Below is the uncorrected machine-read text of this chapter, intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text of each book. Because it is UNCORRECTED material, please consider the following text as a useful but insufficient proxy for the authoritative book pages.
B-1 List of Appendix B Tables Table B-1 (a) Cost Estimate - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . B-3 Table B-1 (b) Cost Estimate - Terminal Replace Alternative . . . . . . . . . . . . . . . . . . . . . . . . B-4 Table B-2 (a) Timed Program Construction Expenditures - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-5 Table B-2 (b) Timed Program Construction Expenditures - Terminal Replacement Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-6 Table B-3 City Airport - Aviation Activity Projections . . . . . . . . . . . . . . . . . . . . . . . . . B-7 Table B-4 (a) Terminal Space (SF) - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . B-8 Table B-4 (b) Terminal Space (SF) - Terminal Replacement Alternative . . . . . . . . . . . . . . B-9 Table B-5 (a) Summary of CIP - Total Cost by Fiscal Year and Funding Source - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-10 Table B-5 (b) Summary of CIP - Total Cost by Fiscal Year and Funding Source - Terminal Replacement Alternative . . . . . . . . . . . . . . . . . . . . . . . . B-11 Table B-6 (a) Operation & Maintenance Expenses - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-12 Table B-6 (b) Operation & Maintenance Expenses - Terminal Replacement Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-13 Table B-7 (a) Non-Airline Revenue - Terminal Renewal Alternative . . . . . . . . . . . . . . . . B-14 Table B-7 (b) Non-Airline Revenue - Terminal Replacement Alternative . . . . . . . . . . . . B-15 Table B-8 (a) Debt Service - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . B-16 Table B-8 (b) Debt Service - Terminal Replacement Alternative . . . . . . . . . . . . . . . . . . . B-17 Table B-9 (a) Terminal Rental Rate (Cost Center Residual Example) - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-18 Table B-9 (b) Terminal Rental Rate (Cost Center Residual Example) - Terminal Replacement Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-19 Table B-10 (a) Landing Fee Rate (Cost Center Residual Example) and Cost Per Enplanement - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . B-20 Table B-10 (b) Landing Fee Rate (Cost Center Residual Example) and Cost Per Enplanement - Terminal Replacement Alternative . . . . . . . . . . . . . . . B-21 Table B-11 (a) Net Cash Flow and Debt Service Coverage - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-22 Table B-11 (b) Net Cash Flow and Debt Service Coverage - Terminal Replacement Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-23 Table B-12 (a) Authority Flow of Funds - Terminal Renewal Alternative . . . . . . . . . . . . . B-24 Table B-12 (b) Authority Flow of Funds - Terminal Replacement Alternative . . . . . . . . . B-25 Table B-13 (a) Summary Financial Metrics - Terminal Renewal Alternative . . . . . . . . . . B-26 A p p e n d i x B Sample Case Data Tables
B-2 Guidebook for evaluating Terminal Renewal Versus Replacement Options Table B-13 (b) Summary Financial Metrics - Terminal Replacement Alternative . . . . . . B-27 Table B-14 (a) Sensitivity Analysis Scenario Comparison - Terminal Renewal Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-28 Table B-14 (b) Sensitivity Analysis Scenario Comparison - Terminal Replacement Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-28
Unit Cost ($/SF) Operating Space Required (SF) Existing Inventory (SF) Renew Replace Renew Existing to Renew Net New to Build Program Cost Renew Temporary Construction and Relocations: Construct 5 temp gates and ops space $250 30,000 $7,500,000 Construct associated temp apron 15 250,000 3,750,000 Construct 10,000 SF Ticketing Lobby and support space 250 10,000 2,500,000 Relocate Airport Support Facility 200 22,500 4,500,000 Subtotal Temporary Construction and Relocations $20,350,000 Airline Leased Space: Preferential Leased Ticketing and Offices 15,000 $300 $700 15,000 15,000 - $4,500,000 Holdrooms 29,000 300 700 38,000 29,000 9,000 15,000,000 Operations 26,000 200 450 27,000 26,000 1,000 5,650,000 Bag Service Offices 4,000 200 450 4,000 4,000 - 800,000 Subtotal Preferential Leased 74,000 84,000 74,000 10,000 $25,950,000 Joint Use Space Baggage Make-Up 33,000 $200 $450 35,000 33,000 2,000 $7,500,000 Baggage Claim 25,000 300 700 29,000 25,000 4,000 10,300,000 Tug Drive 17,000 100 300 18,000 17,000 1,000 2,000,000 Subtotal Joint Use Space 75,000 82,000 75,000 7,000 $19,800,000 Total Airline Leased Space 149,000 166,000 149,000 17,000 $45,750,000 Building Space: Terminal Rentable space Airline Leased Space 149,000 $200 $450 166,000 149,000 17,000 $37,450,000 Non-Airline Offices 10,000 200 450 10,000 10,000 - 2,000,000 Concessions 25,000 300 700 35,000 25,000 10,000 14,500,000 Vacant/Other Airline Space 25,000 200 450 28,000 25,000 3,000 6,350,000 Airport Administration 35,000 200 450 35,000 35,000 - 7,000,000 Total Rentable Space 244,000 274,000 244,000 30,000 $67,300,000 Public 94,000 300 700 174,000 94,000 80,000 84,200,000 Mechanical / Electrical / Plumbing / Building Structure 38,000 200 450 50,000 38,000 12,000 13,000,000 Total Terminal Space 376,000 498,000 376,000 122,000 $164,500,000 Additional Requirements: Outbound Bag System Upgrade $500,000 In-Line Bag Screening New 2,000,000 Bag Claim Units Upgrade 500,000 Aircraft Apron (adjacent concourses) Renew $15 200,000 3,000,000 Terminal Curbside (2 drop off lanes and sidewalks) Upgrade 15 70,000 1,050,000 Extend Airport Loop Roadway N/A Total Additional Requirements $7,050,000 Subtotal Option 1 (Renew) Construction Cost $237,650,000 Phasing Costs for On-Going Operations (20%) 47,530,000 Planning (1%) & Design (10%) 26,141,500 Program Management (5%) 11,882,500 Contingency (15%) 41,351,100 Total Estimated Cost $364,555,100 Notes: 1/ N/A = Not Applicable 2/ Table corresponds to Table 9-3 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc., September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-1 (a) Cost Estimate - Terminal Renewal Alternative
B-4 Guidebook for evaluating Terminal Renewal Versus Replacement Options Replace Existing Inventory (SF) Unit Cost ($/SF) Space Required (SF) Program Cost ($) Temporary Construction and Relocations: Construct 5 temp gates and ops space N/A Construct associated temp apron N/A Construct 10000 SF Ticketing Lobby and support space N/A Relocation and start up N/A Relocate Cargo Facility $300 50,000 $15,000,000 Relocate Rental Car Lot 1,100,000 Relocate Airport Support Facility N/A Subtotal Temporary Construction and Relocations $16,100,000 Airline Leased Space: Preferential Leased Ticketing and Offices 15,000 $550 15,000 $8,250,000 Holdrooms 29,000 550 35,000 19,250,000 Operations 26,000 350 25,000 8,750,000 Bag Service Offices 4,000 350 4,000 1,400,000 Subtotal Preferential Leased 74,000 79,000 $37,650,000 Joint Use Space Baggage Make-Up 33,000 $350 34,000 $11,900,000 Baggage Claim 25,000 550 28,000 15,400,000 Tug Drive 17,000 300 15,000 4,500,000 Subtotal Joint Use Space 75,000 77,000 $31,800,000 Total Airline Leased Space 149,000 156,000 $69,450,000 Building Space: Terminal Rentable space: Airline Leased Space 149,000 $350 156,000 $54,600,000 Non-Airline Offices 10,000 350 13,000 4,550,000 Concessions 25,000 550 45,000 24,750,000 Vacant/Other Airline Space 25,000 350 26,000 9,100,000 Airport Administration 35,000 350 40,000 14,000,000 Total Rentable Space 244,000 280,000 $107,000,000 Public 94,000 $550 135,000 $74,250,000 Mechanical / Electrical / Plumbing / Building Structure 38,000 350 36,000 12,600,000 Total Building Space 376,000 451,000 $193,850,000 Additional Requirements: Outbound Bag System $2,000,000 In-Line Bag Screening 2,000,000 Bag Claim Units 1,000,000 Aircraft Apron (adjacent concourses) $20 1,000,000 20,000,000 Terminal Curbside (2 drop off lanes and sidewalks) 20 75,000 1,500,000 Extend Airport Loop Roadway 1,200,000 Total Additional Requirements $27,700,000 Subtotal Option 2 (Replace) Construction Cost $307,100,000 Phasing Costs for On-Going Operations (10%) 30,710,000 Planning (1%) & Design (10%) 33,781,000 Program Management (5%) 15,355,000 Contingency (15%) 53,435,400 Total Estimated Cost $440,381,400 Notes: 1/ N/A = Not Applicable 2/ Table corresponds to Table 9-3 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc., September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-1 (b) Cost Estimate - Terminal Replace Alternative
