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6 Guidebook for Developing and Leasing Airport Property Guidebook also provides the airport sponsor with a checklist of items to assist in collecting and refining those terms necessary to analyze the project and form the lease agreement appropriately. In addition, a PowerPoint template that allows the airport sponsor to provide the pertinent infor- mation to any relevant stakeholders is included as part of this Report and is available on the Report web page at The study team also utilizes 10 case study projects that present a cross section of U.S. airports to provide examples of best management prac- tices for leasing and development agreements. Broad explanations of best practices are provided in the text, while specific case study details are located within adjacent text boxes. Detailed depictions of each of the 10 case study projects are listed in Appendix A. 1.2 How to Use This Guidebook The chapters of this Guidebook provide information tailored specifically for airport sponsors to assist in the development of airport property, while simultaneously addressing the typical concerns and interests of stakeholders and potential tenants. With this information, the reader has a tem- plate for completing the development process in an efficient manner, which will lead to cost effective development, leasing, negotiating, and regulatory adaptation. The study team also undertook a detailed analysis of substantive issues that pertain to both public- and private-sector participants in an airport development project. These issues were high- lighted and illustrated by real-life examples revealed in the study. Throughout the Guidebook the reader will find text boxes with examples of unique approaches and best practices found in the indi- vidual case studies. These examples are used to illustrate and highlight the specific lease and devel- opment approaches from each case study and how these can be applied to the specific lease and development topics being addressed in the main Guidebook text. The Guidebook itself is organized into the following chapters that are designed to act as building blocks for the reader, taking them from understanding the core components of a lease document, through the planning and financ- ing phase of an airport development project: Chapter 1: Introduction--An introduction to the guidebook that explains its purpose, how the Guidebook should be utilized, and the methodology enlisted. Chapter 2: Anatomy of a Lease--An overview of the different types of leases typically prevalent on an airport with a detailed listing of the essential and optional elements that should be included in each. Chapter 3: Airport Owner/Sponsor Role--An in-depth look at airport development principles and considerations. Chapter 3 covers planning and regulatory issues to be considered by the airport sponsor and provides insight into stakeholder dynamics and sociopolitical issues that affect airport development and leasing. Chapter 4: Project Development Considerations--Identifies the substantive issues surround- ing airport development and leasing. This chapter also illustrates nuances that affect the final agreements between airports and tenants of the study projects. Chapter 5: Finance Overview--Addresses certain financial perspectives and tools that the air- port sponsor may utilize when considering an airport development project. Discusses the inter- relationships between financing, valuation, and lease elements, and how these relationships affect each party entering into the lease agreement. Chapter 6: Summary of Best Practices--Identifies best practices and checklists for airport spon- sors to consider, and approaches that can be adapted to suit individual airport needs when developing airport property. Appendices--Include case study project summaries, a list of aviation acronyms prevalent within the aviation industry, a glossary of relevant terms, and a bibliography.