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58 Planning for Offsite Airport Terminals These rules do not restrict the use of bus connections to airports such as the LAX Flyaway non- stop bus routes operated by LAWA and the Logan Express non-stop bus routes operated by Mass- port. Manchester Boston Regional Airport runs a complimentary shuttle with stops in Woburn and Boston. The shuttle services the airport and is subsidized through the use of revenue generated by the airport. To protect against non-airport passengers utilizing the service, airport passengers must show a boarding pass or a printed travel itinerary as they board the shuttle. As long as the buses are used exclusively for airport service, capital and operating costs are eligible uses of airport revenue. Customer Facility Charge Bonds Customer facility charges (CFCs) are collected through rental car concessionaires and may be assessed on a per transaction basis or per transaction-day basis. CFCs are usually established pur- suant to an ordinance that establishes the CFC amount, and the CFC may thereafter be part of the airport's annual setting of rates and charges. Airport operators have a good deal of discretion in setting and charging CFC fees since there is no requirement for federal oversight or approval of the CFC or transportation fee. Traditionally CFCs have been levied to pay all or a portion of the operating and capital costs of a consolidated rental car area or structured facility. CFCs may also include the costs of transportation to the terminals. If a rental car facility were to be part of the offsite terminal, CFC bonds, backed by future CFC revenues, are the types of bonds most likely to be used to finance that portion of an offsite terminal project. CFC revenues may be used on a standalone basis to leverage bonds or may be used together with other airport revenues to sup- port bonds (known as a "double-barreled bond"). Federal and State Credit Assistance An offsite terminal may have access to other credit assistance beyond that which is normally available for airport projects. The roadway congestion relief that would potentially be realized due to the offsite terminal may make the project eligible for programs meant to facilitate devel- opment of surface transportation projects at the federal and state levels such as the TIFIA and airport access projects and state-based credit assistance programs. TIFIA and Airport Access Projects The Transportation Infrastructure Finance and Innovation Act (TIFIA), created as part of TEA-21 in 1998, allows the U.S. DOT to provide direct credit assistance to sponsors of major transportation projects. TIFIA has been reauthorized under SAFETEA-LU, which is the federal act signed into law in 2005 that continues transportation funding for the next 6 years. The TIFIA credit program offers public and private sponsors of large surface transportation projects three distinct types of financial assistance: direct loans, loan guarantees, and standby lines of credit. To be eligible for TIFIA, the project must be included in a State Transportation Plan and before an agreement is made for federal credit assistance, the project must be in an approved State Trans- portation Improvement Program. Requirements to access the TIFIA credit program include The entity undertaking the project must submit a project application; A credit rating or preliminary opinion letter from a rating agency indicating that the project's sen- ior debt obligations have the potential of being investment grade is required with the application; Eligible project costs must equal or exceed the lesser of $100 million or 50% of the amount of federal-aid highway funds apportioned to the state for the most recently completed fiscal year; Project financing must be repayable in part or in whole from tolls, user fees, or other dedi- cated revenue sources; and