Planning / Construction Year Program Cost ($) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Temporary Construction and Relocations: Construct 5 temp gates and ops space $7,500,000 $2,500,000 $5,000,000 Construct associated temp apron 3,750,000 3,750,000 Construct 10,000 SF Ticketing Lobby and support space 2,500,000 750,000 1,750,000 Relocation and start up 1,000,000 1,000,000 Relocate Cargo Facility N/A Relocate Rental Car Lot 1,100,000 100,000 $1,000,000 Relocate Airport Support Facility 4,500,000 1,500,000 3,000,000 Option 1 - Renew Construction Cost $217,300,000 43,460,000 $43,460,000 $21,730,000 $43,460,000 $43,460,000 $21,730,000 Phasing Costs for On-Going Operations (20%) 47,530,000 7,921,667 7,921,667 7,921,667 7,921,667 7,921,667 7,921,667 Planning (1%) & Design (10%) 26,141,500 13,070,750 13,070,750 Program Management (5%) 11,882,500 1,697,500 1,697,500 1,697,500 1,697,500 1,697,500 1,697,500 1,697,500 Contingency (15%) 41,351,100 6,891,850 6,891,850 6,891,850 6,891,850 6,891,850 6,891,850 Total Annual Cash Flow (Current Year Dollars) $364,555,100 $17,920,750 $29,268,250 $60,971,017 $59,971,017 $38,241,017 $59,971,017 $59,971,017 $38,241,017 Total Annual Cash Flow (Nominal Dollars @ 3%) $409,486,751 $17,920,750 $30,146,298 $64,684,152 $65,531,949 $43,040,601 $69,522,845 $71,608,530 $47,031,627 Note: 1/ Table corresponds to Exhibit 9-2 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc., September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-2 (a) Timed Program Construction Expenditures - Terminal Renewal Alternative
Planning / Construction Year Program Cost ($) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Temporary Construction and Relocations: Construct 5 temp gates and ops space N/A Construct associated temp apron N/A Construct 10,000 SF Ticketing Lobby and support space N/A Relocation and start up N/A Relocate Cargo Facility $15,000,000 $5,000,000 $10,000,000 Relocate Rental Car Lot 1,100,000 100,000 1,000,000 Relocate Airport Support Facility N/A Option 1 - Renew Construction Cost 291,000,000 $58,200,000 $58,200,000 $58,200,000 $58,200,000 $58,200,000 Phasing Costs for On-Going Operations (20%) 30,710,000 5,118,333 5,118,333 5,118,333 5,118,333 5,118,333 $5,118,333 Planning (1%) & Design (10%) 33,781,000 16,890,500 16,890,500 Program Management (5%) 15,355,000 2,193,571 2,193,571 2,193,571 2,193,571 2,193,571 2,193,571 2,193,571 Contingency (15%) 53,435,400 8,905,900 8,905,900 8,905,900 8,905,900 8,905,900 8,905,900 Total Annual Cash Flow (Current Year Dollars) $440,381,400 $21,990,500 $30,084,071 $74,417,805 $74,417,805 $74,417,805 $74,417,805 $74,417,805 $16,217,805 Total Annual Cash Flow (Nominal Dollars @ 3%) $492,078,419 $21,990,500 $30,986,594 $78,949,849 $81,318,345 $83,757,895 $86,270,632 $88,858,751 $19,945,854 Notes: 1/ Table corresponds to Exhibit 9-2 within Chapter 9 of the Guidebook. N/A = Not Applicable Source: Ricondo & Associates, Inc., September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-2 (b) Timed Program Construction Expenditures - Terminal Replacement Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Enplanements Signatory Enplanements 2,800,000 2,863,000 2,927,000 2,993,000 3,060,000 3,129,000 3,199,000 3,271,000 3,345,000 3,420,000 3,497,000 Nonsignatory Enplanements 200,000 205,000 210,000 215,000 220,000 225,000 230,000 235,000 240,000 245,000 251,000 Other 0 0 0 0 0 0 0 0 0 0 0 Total Annual Enplanements 3,000,000 3,068,000 3,137,000 3,208,000 3,280,000 3,354,000 3,429,000 3,506,000 3,585,000 3,665,000 3,748,000 Operations Air Carrier 50,000 51,000 52,000 53,000 54,000 55,000 56,000 57,000 58,000 59,000 60,000 General Aviation 30,000 31,000 32,000 33,000 34,000 35,000 36,000 37,000 38,000 39,000 40,000 Air Taxi/Commuter 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Military 0 0 0 0 0 0 0 0 0 0 0 Total Operations 90,000 92,000 94,000 96,000 98,000 100,000 102,000 104,000 106,000 108,000 110,000 Landed Weight Signatory Landed Weight 3,920,000 3,998,000 4,078,000 4,160,000 4,243,000 4,328,000 4,415,000 4,503,000 4,593,000 4,685,000 4,779,000 Nonsignatory Landed Weight 280,000 286,000 292,000 298,000 304,000 310,000 316,000 322,000 328,000 335,000 342,000 Other Landed Weight 0 0 0 0 0 0 0 0 0 0 0 Total Landed Weight 4,200,000 4,284,000 4,370,000 4,458,000 4,547,000 4,638,000 4,731,000 4,825,000 4,921,000 5,020,000 5,121,000 Note: 1/ Table corresponds to Exhibit 9-4 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-3 City Airport - Aviation Activity Projections
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Airline Space: Exclusive Use Space Ticketing and Offices 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 Holdrooms 29,000 29,000 29,000 29,000 29,000 33,500 33,500 33,500 38,000 38,000 38,000 Operations 26,000 26,000 26,000 26,000 26,000 26,500 26,500 26,500 27,000 27,000 27,000 Bag service offices 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 Total Leased Exclusive Use Space 74,000 74,000 74,000 74,000 74,000 79,000 79,000 79,000 84,000 84,000 84,000 Joint Use Space Baggage Make-Up 33,000 33,000 33,000 33,000 33,000 34,000 34,000 34,000 35,000 35,000 35,000 Baggage Claim 25,000 25,000 25,000 25,000 25,000 27,000 27,000 27,000 29,000 29,000 29,000 Tug Drive 17,000 17,000 17,000 17,000 17,000 17,500 17,500 17,500 18,000 18,000 18,000 Total Joint Use Space 75,000 75,000 75,000 75,000 75,000 78,500 78,500 78,500 82,000 82,000 82,000 Total Airline Leased Space 149,000 149,000 149,000 149,000 149,000 157,500 157,500 157,500 166,000 166,000 166,000 Other Airline Rentable Space Ticketing and Offices 4,000 4,000 4,000 4,000 4,000 4,250 4,250 4,250 4,500 4,500 4,500 Holdrooms 11,000 11,000 11,000 11,000 11,000 11,500 11,500 11,500 12,000 12,000 12,000 Operations 9,000 9,000 9,000 9,000 9,000 9,500 9,500 9,500 10,000 10,000 10,000 Bag service offices 1,000 1,000 1,000 1,000 1,000 1,250 1,250 1,250 1,500 1,500 1,500 Other Airline Rentable Space 25,000 25,000 25,000 25,000 25,000 26,500 26,500 26,500 28,000 28,000 28,000 Total Airline Rentable Space 174,000 174,000 174,000 174,000 174,000 184,000 184,000 184,000 194,000 194,000 194,000 Terminal Rentable Space Airline Rentable Space 174,000 174,000 174,000 174,000 174,000 184,000 184,000 184,000 194,000 194,000 194,000 Non-Airline Offices 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Concessions 25,000 25,000 25,000 25,000 25,000 30,000 30,000 30,000 35,000 35,000 35,000 Airport Administration 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 Total Terminal Rentable Space 244,000 244,000 244,000 244,000 244,000 259,000 259,000 259,000 274,000 274,000 274,000 Public 94,000 94,000 94,000 94,000 94,000 134,000 134,000 134,000 174,000 174,000 174,000 Total Useable Space 338,000 338,000 338,000 338,000 338,000 393,000 393,000 393,000 448,000 448,000 448,000 Mechanical & Service 38,000 38,000 38,000 38,000 38,000 44,000 44,000 44,000 50,000 50,000 50,000 Total Terminal Space 376,000 376,000 376,000 376,000 376,000 437,000 437,000 437,000 498,000 498,000 498,000 Notes: 1/ Years 5 and 8 mark the incremental space impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-5 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-4 (a) Terminal Space (SF) - Terminal Renewal Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Airline Space: Exclusive Use Space Ticketing and Offices 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 Holdrooms 29,000 29,000 29,000 29,000 29,000 33,960 33,960 33,960 35,000 35,000 35,000 Operations 26,000 26,000 26,000 26,000 26,000 25,173 25,173 25,173 25,000 25,000 25,000 Bag service offices 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 Total Leased Exclusive Use Space 74,000 74,000 74,000 74,000 74,000 78,133 78,133 78,133 79,000 79,000 79,000 Joint Use Space Baggage Make-Up 33,000 33,000 33,000 33,000 33,000 33,827 33,827 33,827 34,000 34,000 34,000 Baggage Claim 25,000 25,000 25,000 25,000 25,000 27,480 27,480 27,480 28,000 28,000 28,000 Tug Drive 17,000 17,000 17,000 17,000 17,000 15,347 15,347 15,347 15,000 15,000 15,000 Total Joint Use Space 75,000 75,000 75,000 75,000 75,000 76,653 76,653 76,653 77,000 77,000 77,000 Total Airline Leased Space 149,000 149,000 149,000 149,000 149,000 154,787 154,787 154,787 156,000 156,000 156,000 Other Airline Rentable Space Ticketing and Offices 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 Holdrooms 11,000 11,000 11,000 11,000 11,000 11,827 11,827 11,827 12,000 12,000 12,000 Operations 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 Bag service offices 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Other Airline Rentable Space 25,000 25,000 25,000 25,000 25,000 25,827 25,827 25,827 26,000 26,000 26,000 Total Airline Rentable Space 174,000 174,000 174,000 174,000 174,000 180,613 180,613 180,613 182,000 182,000 182,000 Terminal Rentable Space Airline Rentable Space 174,000 174,000 174,000 174,000 174,000 180,613 180,613 180,613 182,000 182,000 182,000 Non-Airline Offices 10,000 10,000 10,000 10,000 10,000 12,480 12,480 12,480 13,000 13,000 13,000 Concessions 25,000 25,000 25,000 25,000 25,000 41,533 41,533 41,533 45,000 45,000 45,000 Airport Administration 35,000 35,000 35,000 35,000 35,000 39,133 39,133 39,133 40,000 40,000 40,000 Total Terminal Rentable Space 244,000 244,000 244,000 244,000 244,000 273,760 273,760 273,760 280,000 280,000 280,000 Public 94,000 94,000 94,000 94,000 94,000 127,893 127,893 127,893 135,000 135,000 135,000 Total Useable Space 338,000 338,000 338,000 338,000 338,000 401,653 401,653 401,653 415,000 415,000 415,000 Mechanical & Service 38,000 38,000 38,000 38,000 38,000 36,347 36,347 36,347 36,000 36,000 36,000 Total Terminal Space 376,000 376,000 376,000 376,000 376,000 438,000 438,000 438,000 451,000 451,000 451,000 Notes: 1/ Years 5 and 8 mark the incremental space impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-5 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-4 (b) Terminal Space (SF) - Terminal Replacement Alternative
Projected Capital Improvement Plan: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total CIP Project Costs $4,000,000 $4,120,000 $4,243,600 $4,370,908 $4,502,035 $4,637,096 $4,776,209 $4,919,495 $5,067,080 $5,219,093 $5,375,666 $51,231,183 Terminal Project Costs 17,920,750 30,146,298 64,684,152 65,531,949 43,040,601 69,522,845 71,608,530 47,031,627 409,486,751 Total Project Costs $4,000,000 $22,040,750 $34,389,898 $69,055,060 $70,033,984 $47,677,697 $74,299,054 $76,528,026 $52,098,707 $5,219,093 $5,375,666 $460,717,934 Total Cost by Funding Source: AIP Entitlements $1,507,500 $1,524,500 $1,541,750 $1,559,500 $1,577,500 $1,596,000 $1,614,750 $1,634,000 $1,653,750 $1,673,750 $1,694,500 $17,577,500 AIP Discretionary 4,800,000 4,900,000 3,200,000 5,200,000 5,400,000 3,500,000 27,000,000 PFC PAYGO - Terminal 13,440,563 22,609,723 36,050,286 PFC PAYGO - CIP 2,000,000 2,080,000 2,163,200 2,249,728 2,339,717 2,433,306 2,530,638 2,000,000 2,000,000 2,000,000 2,000,000 23,796,589 GARBs - First Issue 54,884,152 48,231,949 38,840,601 141,956,702 GARBS - Second Issue 63,522,845 63,708,530 40,531,627 167,763,002 Local Cash - Terminal 4,480,188 7,536,574 5,000,000 12,400,000 1,000,000 800,000 2,500,000 3,000,000 36,716,762 Local Cash - CIP 492,500 515,500 538,650 561,680 584,818 607,790 630,821 1,285,495 1,413,330 1,545,343 1,681,166 9,857,094 Total $4,000,000 $22,040,750 $34,389,898 $69,055,060 $70,033,984 $47,677,697 $74,299,054 $76,528,026 $52,098,707 $5,219,093 $5,375,666 $460,717,934 Note: 1/ Table corresponds to Exhibit 9-7 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-5 (a) Summary of CIP - Total Cost by Fiscal Year and Funding Source - Terminal Renewal Alternative
Projected Capital Improvement Plan: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total CIP Project Costs $4,000,000 $4,120,000 $4,243,600 $4,370,908 $4,502,035 $4,637,096 $4,776,209 $4,919,495 $5,067,080 $5,219,093 $5,375,666 $51,231,183 Terminal Project Costs 0 21,990,500 30,986,594 78,949,849 81,318,345 83,757,895 86,270,632 88,858,751 19,945,854 492,078,419 Total Project Costs $4,000,000 $26,110,500 $35,230,194 $83,320,757 $85,820,380 $88,394,991 $91,046,841 $93,778,246 $25,012,935 $5,219,093 $5,375,666 $543,309,601 Total Cost by Funding Source: AIP Entitlements $1,507,500 $1,524,500 $1,541,750 $1,559,500 $1,577,500 $1,596,000 $1,614,750 $1,634,000 $1,653,750 $1,673,750 $1,694,500 $17,577,500 AIP Discretionary 6,300,000 6,500,000 7,600,000 7,800,000 8,100,000 36,300,000 PFC PAYGO - Terminal 16,492,875 23,239,945 4,000,000 2,000,000 45,732,820 PFC PAYGO - CIP 2,000,000 2,080,000 2,163,200 2,249,728 2,339,717 2,433,306 2,530,638 2,000,000 2,000,000 2,000,000 2,000,000 23,796,589 GARBs - First Issue 67,649,849 61,818,345 71,157,895 200,626,088 GARBS - Second Issue 75,470,632 78,258,751 19,945,854 173,675,237 Local Cash - Terminal 5,497,625 7,746,648 1,000,000 11,000,000 5,000,000 3,000,000 2,500,000 35,744,273 Local Cash - CIP 492,500 515,500 538,650 561,680 584,818 607,790 630,821 1,285,495 1,413,330 1,545,343 1,681,166 9,857,094 Total $4,000,000 $26,110,500 $35,230,194 $83,320,757 $85,820,380 $88,394,991 $91,046,841 $93,778,246 $25,012,935 $5,219,093 $5,375,666 $543,309,601 Note: 1/ Table corresponds to Exhibit 9-7 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011 Table B-5 (b) Summary of CIP - Total Cost by Fiscal Year And Funding Source - Terminal Replacement Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 By Category: Wages $15,000,000 $15,750,000 $16,538,000 $17,365,000 $18,233,000 $19,145,000 $20,102,000 $21,107,000 $22,162,000 $23,270,000 $24,434,000 Fringe Benefits 4,500,000 4,725,000 4,961,400 5,209,500 5,469,900 5,743,500 6,030,600 6,332,100 6,648,600 6,981,000 7,330,200 Other Expenses 1,000,000 1,030,000 1,061,000 1,093,000 1,126,000 1,160,000 1,195,000 1,231,000 1,268,000 1,306,000 1,345,000 Contracted Services 12,000,000 12,360,000 12,731,000 13,113,000 13,506,000 13,911,000 14,328,000 14,758,000 15,201,000 15,657,000 16,127,000 Repair & Maintenance 3,000,000 3,120,000 3,245,000 3,375,000 3,510,000 3,650,000 3,796,000 3,948,000 4,106,000 4,270,000 4,441,000 Insurance 1,000,000 1,030,000 1,061,000 1,093,000 1,126,000 1,160,000 1,195,000 1,231,000 1,268,000 1,306,000 1,345,000 Utilities 3,000,000 3,120,000 3,245,000 3,375,000 3,510,000 3,650,000 3,796,000 3,948,000 4,106,000 4,270,000 4,441,000 Education & Travel 500,000 515,000 530,000 546,000 562,000 579,000 596,000 614,000 632,000 651,000 671,000 Professional Services 2,500,000 2,600,000 2,704,000 2,812,000 2,924,000 3,041,000 3,163,000 3,290,000 3,422,000 3,559,000 3,701,000 Office Supplies 1,000,000 1,030,000 1,061,000 1,093,000 1,126,000 1,160,000 1,195,000 1,231,000 1,268,000 1,306,000 1,345,000 Incremental Terminal Expenses 2,000,000 2,060,000 2,122,000 5,186,000 5,342,000 5,502,000 Total O&M Expenses $43,500,000 $45,280,000 $47,137,400 $49,074,500 $51,092,900 $55,199,500 $57,456,600 $59,812,100 $65,267,600 $67,918,000 $70,682,200 By Cost Center (fully allocated): Airfield Area $10,875,000 $11,320,000 $11,784,350 $12,268,625 $12,773,225 $13,299,875 $13,849,150 $14,422,525 $15,020,400 $15,644,000 $16,295,050 Terminal Building 1/ 19,575,000 20,376,000 21,211,830 22,083,525 22,991,805 25,939,775 26,988,470 28,082,545 32,222,720 33,501,200 34,833,090 Other Buildings and Areas 13,050,000 13,584,000 14,141,220 14,722,350 15,327,870 15,959,850 16,618,980 17,307,030 18,024,480 18,772,800 19,554,060 Total O&M Expenses $43,500,000 $45,280,000 $47,137,400 $49,074,500 $51,092,900 $55,199,500 $57,456,600 $59,812,100 $65,267,600 $67,918,000 $70,682,200 Notes: 1/ Years 5 and 8 mark the incremental O&M expense impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-8 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-6 (a) Operation & Maintenance Expenses - Terminal Renewal Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 By Category: Wages $15,000,000 $15,750,000 $16,538,000 $17,365,000 $18,233,000 $19,145,000 $20,102,000 $21,107,000 $22,162,000 $23,270,000 $24,434,000 Fringe Benefits 4,500,000 4,725,000 4,961,400 5,209,500 5,469,900 5,743,500 6,030,600 6,332,100 6,648,600 6,981,000 7,330,200 Other Expenses 1,000,000 1,030,000 1,061,000 1,093,000 1,126,000 1,160,000 1,195,000 1,231,000 1,268,000 1,306,000 1,345,000 Contracted Services 12,000,000 12,360,000 12,731,000 13,113,000 13,506,000 13,911,000 14,328,000 14,758,000 15,201,000 15,657,000 16,127,000 Repair & Maintenance 3,000,000 3,120,000 3,245,000 3,375,000 3,510,000 3,650,000 3,796,000 3,948,000 4,106,000 4,270,000 4,441,000 Insurance 1,000,000 1,030,000 1,061,000 1,093,000 1,126,000 1,160,000 1,195,000 1,231,000 1,268,000 1,306,000 1,345,000 Utilities 3,000,000 3,120,000 3,245,000 3,375,000 3,510,000 3,650,000 3,796,000 3,948,000 4,106,000 4,270,000 4,441,000 Education & Travel 500,000 515,000 530,000 546,000 562,000 579,000 596,000 614,000 632,000 651,000 671,000 Professional Services 2,500,000 2,600,000 2,704,000 2,812,000 2,924,000 3,041,000 3,163,000 3,290,000 3,422,000 3,559,000 3,701,000 Office Supplies 1,000,000 1,030,000 1,061,000 1,093,000 1,126,000 1,160,000 1,195,000 1,231,000 1,268,000 1,306,000 1,345,000 Incremental Terminal Expenses 0 0 0 0 0 1,000,000 1,030,000 1,061,000 1,500,000 1,545,000 1,591,000 Total O&M Expenses $43,500,000 $45,280,000 $47,137,400 $49,074,500 $51,092,900 $54,199,500 $56,426,600 $58,751,100 $61,581,600 $64,121,000 $66,771,200 By Cost Center (fully allocated): Airfield Area $10,875,000 $11,320,000 $11,784,350 $12,268,625 $12,773,225 $13,299,875 $13,849,150 $14,422,525 $15,020,400 $15,644,000 $16,295,050 Terminal Building 1/ 19,575,000 20,376,000 21,211,830 22,083,525 22,991,805 24,939,775 25,958,470 27,021,545 28,536,720 29,704,200 30,922,090 Other Buildings and Areas 13,050,000 13,584,000 14,141,220 14,722,350 15,327,870 15,959,850 16,618,980 17,307,030 18,024,480 18,772,800 19,554,060 Total O&M Expenses $43,500,000 $45,280,000 $47,137,400 $49,074,500 $51,092,900 $54,199,500 $56,426,600 $58,751,100 $61,581,600 $64,121,000 $66,771,200 Notes: 1/ Years 5 and 8 mark the incremental O&M expense impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-8 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-6 (b) Operation & Maintenance Expenses - Terminal Replacement Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total Airfield Non-Airline Revenue: FBO Revenue $2,000,000 $2,075,000 $2,121,000 $2,169,000 $2,218,000 $2,268,000 $2,319,000 $2,371,000 $2,425,000 $2,479,000 $2,535,000 $24,980,000 Cargo and Hangar Rentals 1,500,000 1,523,000 1,546,000 1,569,000 1,593,000 1,617,000 1,641,000 1,666,000 1,691,000 1,716,000 1,742,000 17,804,000 Fuel Flowage Fees 500,000 519,000 531,000 543,000 555,000 568,000 581,000 594,000 607,000 621,000 635,000 6,254,000 Total Airfield Non-Airline Revenue $4,000,000 $4,117,000 $4,198,000 $4,281,000 $4,366,000 $4,453,000 $4,541,000 $4,631,000 $4,723,000 $4,816,000 $4,912,000 $49,038,000 Terminal Non-Airline Revenue: Restaurants $1,800,000 $1,868,000 $1,938,000 $2,011,000 $2,086,000 $2,327,000 $2,414,000 $2,505,000 $2,794,000 $2,899,000 $3,008,000 $25,650,000 News and Gifts 1,700,000 1,764,000 1,830,000 1,899,000 1,970,000 2,197,000 2,279,000 2,364,000 2,637,000 2,736,000 2,839,000 24,215,000 Other Concessions 100,000 104,000 108,000 112,000 116,000 129,000 134,000 139,000 155,000 161,000 167,000 1,425,000 Advertising 200,000 208,000 216,000 224,000 232,000 259,000 269,000 279,000 311,000 323,000 335,000 2,856,000 Other 100,000 104,000 108,000 112,000 116,000 129,000 134,000 139,000 155,000 161,000 167,000 1,425,000 Non-Airline Space Rentals 400,000 406,000 412,000 418,000 424,000 430,000 436,000 443,000 450,000 457,000 464,000 4,740,000 Total Terminal Building $4,300,000 $4,454,000 $4,612,000 $4,776,000 $4,944,000 $5,471,000 $5,666,000 $5,869,000 $6,502,000 $6,737,000 $6,980,000 $60,311,000 Other Areas Non-Airline Revenue: Parking $16,000,000 $16,600,000 $17,220,000 $17,867,000 $18,535,000 $19,231,000 $19,950,000 $20,698,000 $21,477,000 $22,281,000 $23,117,000 $212,976,000 Rental Cars 8,000,000 8,300,000 8,610,000 8,933,000 9,267,000 9,615,000 9,974,000 10,348,000 10,737,000 11,139,000 11,557,000 106,480,000 Ground Transportation 1,000,000 1,038,000 1,077,000 1,117,000 1,159,000 1,203,000 1,248,000 1,295,000 1,344,000 1,394,000 1,446,000 13,321,000 Total Other Areas Non- Airline Revenue $25,000,000 $25,938,000 $26,907,000 $27,917,000 $28,961,000 $30,049,000 $31,172,000 $32,341,000 $33,558,000 $34,814,000 $36,120,000 $332,777,000 Total Airport Non-Airline Operating Revenue $33,300,000 $34,509,000 $35,717,000 $36,974,000 $38,271,000 $39,973,000 $41,379,000 $42,841,000 $44,783,000 $46,367,000 $48,012,000 $442,126,000 Non-Operating Revenue: Interest Income (Non-PFC): $1,309,000 $1,347,650 $1,296,636 $1,184,419 $1,122,871 $1,181,266 $1,276,643 $1,339,313 $1,673,380 $1,692,391 $2,340,736 $15,764,305 Total Non-Airline Revenue $34,609,000 $35,856,650 $37,013,636 $38,158,419 $39,393,871 $41,154,266 $42,655,643 $44,180,313 $46,456,380 $48,059,391 $50,352,736 $457,890,305 Notes: 1/ Years 5 and 8 mark the incremental non-airline revenue impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-9 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-7 (a) Non-Airline Revenue - Terminal Renewal Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total Airfield Non-Airline Revenue: FBO Revenue $2,000,000 $2,075,000 $2,121,000 $2,169,000 $2,218,000 $2,268,000 $2,319,000 $2,371,000 $2,425,000 $2,479,000 $2,535,000 $24,980,000 Cargo and Hangar Rentals 1,500,000 1,523,000 1,546,000 1,569,000 1,593,000 1,617,000 1,641,000 1,666,000 1,691,000 1,716,000 1,742,000 17,804,000 Fuel Flowage Fees 500,000 519,000 531,000 543,000 555,000 568,000 581,000 594,000 607,000 621,000 635,000 6,254,000 Total Airfield Non-Airline Revenue $4,000,000 $4,117,000 $4,198,000 $4,281,000 $4,366,000 $4,453,000 $4,541,000 $4,631,000 $4,723,000 $4,816,000 $4,912,000 $49,038,000 Terminal Non-Airline Revenue: Restaurants $1,800,000 $1,868,000 $1,938,000 $2,011,000 $2,086,000 $2,435,000 $2,526,000 $2,621,000 $3,060,000 $3,175,000 $3,294,000 $26,814,000 News and Gifts 1,700,000 1,764,000 1,830,000 1,899,000 1,970,000 2,299,000 2,385,000 2,474,000 2,888,000 2,996,000 3,108,000 25,313,000 Other Concessions 100,000 104,000 108,000 112,000 116,000 135,000 140,000 145,000 169,000 175,000 182,000 1,486,000 Advertising 200,000 208,000 216,000 224,000 232,000 271,000 281,000 292,000 341,000 354,000 367,000 2,986,000 Other 100,000 104,000 108,000 112,000 116,000 135,000 140,000 145,000 169,000 175,000 182,000 1,486,000 Non-Airline Space Rentals 400,000 406,000 412,000 418,000 424,000 495,000 502,000 537,000 627,000 650,000 660,000 5,531,000 Total Terminal Building $4,300,000 $4,454,000 $4,612,000 $4,776,000 $4,944,000 $5,770,000 $5,974,000 $6,214,000 $7,254,000 $7,525,000 $7,793,000 $63,616,000 Other Areas Non-Airline Revenue: Parking $16,000,000 $16,600,000 $17,220,000 $17,867,000 $18,535,000 $19,231,000 $19,950,000 $20,698,000 $21,477,000 $22,281,000 $23,117,000 $212,976,000 Rental Cars 8,000,000 8,300,000 8,610,000 8,933,000 9,267,000 9,615,000 9,974,000 10,348,000 10,737,000 11,139,000 11,557,000 106,480,000 Ground Transportation 1,000,000 1,038,000 1,077,000 1,117,000 1,159,000 1,203,000 1,248,000 1,295,000 1,344,000 1,394,000 1,446,000 13,321,000 Total Other Areas Non- Airline Revenue $25,000,000 $25,938,000 $26,907,000 $27,917,000 $28,961,000 $30,049,000 $31,172,000 $32,341,000 $33,558,000 $34,814,000 $36,120,000 $332,777,000 Total Airport Non-Airline Operating Revenue $33,300,000 $34,509,000 $35,717,000 $36,974,000 $38,271,000 $40,272,000 $41,687,000 $43,186,000 $45,535,000 $47,155,000 $48,825,000 $445,431,000 Non-Operating Revenue: Interest Income (Non-PFC): $1,309,000 $1,347,650 $1,276,288 $1,159,869 $1,178,320 $1,374,716 $1,432,593 $1,451,112 $1,467,025 $1,942,911 $2,004,701 $15,944,185 Total Non-Airline Revenue $34,609,000 $35,856,650 $36,993,288 $38,133,869 $39,449,320 $41,646,716 $43,119,593 $44,637,112 $47,002,025 $49,097,911 $50,829,701 $461,375,185 Notes: 1/ Years 5 and 8 mark the incremental non-airline revenue impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-9 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-7 (b) Non-Airline Revenue - Terminal Replacement Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 GARBs: Existing GARB Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 Terminal Project GARB Debt Service 18,900,000 18,900,000 18,900,000 35,300,000 35,300,000 35,300,000 Total GARB Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $22,900,000 $22,900,000 $22,900,000 $39,300,000 $39,300,000 $39,300,000 Less: PFCs Applied to GARB Debt Service 0 0 0 0 0 17,300,000 13,950,000 13,400,000 26,900,000 21,300,000 20,300,000 Net GARB Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $5,600,000 $8,950,000 $9,500,000 $12,400,000 $18,000,000 $19,000,000 PFC Bonds: Total PFC Bond Debt Service $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 Total Debt Service $5,000,000 $5,000,000 $5,000,000 $5,000,000 $5,000,000 $23,900,000 $23,900,000 $23,900,000 $40,300,000 $40,300,000 $40,300,000 GARB Debt Service by Cost Center: Airfield Area $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 Terminal Area 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 20,900,000 20,900,000 20,900,000 37,300,000 37,300,000 37,300,000 Other Areas 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 Total Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $22,900,000 $22,900,000 $22,900,000 $39,300,000 $39,300,000 $39,300,000 Notes: 1/ Years 5 and 8 mark the incremental non-airline revenue impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-10 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-8 (a) Debt Service - Terminal Renewal Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 GARBs: Existing GARB Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 Terminal Project GARB Debt Service 13,400,000 13,400,000 13,400,000 29,300,000 29,300,000 29,300,000 Total GARB Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $17,400,000 $17,400,000 $17,400,000 $33,300,000 $33,300,000 $33,300,000 Less: PFCs Applied to GARB Debt Service 0 0 0 0 0 14,900,000 12,600,000 12,200,000 30,800,000 25,500,000 24,300,000 Net GARB Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $2,500,000 $4,800,000 $5,200,000 $2,500,000 $7,800,000 $9,000,000 PFC Bonds: Total PFC Bond Debt Service $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 Total Debt Service $5,000,000 $5,000,000 $5,000,000 $5,000,000 $5,000,000 $18,400,000 $18,400,000 $18,400,000 $34,300,000 $34,300,000 $34,300,000 GARB Debt Service by Cost Center: Airfield Area $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 Terminal Area 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 15,400,000 15,400,000 15,400,000 31,300,000 31,300,000 31,300,000 Other Areas 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000 Total Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $17,400,000 $17,400,000 $17,400,000 $33,300,000 $33,300,000 $33,300,000 Notes: 1/ Years 5 and 8 mark the incremental non-airline revenue impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-10 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-8 (b) Debt Service - Terminal Replacement Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Debt Service $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,000,000 $15,400,000 $15,400,000 $15,400,000 $31,300,000 $31,300,000 $31,300,000 Terminal Debt Service Coverage (1.25x) 500,000 500,000 500,000 500,000 500,000 3,850,000 3,850,000 3,850,000 7,825,000 7,825,000 7,825,000 Terminal Operating Expenses 19,575,000 20,376,000 21,211,830 22,083,525 22,991,805 25,939,775 26,988,470 28,082,545 32,222,720 33,501,200 34,833,090 Terminal Operating Expense Reserve 200,000 200,250 208,958 217,924 227,070 736,993 262,174 273,519 1,035,044 319,620 332,973 Total Requirement $22,275,000 $23,076,250 $23,920,788 $24,801,449 $25,718,875 $45,926,768 $46,500,644 $47,606,064 $72,382,764 $72,945,820 $74,291,063 Less: Terminal Non-Airline Revenues ($4,300,000) ($4,454,000) ($4,612,000) ($4,776,000) ($4,944,000) ($5,471,000) ($5,666,000) ($5,869,000) ($6,502,000) ($6,737,000) ($6,980,000) Terminal Rental Rate Revenue Credit (9,934,000) (10,368,150) (10,723,111) (11,033,786) (11,404,621) (11,912,421) (10,464,881) (11,001,270) (11,827,538) (12,346,511) (13,511,361) Prior Year Debt Service Coverage Credit (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (3,850,000) (3,850,000) (3,850,000) (7,825,000) (7,825,000) Non-Signatory Terminal Fees (618,115) (637,008) (665,462) (699,666) (731,430) (1,083,958) (1,147,836) (1,210,170) (1,596,973) (1,687,904) (1,784,540) PFCs Applied to Debt Service (14,900,000) (12,600,000) (12,200,000) (30,800,000) (25,500,000) (24,300,000) Net Signatory Requirement $6,922,885 $7,117,092 $7,420,215 $7,791,997 $8,138,824 $12,059,389 $12,771,926 $13,475,624 $17,806,253 $18,849,405 $19,890,161 Total Leased Space 149,000 149,000 149,000 149,000 149,000 157,500 157,500 157,500 166,000 166,000 166,000 Signatory Terminal Rental Rate $46.46 $47.77 $49.80 $52.30 $54.62 $76.57 $81.09 $85.56 $107.27 $113.55 $119.82 Signatory Terminal Rental Revenue $6,922,885 $7,117,092 $7,420,215 $7,791,997 $8,138,824 $12,059,389 $12,771,926 $13,475,624 $17,806,253 $18,849,405 $19,890,161 Non-Signatory Terminal Rental Revenue 618,115 637,008 665,462 699,666 731,430 1,083,958 1,147,836 1,210,170 1,596,973 1,687,904 1,784,540 Total Terminal Rental Revenue $7,541,000 $7,754,100 $8,085,676 $8,491,662 $8,870,254 $13,143,346 $13,919,763 $14,685,794 $19,403,226 $20,537,309 $21,674,701 Notes: 1/ Years 5 and 8 mark the incremental non-airline revenue impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-11 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-9 (a) Terminal Rental Rate (Cost Center Residual Example) - Terminal Renewal Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Terminal Debt Service $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,000,000 $20,900,000 $20,900,000 $20,900,000 $37,300,000 $37,300,000 $37,300,000 Terminal Debt Service Coverage (1.25x) 500,000 500,000 500,000 500,000 500,000 5,225,000 5,225,000 5,225,000 9,325,000 9,325,000 9,325,000 Terminal Operating Expenses 19,575,000 20,376,000 21,211,830 22,083,525 22,991,805 24,939,775 25,958,470 27,021,545 28,536,720 29,704,200 30,922,090 Terminal Operating Expense Reserve 200,000 200,250 208,958 217,924 227,070 486,993 254,674 265,769 378,794 291,870 304,473 Total Requirement $22,275,000 $23,076,250 $23,920,788 $24,801,449 $25,718,875 $51,551,768 $52,338,144 $53,412,314 $75,540,514 $76,621,070 $77,851,563 Less: Terminal Non-Airline Revenues ($4,300,000) ($4,454,000) ($4,612,000) ($4,776,000) ($4,944,000) ($5,770,000) ($5,974,000) ($6,214,000) ($7,254,000) ($7,525,000) ($7,793,000) Terminal Rental Rate Revenue Credit (9,934,000) (10,368,150) (10,702,763) (11,009,236) (11,460,070) (12,105,871) (10,620,831) (11,113,070) (11,621,182) (12,597,031) (13,175,326) Prior Year Debt Service Coverage Credit (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (5,225,000) (5,225,000) (5,225,000) (9,325,000) (9,325,000) Non-Signatory Terminal Fees (618,115) (637,008) (667,136) (701,688) (726,858) (1,309,316) (1,366,238) (1,438,796) (2,019,780) (2,126,514) (2,244,249) PFCs Applied to Debt Service 0 0 0 0 0 (17,300,000) (13,950,000) (13,400,000) (26,900,000) (21,300,000) (20,300,000) Net Signatory Requirement $6,922,885 $7,117,092 $7,438,889 $7,814,524 $8,087,947 $14,566,580 $15,202,075 $16,021,448 $22,520,551 $23,747,525 $25,013,988 Total Leased Space 149,000 149,000 149,000 149,000 149,000 154,787 154,787 154,787 156,000 156,000 156,000 Signatory Terminal Rental Rate $46.46 $47.77 $49.93 $52.45 $54.28 $94.11 $98.21 $103.51 $144.36 $152.23 $160.35 Signatory Terminal Rental Revenue $6,922,885 $7,117,092 $7,438,889 $7,814,524 $8,087,947 $14,566,580 $15,202,075 $16,021,448 $22,520,551 $23,747,525 $25,013,988 Non-Signatory Terminal Rental Revenue 618,115 637,008 667,136 701,688 726,858 1,309,316 1,366,238 1,438,796 2,019,780 2,126,514 2,244,249 Total Terminal Rental Revenue $7,541,000 $7,754,100 $8,106,025 $8,516,213 $8,814,805 $15,875,896 $16,568,313 $17,460,244 $24,540,331 $25,874,039 $27,258,237 Notes: 1/ Years 5 and 8 mark the incremental non-airline revenue impacts of the assumed terminal project alternative. 2/ Table corresponds to Exhibit 9-11 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-9 (b) Terminal Rental Rate (Cost Center Residual Example) - Terminal Replacement Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Airfield Debt Service $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 Airfield Debt Service Coverage (1.25X) 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 Airfield Operating Expenses 10,875,000 11,320,000 11,784,350 12,268,625 12,773,225 13,299,875 13,849,150 14,422,525 15,020,400 15,644,000 16,295,050 Airfield Operating Expense Reserve 100,000 111,250 116,088 121,069 126,150 131,663 137,319 143,344 149,469 155,900 162,763 Total Airfield Requirement $11,975,000 $12,431,250 $12,900,438 $13,389,694 $13,899,375 $14,431,538 $14,986,469 $15,565,869 $16,169,869 $16,799,900 $17,457,813 Less: Airfield Non-Airline Revenue ($4,000,000) ($4,117,000) ($4,198,000) ($4,281,000) ($4,366,000) ($4,453,000) ($4,541,000) ($4,631,000) ($4,723,000) ($4,816,000) ($4,912,000) Non-Signatory Airline Revenue (637,295) (666,019) (698,490) (732,154) (767,182) (803,559) (841,364) (880,804) (921,690) (966,840) (1,013,701) Prior Year Debt Service Coverage Credit (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) Net Signatory Requirement $7,137,705 $7,448,231 $7,803,948 $8,176,540 $8,566,193 $8,974,978 $9,404,105 $9,854,065 $10,325,179 $10,817,060 $11,332,111 Signatory Landed Weight 3,920,000 3,998,000 4,078,000 4,160,000 4,243,000 4,328,000 4,415,000 4,503,000 4,593,000 4,685,000 4,779,000 Signatory Landing Fee $1.82 $1.86 $1.91 $1.97 $2.02 $2.07 $2.13 $2.19 $2.25 $2.31 $2.37 Non Signatory Landing Fee (1.25x) $2.28 $2.33 $2.39 $2.46 $2.52 $2.59 $2.66 $2.74 $2.81 $2.89 $2.96 Signatory Landing Fee Revenue $7,137,705 $7,448,231 $7,803,948 $8,176,540 $8,566,193 $8,974,978 $9,404,105 $9,854,065 $10,325,179 $10,817,060 $11,332,111 Non-Signatory Landing Fee Revenue 637,295 666,019 698,490 732,154 767,182 803,559 841,364 880,804 921,690 966,840 1,013,701 Total Landing Fee Revenue $7,775,000 $8,114,250 $8,502,438 $8,908,694 $9,333,375 $9,778,538 $10,245,469 $10,734,869 $11,246,869 $11,783,900 $12,345,813 CPE Calculation: Signatory Airline Revenue $14,060,590 $14,565,323 $15,224,162 $15,968,537 $16,705,017 $21,034,367 $22,176,031 $23,329,689 $28,131,431 $29,666,466 $31,222,272 Non-Signatory Airline Landing Fees 637,295 666,019 698,490 732,154 767,182 803,559 841,364 880,804 921,690 966,840 1,013,701 Non-Signatory Airline Terminal Rents 618,115 637,008 665,462 699,666 731,430 1,083,958 1,147,836 1,210,170 1,596,973 1,687,904 1,784,540 Total Airline Requirement $15,316,000 $15,868,350 $16,588,114 $17,400,356 $18,203,629 $22,921,884 $24,165,232 $25,420,662 $30,650,095 $32,321,209 $34,020,514 Total Projected Enplaned Passengers 3,000,000 3,068,000 3,137,000 3,208,000 3,280,000 3,354,000 3,429,000 3,506,000 3,585,000 3,665,000 3,748,000 Total Airline Cost per Enplaned Passenger $5.11 $5.17 $5.29 $5.42 $5.55 $6.83 $7.05 $7.25 $8.55 $8.82 $9.08 CPE in Current Year Dollars (3%) $5.11 $5.02 $4.98 $4.96 $4.93 $5.90 $5.90 $5.90 $6.75 $6.76 $6.75 Note: 1/ Table corresponds to Exhibit 9-12 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-10 (a) Landing Fee Rate (Cost Center Residual Example) and Cost Per Enplanement - Terminal Renewal Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Airfield Debt Service $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 Airfield Debt Service Coverage (1.25X) 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 Airfield Operating Expenses 10,875,000 11,320,000 11,784,350 12,268,625 12,773,225 13,299,875 13,849,150 14,422,525 15,020,400 15,644,000 16,295,050 Airfield Operating Expense Reserve 100,000 111,250 116,088 121,069 126,150 131,663 137,319 143,344 149,469 155,900 162,763 Total Airfield Requirement $11,975,000 $12,431,250 $12,900,438 $13,389,694 $13,899,375 $14,431,538 $14,986,469 $15,565,869 $16,169,869 $16,799,900 $17,457,813 Less: Airfield Non-Airline Revenue ($4,000,000) ($4,117,000) ($4,198,000) ($4,281,000) ($4,366,000) ($4,453,000) ($4,541,000) ($4,631,000) ($4,723,000) ($4,816,000) ($4,912,000) Non-Signatory Airline Revenue (637,295) (666,019) (698,490) (732,154) (767,182) (803,559) (841,364) (880,804) (921,690) (966,840) (1,013,701) Prior Year Debt Service Coverage Credit (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) (200,000) Net Signatory Requirement $7,137,705 $7,448,231 $7,803,948 $8,176,540 $8,566,193 $8,974,978 $9,404,105 $9,854,065 $10,325,179 $10,817,060 $11,332,111 Signatory Landed Weight 3,920,000 3,998,000 4,078,000 4,160,000 4,243,000 4,328,000 4,415,000 4,503,000 4,593,000 4,685,000 4,779,000 Signatory Landing Fee $1.82 $1.86 $1.91 $1.97 $2.02 $2.07 $2.13 $2.19 $2.25 $2.31 $2.37 Non Signatory Landing Fee (1.25x) $2.28 $2.33 $2.39 $2.46 $2.52 $2.59 $2.66 $2.74 $2.81 $2.89 $2.96 Signatory Landing Fee Revenue $7,137,705 $7,448,231 $7,803,948 $8,176,540 $8,566,193 $8,974,978 $9,404,105 $9,854,065 $10,325,179 $10,817,060 $11,332,111 Non-Signatory Landing Fee Revenue 637,295 666,019 698,490 732,154 767,182 803,559 841,364 880,804 921,690 966,840 1,013,701 Total Landing Fee Revenue $7,775,000 $8,114,250 $8,502,438 $8,908,694 $9,333,375 $9,778,538 $10,245,469 $10,734,869 $11,246,869 $11,783,900 $12,345,813 CPE Calculation: Signatory Airline Revenue $14,060,590 $14,565,323 $15,242,836 $15,991,064 $16,654,140 $23,541,558 $24,606,180 $25,875,513 $32,845,729 $34,564,585 $36,346,099 Non-Signatory Airline Landing Fees 637,295 666,019 698,490 732,154 767,182 803,559 841,364 880,804 921,690 966,840 1,013,701 Non-Signatory Airline Terminal Rents 618,115 637,008 667,136 701,688 726,858 1,309,316 1,366,238 1,438,796 2,019,780 2,126,514 2,244,249 Total Airline Requirement $15,316,000 $15,868,350 $16,608,463 $17,424,906 $18,148,180 $25,654,434 $26,813,782 $28,195,113 $35,787,200 $37,657,939 $39,604,049 Total Projected Enplaned Passengers 3,000,000 3,068,000 3,137,000 3,208,000 3,280,000 3,354,000 3,429,000 3,506,000 3,585,000 3,665,000 3,748,000 Total Airline Cost per Enplaned Passenger $5.11 $5.17 $5.29 $5.43 $5.53 $7.65 $7.82 $8.04 $9.98 $10.28 $10.57 CPE in Current Year Dollars (3%) $5.11 $5.02 $4.99 $4.97 $4.92 $6.60 $6.55 $6.54 $7.88 $7.87 $7.86 Note: 1/ Table corresponds to Exhibit 9-12 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-10 (b) Landing Fee Rate (Cost Center Residual Example) and Cost Per Enplanement - Terminal