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CHAPTER 6 Summary of Best Practices Regardless of an airport's size, location, or market, certain best practices prevail and provide a common thread through development projects at airports of all types. The airport sponsor must strive to meet the demands of the airport's users, the needs and desires of the surrounding community, the financial concerns of potential developers, and the regulatory requirements of the FAA, all while ensuring that the current and future financial and operational health of the airport remains intact. This can be a difficult task to accomplish, particularly when these goals may often be seen as being at odds with each other. It is, therefore, imperative that the airport sponsor evaluate the potential financial, economic, and regulatory impacts of the agreement prior to entering into a lease. While it is important to consider the benefits to the community, the developer, and ultimately the tenant in the lease arrangement, it is important to remember that the financial sustainability of the airport is the primary goal. The following sections will review lease and development best practices discussed throughout this Guidebook, and provide the airport sponsor with procedures that achieve both the desired development and the neces- sary sustainability. 6.1 Project Development The project development phase encompasses all of the planning, collaboration, and decision- making processes that occur prior to the negotiation and execution of the appropriate agree- ments. For this reason, it is important to focus on setting the groundwork that will be required for a successful relationship that, in turn, will benefit both the airport and the tenant. 6.1.1 Airport Planning The airport sponsor must have a vision as to how the airport will be developed and those goals must be clearly defined and aligned with those of the community and potential tenants. Using the Airport Master Plan and any land use studies as a starting point, the basis of any potential development project should be evaluated for its desirability and impact on the airport. The Mas- ter Plan should define land appropriate for aeronautical and nonaeronautical use, as well as the types of development intended for the respective land uses (such as corporate hangars on land designated for aeronautical use or warehousing for nonaeronautical use). However, the airport will need to maintain flexibility when it comes to its overall vision for future airport develop- ment. The demands of the market dictate flexibility on the part of the airport sponsor and will often require deviation and exceptions to the airport's Land Use Plan in order to secure a ten- ant agreement. (Airport Vision discussion in Section 3.1 provides additional information on this topic). 68