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Introduction 7
Along with the hard copy of this Guidebook, an online version is available at http://www.
trb.org/Main/Blurbs/64688.aspx. The online version includes the Guidebook in electronic format.
The paper version is best suited for those interested in more detail, providing point-by-point expla-
nations of relevant issues. The online version will serve individuals who regularly seek quick access
to certain sections of the Guidebook. In addition to the Guidebook, two PowerPoint presentations
(a landside, nonaeronautical in nature, and an airside, aeronautical in nature, version) can also be
found online at http://www.trb.org/Main/Blurbs/64688.aspx for further reference and use by the
airport sponsor when communicating the guidelines and best practices.
1.3 Research Approach
The research conducted for this Guidebook is based on a two-pronged approach that consists of
first examining current literature relating to commercial leasing practices and guidelines (both air-
port and standard commercial leases), and second, conducting 10 case studies of airports using best
practice airport lease and development policy to be used as benchmarks (either in whole or in part)
by airport sponsors. The following five steps summarize the foundation of the Guidebook's study
methodology:
Step 1 Development of a research plan that includes a compilation of existing research, trade and
news publications, and other appropriate materials that describe creative solutions in
response to a competitive development environment. A bibliography was developed using
several means of information retrieval.
Step 2 Preparation of a glossary of terms relevant to leasing and developing airport property. The
glossary is tailored to the airport sponsor. Its goal is to provide a tool for effective commu-
nication and consistency in preparing documents, and it includes terminologies for real
estate development and banking industries as well.
Step 3 Identification of 10 case study projects/airport sponsors to be used as representative case
studies that highlight best management practices.
Step 4 Identification of affected stakeholders, including those within the airport sponsor organi-
zations, tenants and users of the airport, potential investors and developers of airport facil-
ities, as well as local parties that may have a vested interest in airport development.
Step 5 Compilation of a detailed description, analysis, categorization, and summary of substan-
tive issues that affect public and private leasing and development transactions.
The literature review was conducted in order to identify existing materials related to leasing, sale,
and development of airport property. A variety of sources are cited, including aviation, financial,
real estate, and appraisal industry publications, airport websites, and relevant federal regulations.
The glossary of terms and bibliography developed from the literature review can be found in the
Appendices C and D of this Guidebook, respectively.
To compile the list of 10 benchmark case studies, project nominations were first sought from
state aviation officials and FAA airport district office managers. Criteria for nomination included
consideration of whether a project stimulated economic activity, created revenue for the airport
sponsor, employed a diversity of innovative alliances or stakeholders, utilized creative financing,
and/or optimized public and private investment.
The second step in culling the list of case studies required contacting officials and representa-
tives from each of the nominated airports. A questionnaire was mailed to the top executives of 30
of the nominated airports and e-mailed to the top executives of the other 51 nominated airports
(a list of the nominated airports can be found in Appendix E of the Guidebook and a copy of the
questionnaire can be found in Appendix A). The intent of the survey was to gather additional
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8 Guidebook for Developing and Leasing Airport Property
information about the nominated project(s) from their respective airports so the details of the
projects could be considered for inclusion in the Guidebook.
The study team compiled the data collected on the nominated airports and proposed to the study
panel 10 case study projects that the team felt captured the spirit of the Guidebook and the diver-
sity of projects desired. The list of 10 case study projects was further refined to respond to the com-
ments of the study panel, and, in the end, the collection of case study projects represented a
contemporary collection of well-rounded development from which other airports can learn.
The study team and the study panel based final selection of the 10 case study airports on four
criteria: relevance to the study, the airport's ability/willingness to participate in the study, geo-
graphic diversity to provide a cross section of airport examples throughout the country, and
allocation within the five sizes of airports (general aviation, non-hub, small-hub, medium-hub,
and large-hub). The selected case study airports and associated projects are listed below by air-
port type with a brief synopsis of the project and identification of key stakeholders involved
with each.
General Aviation Airports:
ˇ Collin County Regional Airport, Texas (TKI)
Project: 32,000-square-foot corporate hangar complex for EDS/Hewlett Packard
Stakeholders: Collin County Regional Airport, City of McKinney, Collin County Regional
Investments (CCRI), McKinney Economic Development Corporation (MEDC), and the
Texas Department of Transportation
ˇ Monroe County Airport, Indiana (BMG)
Project: Hangar complex construction
Stakeholders: Monroe County Airport, Airport Board, Leaseholders
Non-Hub Airports:
ˇ Coastal Carolina Regional Airport, North Carolina (EWN)
Project: Tidewater Air Services FBO/general aviation (GA) Terminal
Stakeholders: Airport Authority, Tidewater Air Services, State of North Carolina, local busi-
ness entities
ˇ New Bedford Regional Airport, Massachusetts (EWB)
Project: Reversion from old plumber training facility to flight training facility
Stakeholders: Bridgewater State University, City of New Bedford, New Bedford Economic
Development Council, New Bedford Redevelopment Authority, Division of Capital Asset
Management, Delta Air Lines
Small-Hub Airports:
ˇ Albany International Airport, New York (ALB)
Project: HondaJetTM sales and maintenance facility
Stakeholders: Albany International Airport, New York State Dormitory Authority,
HondaJet
ˇ Baton Rouge Metropolitan Airport, Louisiana (BTR)
Project: Coca-ColaŽ bottling plant
Stakeholders: Greater Baton Rouge Airport District, The City of Baton Rouge-Mayor's Office,
Baton Rouge Area Chamber, Louisiana Economic Development
Medium-Hub Airports:
ˇ Pittsburgh International Airport, Pennsylvania (PIT)
Project: Clinton Commerce Park, a 100-acre warehouse park
Stakeholders: Pittsburgh International Airport, State of Pennsylvania, Allegheny County,
Allegheny Conference on Community Development, Findlay Township School Board,
FAA, Pennsylvania Department of Transportation, Corps of Engineers, Colombia Gas
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Introduction 9
ˇ Anchorage International Airport, Alaska (ANC)
Project: Alaska CargoPortTM
Stakeholders: Anchorage International Airport, Alaska CargoPort, State of Alaska, Alaska
Industrial Development Authority
Large-Hub Airports:
ˇ George Bush Intercontinental Airport/Houston, Texas (IAH)
Project: Consolidated rental car facility (CRCF)
Stakeholders: The City of Houston, Houston Airport System (HAS), a limited liability cor-
poration formed by the rental car companies occupying the CRCF
ˇ Tampa International Airport, Florida (TPA)
Project: Redevelopment of closed US Airways Maintenance Facility
Stakeholders: Tampa International Airport, PEMCO, Chamber of Commerce, City of
Tampa, Hillsborough County, Enterprise Florida, Workforce Florida, Committee of 100,
MacDill Air Force Base
Interviews were conducted with airport management representatives at each airport to identify
the key and unique aspects of the lease agreement, gather relevant documents and data, and iden-
tify stakeholders involved in project development and the lease agreement. In most cases, site vis-
its were also conducted to gather additional information and perspective. Detailed summaries of
each case study can be found in the Appendix A of the Guidebook. The summaries include a detailed
synopsis of the following:
ˇ Project Overview,
ˇ Key Stakeholders,
ˇ Key Lease Elements,
ˇ Financial Considerations for the Tenant, and
ˇ Airport Benefits and Revenue.
