Guidebook for Developing and Leasing Airport Property (2011) / Chapter Skim
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Pages 49-54
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From page 49... ...
At the core of this issue is the reality that improvements or rehabilitations meant to meet the needs of the tenant/user will need to be "developed" by either the airport sponsor, the tenant/ user, or by a third party. And those improvements or rehabilitations will need to be financed by one of those parties.
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From page 50... ...
Whether it is a third party, the airport, or a consortium of entities, the most knowledgeable and able entity should be the one to manage the proposals and deploy varying means of mass communication. An important axiom to remember is that the larger the project and greater the potential for economic impact, the more competition for development.
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From page 51... ...
• Federal economic development agency grants, • American Recovery and Reinvestment Act (ARRA) bonds, • Airport issued bonds, • General obligation bonds, and • Private financing.
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From page 52... ...
Other restrictions placed on airport property such as height, due to navigable airspace, smoke/emissions, due to interference with the pilots' ability to maintain visual separation between aircraft, and organics products, such as composting and landfill activities, affect uses and ultimately land values as well. This difference is perhaps more pronounced in small- to mid-sized communities than at large-hub airports, but the airport sponsor should focus on a comparison of comparable properties at comparable airports rather than focus so much on real estate parcels within the same community.
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From page 53... ...
of based aircraft, types of commercial activity, and level of air service. The airports being compared should have similar levels of amenities as well; air traffic control, instrument approaches, lighting, security, and hours of operation all affect access by the aviation community, and, therefore, value of the property on that facility.
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From page 54... ...
structure that makes the airport virtually self-sustaining. Airports are expected to establish rents and airport user fees that generate enough revenue to meet airport funding requirements.
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