Strategies for Reuse of Underutilized or Vacant Airport Facilities (2011) / Chapter Skim
Currently Skimming:
Pages 7-14
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 7... ...
5 CHAPTER TWO VACANT AND UNDERUTILIZED AIRPORT FACILITIES Each of the components of Figure 2 is described in the following sections. FUNCTIONAL OBSOLESCENCE A scan of any 20-year period since jet aircraft became prevalent in the 1960s would demonstrate the extent of functional changes at airports.
|
From page 8... ...
At many airports, Majority in Interest (MII) clauses gave signatory airlines rights to approve or disapprove airport capital projects in exchange for airlines backing debt.
|
From page 9... ...
Jun-95 Trans World Airlines (re-emerged) Nov-05 Atlantic Coast Airlines (ceased operations)
|
From page 10... ...
8 Hillsborough County Airport Authority (HCAA) in Tampa also found a replacement tenant for a US Airways hangar vacated in November 2002.
|
From page 11... ...
9 found. The cost to maintain and secure a property can be considerable.
|
From page 12... ...
DAY considered purchasing the building but opted to receive rent for the ground lease and market the property to one or several tenants. Ultimately, prospective tenants would negotiate with UPS and seek FAA approval for any nonaviation use because the property has access to the airfield.
|
From page 13... ...
Grant Assurances 24, 25, and federal law require that airport sponsors that lease airport property for nonaeronautical use receive no less than fair market value rents. With regard to specific FAA grant-funded improvements or equipment, a sponsor must operate and maintain the project or equipment for its full useful life.
|
From page 14... ...
12 Despite the many challenges of reuse, the case studies presented in the next chapter demonstrate some excellent examples of facilities that have been modified and placed back in service. have a much wider selection of properties off-airport that can be purchased outright (fee simple)
|
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.