Replacement Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Signatory Terminal Rental Revenue $6,922,885 $7,117,092 $7,420,215 $7,791,997 $8,138,824 $12,059,389 $12,771,926 $13,475,624 $17,806,253 $18,849,405 $19,890,161 Non-Signatory Terminal Rental Revenue 618,115 637,008 665,462 699,666 731,430 1,083,958 1,147,836 1,210,170 1,596,973 1,687,904 1,784,540 Signatory Landing Fee Revenue 7,137,705 7,448,231 7,803,948 8,176,540 8,566,193 8,974,978 9,404,105 9,854,065 10,325,179 10,817,060 11,332,111 Non-Signatory Landing Fee Revenue 637,295 666,019 698,490 732,154 767,182 803,559 841,364 880,804 921,690 966,840 1,013,701 Non-Airline Operating Revenue 33,300,000 34,509,000 35,717,000 36,974,000 38,271,000 39,973,000 41,379,000 42,841,000 44,783,000 46,367,000 48,012,000 Non-Operating Revenue 1,309,000 1,347,650 1,296,636 1,184,419 1,122,871 1,181,266 1,276,643 1,339,313 1,673,380 1,692,391 2,340,736 Prior Year Debt Service Coverage 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 4,350,000 4,350,000 4,350,000 8,325,000 8,325,000 PFCs Applied to Debt Service 14,900,000 12,600,000 12,200,000 30,800,000 25,500,000 24,300,000 Total Revenue $50,925,000 $52,725,000 $54,601,750 $56,558,775 $58,597,500 $79,976,150 $83,770,875 $86,150,975 $112,256,475 $114,205,600 $116,998,250 Less: Operating Expenses 43,500,000 45,280,000 47,137,400 49,074,500 51,092,900 55,199,500 57,456,600 59,812,100 65,267,600 67,918,000 70,682,200 Net Revenue $7,425,000 $7,445,000 $7,464,350 $7,484,275 $7,504,600 $24,776,650 $26,314,275 $26,338,875 $46,988,875 $46,287,600 $46,316,050 Less Transfers To: Debt Service Fund $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $17,400,000 $17,400,000 $17,400,000 $33,300,000 $33,300,000 $33,300,000 Debt Service Coverage Fund 0 0 0 0 0 3,350,000 0 0 3,975,000 0 0 Prior Year Debt Service Coverage 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 4,350,000 4,350,000 4,350,000 8,325,000 8,325,000 O&M Expense Reserve Fund 425,000 445,000 464,350 484,275 504,600 1,026,650 564,275 588,875 1,363,875 662,600 691,050 Remaining Revenue for Airport Discretionary Fund $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 Coverage Calculation: Net Revenue $7,425,000 $7,445,000 $7,464,350 $7,484,275 $7,504,600 $24,776,650 $26,314,275 $26,338,875 $46,988,875 $46,287,600 $46,316,050 Total Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $17,400,000 $17,400,000 $17,400,000 $33,300,000 $33,300,000 $33,300,000 Debt Service Coverage 1.86 1.86 1.87 1.87 1.88 1.42 1.51 1.51 1.41 1.39 1.39 Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-11 (a) Net Cash Flow and Debt Service Coverage - Terminal Renewal Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Signatory Terminal Rental Revenue $6,922,885 $7,117,092 $7,438,889 $7,814,524 $8,087,947 $14,566,580 $15,202,075 $16,021,448 $22,520,551 $23,747,525 $25,013,988 Non-Signatory Terminal Rental Revenue 618,115 637,008 667,136 701,688 726,858 1,309,316 1,366,238 1,438,796 2,019,780 2,126,514 2,244,249 Signatory Landing Fee Revenue 7,137,705 7,448,231 7,803,948 8,176,540 8,566,193 8,974,978 9,404,105 9,854,065 10,325,179 10,817,060 11,332,111 Non-Signatory Landing Fee Revenue 637,295 666,019 698,490 732,154 767,182 803,559 841,364 880,804 921,690 966,840 1,013,701 Non-Airline Operating Revenue 33,300,000 34,509,000 35,717,000 36,974,000 38,271,000 40,272,000 41,687,000 43,186,000 45,535,000 47,155,000 48,825,000 Non-Operating Revenue 1,309,000 1,347,650 1,276,288 1,159,869 1,178,320 1,374,716 1,432,593 1,451,112 1,467,025 1,942,911 2,004,701 Prior Year Debt Service Coverage 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 5,725,000 5,725,000 5,725,000 9,825,000 9,825,000 PFCs Applied to Debt Service 0 0 0 0 0 17,300,000 13,950,000 13,400,000 26,900,000 21,300,000 20,300,000 Total Revenue $50,925,000 $52,725,000 $54,601,750 $56,558,775 $58,597,500 $85,601,150 $89,608,375 $91,957,225 $115,414,225 $117,880,850 $120,558,750 Less: Operating Expenses 43,500,000 45,280,000 47,137,400 49,074,500 51,092,900 54,199,500 56,426,600 58,751,100 61,581,600 64,121,000 66,771,200 Net Revenue $7,425,000 $7,445,000 $7,464,350 $7,484,275 $7,504,600 $31,401,650 $33,181,775 $33,206,125 $53,832,625 $53,759,850 $53,787,550 Less Transfers To: Debt Service Fund $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $22,900,000 $22,900,000 $22,900,000 $39,300,000 $39,300,000 $39,300,000 Debt Service Coverage Fund 0 0 0 0 0 4,725,000 0 0 4,100,000 0 0 Prior Year Debt Service Coverage 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 5,725,000 5,725,000 5,725,000 9,825,000 9,825,000 O&M Expense Reserve Fund 425,000 445,000 464,350 484,275 504,600 776,650 556,775 581,125 707,625 634,850 662,550 Remaining Revenue for Airport Discretionary Fund $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 Coverage Calculation: Net Revenue $7,425,000 $7,445,000 $7,464,350 $7,484,275 $7,504,600 $31,401,650 $33,181,775 $33,206,125 $53,832,625 $53,759,850 $53,787,550 Total Debt Service $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $22,900,000 $22,900,000 $22,900,000 $39,300,000 $39,300,000 $39,300,000 Debt Service Coverage 1.86 1.86 1.87 1.87 1.88 1.37 1.45 1.45 1.37 1.37 1.37 Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-11 (b) Net Cash Flow and Debt Service Coverage - Terminal Replacement Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Revenue Fund Beginning Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Deposit: Total Revenue 49,925,000 51,725,000 53,601,750 55,558,775 57,597,500 78,976,150 79,420,875 81,800,975 103,931,475 105,880,600 108,673,250 Expend: O&M Expenses 43,500,000 45,280,000 47,137,400 49,074,500 51,092,900 55,199,500 57,456,600 59,812,100 65,267,600 67,918,000 70,682,200 Transfer: Debt Service Fund 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 17,400,000 17,400,000 17,400,000 33,300,000 33,300,000 33,300,000 Transfer: Debt Service Coverage Fund 0 0 0 0 0 3,350,000 0 0 3,975,000 0 0 Transfer: O&M Expense Reserve Fund 425,000 445,000 464,350 484,275 504,600 1,026,650 564,275 588,875 1,363,875 662,600 691,050 Transfer: Discretionary Fund 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 4,000,000 4,000,000 25,000 4,000,000 4,000,000 Ending Balance (Working Cap. Acct) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Debt Service Fund Beginning Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 DEPOSIT: Transfer From Revenue Fund 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 17,400,000 17,400,000 17,400,000 33,300,000 33,300,000 33,300,000 EXPEND: Debt Service 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 17,400,000 17,400,000 17,400,000 33,300,000 33,300,000 33,300,000 Ending Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Debt Service Coverage Fund Beginning Balance $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $4,350,000 $4,350,000 $4,350,000 $8,325,000 $8,325,000 Deposit: Transfer From Revenue Fund $0 $0 $0 $0 $0 $3,350,000 $0 $0 $3,975,000 $0 $0 Ending Balance $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $4,350,000 $4,350,000 $4,350,000 $8,325,000 $8,325,000 $8,325,000 Debt Service Reserve Fund Beginning Balance $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $17,400,000 $17,400,000 $17,400,000 $33,300,000 $33,300,000 $62,600,000 Transfer From Bond Issue 0 0 0 0 0 0 0 0 0 29,300,000 0 Expend: Debt Service Reserve 0 0 0 0 0 0 0 0 0 0 0 Ending Balance $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $17,400,000 $17,400,000 $17,400,000 $33,300,000 $62,600,000 $62,600,000 O&M Expense Reserve Fund Beginning Balance $10,450,000 $10,875,000 $11,320,000 $11,784,350 $12,268,625 $12,773,225 $13,799,875 $14,364,150 $14,953,025 $16,316,900 $16,979,500 Deposit: Transfer From Revenue Fund 425,000 445,000 464,350 484,275 504,600 1,026,650 564,275 588,875 1,363,875 662,600 691,050 Ending Balance $10,875,000 $11,320,000 $11,784,350 $12,268,625 $12,773,225 $13,799,875 $14,364,150 $14,953,025 $16,316,900 $16,979,500 $17,670,550 Discretionary Fund Beginning Balance $50,000,000 $51,507,500 $48,511,813 $42,436,588 $38,874,908 $27,890,090 $28,282,300 $30,851,478 $31,065,983 $26,677,653 $29,132,310 Deposit: Transfer From Revenue Fund 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 4,000,000 4,000,000 25,000 4,000,000 4,000,000 Expend: Capital Expenditures 492,500 4,995,688 8,075,224 5,561,680 12,984,818 1,607,790 1,430,821 3,785,495 4,413,330 1,545,343 1,681,166 Ending Balance $51,507,500 $48,511,813 $42,436,588 $38,874,908 $27,890,090 $28,282,300 $30,851,478 $31,065,983 $26,677,653 $29,132,310 $31,451,144 Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-12 (a) Authority Flow of Funds - Terminal Renewal Alternative
