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Not for Sale

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OCR for page 43
Airport Owner/Sponsor Role 43 interests outside the confines of the airport environment, may influence the final lease agreement between the airport and the tenant. More often than not, outside stakeholder involvement can bring added benefit, resources, and incentives. Conversely, if all outside stakeholders are not identified early and brought into the planning and development process in a timely fashion, potential partnerships can be overlooked and barriers to the desired goals of the airport and ten- ant can materialize when all perspectives are not considered. Even when stakeholders do not directly impact the end product of a formal lease agreement between the airport sponsor and the tenant, they may be essential to the overall development of a given lease. Specifically, community stakeholders may provide support, advocacy, and/or incen- tives critical to making the development project a success. Multiple factors influence the final structure of the lease and are driven by the collective inputs of all parties that have a vested inter- est in the final outcome of the development project. To this end, it becomes critical that airport management recognize and understand the perspectives of stakeholders involved and manage the development process to take advantage of their contributions. 3.5.1 Airport Users and Tenants Current and potential users of the airport (both commercial enterprises and private tenants) are key stakeholders in most airport development projects and should be engaged in any new development activities. Needless to say, not all new projects and leases will affect all airport users; nonaeronautical development on landside parcels of land, for example, will have little impact on pilots and airside aviation-related activities. However, it is important to keep the aviation com- munity at an airport abreast of all planned development, and, if applicable, involve them early in the planning process. Simple tools such as an airport newsletter or website can be used to keep airport users up to date on any proposed development, providing for an open and accessible avenue to voice any concerns, conflicts, or constructive input. A misinformed or uninformed airport community can create unnecessary and unwanted roadblocks, while a small amount of simple communication can help avoid any such issues. 3.5.2 Economic Development Agencies An economic development agency or corporation (EDA/EDC) can come in many sizes and forms, from local agencies (focusing on a specific city or county) to statewide and federal orga- nizations. The EDA/EDC can be the airport sponsor's most valuable ally in promoting the air- port and attracting potential tenants and its involvement should be sought in any airport business development undertaking. Assistance provided by EDA/EDC includes, but is not lim- ited to, the following: Marketing assistance, Site selection survey response, Industry recruiting, Funding and grant advocacy, Tax incentive/abatement identification, and Development of public-private partnerships. EDA/EDC can provide expertise in industry recruiting and marketing that the airport may not possess within its own organization. This expertise is especially crucial when it comes to market- ing and leasing land and facilities for nonaeronautical uses. While the airport sponsor may take the lead in developing and marketing airside- and aviation-related land and facilities, the economic development entity may provide value by identifying and securing financial incentives, including grants, tax abatements, and public-private partnerships that may be applicable to a given project.