Evaluating and Implementing Airport Privatization and Public-Private Partnerships (2021) / Chapter Skim
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Pages 172-179
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From page 172... ...
172 Aeronautical: Aeronautical use includes services provided by air carriers related directly and substantially to the movement of passengers, baggage, mail, and cargo on the airport and any activity which involves, makes possible, or is required for the operation of aircraft, or which contributes to or is required for the safety of such operations. Airport and Airway Trust Fund (AATF)
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From page 173... ...
Glossary 173 Airport Improvement Program Entitlement Grants: AIP funds that must be apportioned by formula each year to specific airport sponsors, types of airports, or states under statutory provisions. Airport Investment Partnership Program or AIPP (Formerly Airport Privatization Pilot Program or APPP)
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From page 174... ...
174 Evaluating and Implementing Airport Privatization and Public-Private Partnerships Build-Transfer-Operate (BTO) : An approach that is like the BOT model except that the transfer to the airport owner takes place at the time construction is completed, rather than at the end of the lease period.
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From page 175... ...
Glossary 175 CPI-X: A regulatory regime in which aeronautical prices increase by inflation (the consumer price index) less a specified percentage (X)
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176 Evaluating and Implementing Airport Privatization and Public-Private Partnerships and administering the various continuing commitments airport owners make to the United States as a condition for the grant of federal funds or the conveyance of federal property for airport purposes. Order 5190.6B discusses the obligations set forth in the standard airport sponsor assurances, addresses the application of the assurances in the operation of public-use airports, and facilitates interpretation of the assurances by FAA personnel.
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From page 177... ...
Glossary 177 The private manager's objective is to improve the financial and operational efficiency of the facility, for which the manager is paid a fee and is reimbursed for its expenses, subject to a budget that is usually set by the manager and approved by the airport owner. Most airports operate their public parking facilities using a management contract, and some use a management contract for the operation of individual terminals or master terminal concessions, hangars, warehouses, or, in a few cases, for the entire airport.
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From page 178... ...
178 Evaluating and Implementing Airport Privatization and Public-Private Partnerships Section 142 of the Internal Revenue Code of 1986 (as amended) and Treasury Regulations.
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From page 179... ...
Glossary 179 Tax-Exempt Debt: Instruments such as governmental bonds, private activity bonds, and other debt obligations, which are exempt from certain federal taxes and sometimes state taxes. Interest on "Private Activity Bonds" or "AMT Bonds," although generally excluded from taxable income of the holder, is an item of tax preference under the alternative minimum tax provisions of Section 142 of the Internal Revenue Code of 1986 (as amended)
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