Projected Fiscal Year Ending: Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Revenue Fund Beginning Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Deposit: Total Revenue 49,925,000 51,725,000 53,601,750 55,558,775 57,597,500 85,601,150 83,883,375 86,232,225 109,689,225 108,055,850 110,733,750 Expend: O&M Expenses 43,500,000 45,280,000 47,137,400 49,074,500 51,092,900 54,199,500 56,426,600 58,751,100 61,581,600 64,121,000 66,771,200 Transfer: Debt Service Fund 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 22,900,000 22,900,000 22,900,000 39,300,000 39,300,000 39,300,000 Transfer: Debt Service Coverage Fund 0 0 0 0 0 4,725,000 0 0 4,100,000 0 0 Transfer: O&M Expense Reserve Fund 425,000 445,000 464,350 484,275 504,600 776,650 556,775 581,125 707,625 634,850 662,550 Transfer: Discretionary Fund 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 3,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Ending Balance (Working Cap. Acct) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Debt Service Fund Beginning Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 DEPOSIT: Transfer From Revenue Fund 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 22,900,000 22,900,000 22,900,000 39,300,000 39,300,000 39,300,000 EXPEND: Debt Service 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 22,900,000 22,900,000 22,900,000 39,300,000 39,300,000 39,300,000 Ending Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Debt Service Coverage Fund Beginning Balance $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $5,725,000 $5,725,000 $5,725,000 $9,825,000 $9,825,000 Deposit: Transfer From Revenue Fund $0 $0 $0 $0 $0 $4,725,000 $0 $0 $4,100,000 $0 $0 Ending Balance $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000 $5,725,000 $5,725,000 $5,725,000 $9,825,000 $9,825,000 $9,825,000 Debt Service Reserve Fund Beginning Balance $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $22,900,000 $22,900,000 $22,900,000 $22,900,000 $39,300,000 $39,300,000 Transfer From Bond Issue 0 0 0 0 0 0 0 0 35,300,000 0 0 Expend: Debt Service Reserve 0 0 0 0 0 0 0 0 0 0 0 Ending Balance $4,000,000 $4,000,000 $4,000,000 $4,000,000 $4,000,000 $22,900,000 $22,900,000 $22,900,000 $58,200,000 $39,300,000 $39,300,000 O&M Expense Reserve Fund Beginning Balance $10,450,000 $10,875,000 $11,320,000 $11,784,350 $12,268,625 $12,773,225 $13,549,875 $14,106,650 $14,687,775 $15,395,400 $16,030,250 Deposit: Transfer From Revenue Fund 425,000 445,000 464,350 484,275 504,600 776,650 556,775 581,125 707,625 634,850 662,550 Ending Balance $10,875,000 $11,320,000 $11,784,350 $12,268,625 $12,773,225 $13,549,875 $14,106,650 $14,687,775 $15,395,400 $16,030,250 $16,692,800 Discretionary Fund Beginning Balance $50,000,000 $51,507,500 $47,494,375 $41,209,077 $41,647,397 $32,062,578 $29,454,788 $29,823,967 $30,038,471 $32,625,141 $35,079,798 Deposit: Transfer From Revenue Fund 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 3,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 Expend: Capital Expenditures 492,500 6,013,125 8,285,298 1,561,680 11,584,818 5,607,790 3,630,821 3,785,495 1,413,330 1,545,343 1,681,166 Ending Balance $51,507,500 $47,494,375 $41,209,077 $41,647,397 $32,062,578 $29,454,788 $29,823,967 $30,038,471 $32,625,141 $35,079,798 $37,398,633 Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc. September 2011. Table B-12 (b) Authority Flow of Funds - Terminal Replacement Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Projected Enplanements 3,000,000 3,068,000 3,137,000 3,208,000 3,280,000 3,354,000 3,429,000 3,506,000 3,585,000 3,665,000 3,748,000 Debt per enplaned passenger $12.98 $12.15 $11.32 $64.79 $61.86 $58.94 $116.31 $111.14 $105.97 $100.85 $95.71 Days cash on hand (Ending Balance) 441 399 336 297 206 203 224 216 185 201 205 CPE $5.11 $5.17 $5.29 $5.42 $5.55 $6.83 $7.05 $7.25 $8.55 $8.82 $9.08 CPE - Year 1 Current Dollars $5.11 $5.02 $4.98 $4.96 $4.93 $5.90 $5.90 $5.90 $6.75 $6.76 $6.75 Coverage ratio (x) 1.86 1.86 1.87 1.87 1.88 1.42 1.51 1.51 1.41 1.39 1.39 Direct Terminal Expenses/ Sq. Ft. $17.35 $18.06 $18.80 $19.58 $20.38 $19.79 $20.59 $21.42 $21.57 $22.42 $23.32 Revenue Per Enplanement: Food and Beverage/ EP $0.60 $0.61 $0.62 $0.63 $0.64 $0.69 $0.70 $0.71 $0.78 $0.79 $0.80 News and Gifts/ EP $0.57 $0.57 $0.58 $0.59 $0.60 $0.66 $0.66 $0.67 $0.74 $0.75 $0.76 Parking/ EP $5.33 $5.41 $5.49 $5.57 $5.65 $5.73 $5.82 $5.90 $5.99 $6.08 $6.17 Rental Car/ EP $2.67 $2.71 $2.74 $2.78 $2.83 $2.87 $2.91 $2.95 $2.99 $3.04 $3.08 Note: 1/ Table consistent with Table 9-4 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-13 (a) Summary Financial Metrics - Terminal Renewal Alternative
Projected Current Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Projected Enplanements 3,000,000 3,068,000 3,137,000 3,208,000 3,280,000 3,354,000 3,429,000 3,506,000 3,585,000 3,665,000 3,748,000 Debt per enplaned passenger $12.98 $12.69 $12.42 $90.07 $86.90 $83.74 $143.91 $138.44 $133.00 $127.62 $122.23 Days cash on hand (Ending Balance) 441 391 327 317 236 218 230 222 236 256 258 CPE $5.11 $5.17 $5.29 $5.43 $5.53 $7.65 $7.82 $8.04 $9.98 $10.28 $10.57 CPE - Year 1 Current Dollars $5.11 $5.02 $4.99 $4.97 $4.92 $6.60 $6.55 $6.54 $7.88 $7.87 $7.86 Coverage ratio (x) 1.86 1.86 1.87 1.87 1.88 1.37 1.45 1.45 1.37 1.37 1.37 Direct Terminal Expenses/ Sq. Ft. 17.35 18.06 18.80 19.58 20.38 18.98 19.76 20.56 21.09 21.95 22.85 Revenue Per Enplanement: Food and Beverage/ EP $0.60 $0.61 $0.62 $0.63 $0.64 $0.73 $0.74 $0.75 $0.85 $0.87 $0.88 News and Gifts/ EP $0.57 $0.57 $0.58 $0.59 $0.60 $0.69 $0.70 $0.71 $0.81 $0.82 $0.83 Parking/ EP $5.33 $5.41 $5.49 $5.57 $5.65 $5.73 $5.82 $5.90 $5.99 $6.08 $6.17 Rental Car/ EP $2.67 $2.71 $2.74 $2.78 $2.83 $2.87 $2.91 $2.95 $2.99 $3.04 $3.08 Note: 1/ Table consistent with Table 9-5 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-13 (b) Summary Financial Metrics - Terminal Replacement Alternative
B-28 Guidebook for evaluating Terminal Renewal Versus Replacement Options Global Assumptions Year 8 Reduced Activity Scenario Year 8 Project Cost Increase Scenario Year 8 Projected Enplanements 3,585,000 3,316,000 3,585,000 Terminal Project Alternative Cost $409,486,751 $409,486,751 $450,435,427 Nominal CPE $8.55 $10.44 $9.64 Real CPE - Year 1 Current Dollars $6.75 $8.25 $7.61 Real CPE - Variance $1.50 $0.86 Note: 1/ Table consistent with Table 9-6 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-14 (a) Sensitivity Analysis Scenario Comparison - Terminal Renewal Alternative Global Assumptions Year 8 Reduced Activity Scenario Year 8 Project Cost Increase Scenario Year 8 Projected Enplanements 3,585,000 3,316,000 3,585,000 Terminal Project Alternative Cost $492,078,419 $492,078,419 $541,286,261 Nominal CPE $9.98 $12.34 $11.14 Real CPE - Year 1 Current Dollars $7.88 $9.74 $8.80 Real CPE - Variance $1.86 $0.92 Note: 1/ Table consistent with Table 9-7 within Chapter 9 of the Guidebook. Source: Ricondo & Associates, Inc. September 2011. Prepared by: Ricondo & Associates, Inc., September 2011. Table B-14 (b) Sensitivity Analysis Scenario Comparison - Terminal Replacement Alternative
