Evaluating and Implementing Airport Privatization and Public-Private Partnerships (2021) / Chapter Skim
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Pages 136-143
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From page 136... ...
136 South Suburban Airport A P P E N D I X D Project Vignettes Transaction Highlights • This vignette shows the complexity of navigating the political processes of a P3, particularly as the actors change over time. • A request for interest can help to ascertain interest and appetite for the project as well as solicit information from potential developers about the financial feasibility of the project.
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From page 137... ...
Project Vignettes 137 Location: Baltimore, Maryland Project Scope: 250-room hotel adjacent to terminal Total Capital Cost: N/A Term: N/A Status: Cancelled Airport Owner: Maryland Aviation Administration, Maryland Department of Transportation Private Partner: N/A runways and a passenger terminal complex with 250 gates on approximately 20,000 acres." IDOT issued an RFI in March 2017 to seek the input of developers that would "perform other phase 1 predevelopment work including conducting a feasibility analysis, and formulating a financing and business plan." IDOT received six responses to an RFI released in March 2017. In its RFI, IDOT describes its interest in using a PDA to develop SSA because "an early partnership with an experienced private sector airport developer and collaborative development approach could provide the commercial and technical expertise and financial investment that would accelerate Project implementation and operational and commercial success." Baltimore-Washington International Thurgood Marshall Airport Hotel Transaction Highlights • This vignette illustrates the importance of market conditions at the time of the procurement.
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From page 138... ...
138 Evaluating and Implementing Airport Privatization and Public-Private Partnerships what should be built (high-end, full-service hotel) , and did not provide the flexibility to develop a profitable project.
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From page 139... ...
Project Vignettes 139 Location: Phoenix, Arizona Project Scope: Commercial Facilities (hotel, office, parking) Delivery Method: DBFOM Total Capital Cost: TBD Term: TBD Status: Cancelled Airport Owner: City of Phoenix Private Partner: Project Cancelled Phoenix Sky Harbor International Airport, Commercial Facilities Transaction Highlights • This vignette demonstrates the value of input gathered from private industry during the RFI process and how it impacts the transaction's structure.
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140 Evaluating and Implementing Airport Privatization and Public-Private Partnerships Chicago Midway Airport Privatization II (2013) Transaction Highlights • This vignette focuses specifically on the transaction that occurred after 2008 in Chicago at Midway Airport.
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Project Vignettes 141 Transaction Highlights • Limiting competition and public transparency complicate the likelihood of success for a P3. • The political risk of a P3 is a key consideration.
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142 Evaluating and Implementing Airport Privatization and Public-Private Partnerships Terminals at John F Kennedy International Airport have historically been developed and operated by airlines and private companies, without a focus on central planning or cohesion.
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From page 143... ...
Project Vignettes 143 The governor's plan also indicated an interest in retaining and expanding Terminal 4, 5, and 8, the newer terminals at John F Kennedy International Airport.
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