use agreements held by the agent of the sponsor. This makes the respective responsibilities for each activity clear, and also enables the sponsor to deal with a possible default in one activity (i.e., management agreement)
From page 21...
... Private Investment at General Aviation Airports: A Review of the Literature 21 AFCO/AvPORTS Management, LLC Based in New Jersey, AvPORTS is one of the largest airport management companies in the country, with 90 years of experience (35)
From page 22...
... 22 Attracting Investment at General Aviation Airports Through Public–Private Partnerships • San Gabriel Valley Airport, California (EMT) ; • General William J
From page 23...
... Private Investment at General Aviation Airports: A Review of the Literature 23 businesses that subsequently made investments in the airport, secured instrument approaches, and worked with governmental agencies to provide grant funds to the airports. TBI Airport Management, Inc.
From page 24...
... 24 Attracting Investment at General Aviation Airports Through Public–Private Partnerships management. To accomplish this, Airports Worldwide implements an active asset management approach to its investments.

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