Evaluating and Implementing Airport Privatization and Public-Private Partnerships (2021) / Chapter Skim
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Pages 33-41
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From page 33... ...
33 Project Planning Introduction P3s have several characteristics that are distinct from other project delivery methods used by airport owners. Central among these are navigating an often-unfamiliar procurement process, considering lifecycle benefits and costs in addition to constructing the project, engaging with different actors than in a typical procurement (e.g., equity funds)
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34 Evaluating and Implementing Airport Privatization and Public-Private Partnerships Determining Project Goals and Project Delivery Goals One of the major reasons for P3 failure is a lack of clarity regarding the airport's goals. This is where the airport does the important thinking about its appetite for risk, project "must-haves" versus "nice-to-haves," the amount of project control it is willing to cede to a private partner, and how success is measured.
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From page 35... ...
Project Planning 35 Airport P3 Summit, Austin-Bergstrom International Airport Executive Director, Jim Smith, explained that The South Terminal was initially driven by competitive position with the ultra-low-cost business model. There was a time, 4 years ago, when low-cost carriers didn't have a presence in central Texas, and we wanted to capture those carriers.
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36 Evaluating and Implementing Airport Privatization and Public-Private Partnerships Within these three broad categories, there may be target resources needed for the project in question. An important consideration is whether key staff have the time to dedicate to the P3 process while also carrying out their regular responsibilities.
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From page 37... ...
Project Planning 37 is permitted to undertake and the options for making payments to the developer, such as revenue sharing or availability payments. Further, airport owners must understand the interaction between federal and local law to develop a procurement process that is consistent with the terms and conditions of federal regulations and federal grants.
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From page 38... ...
38 Evaluating and Implementing Airport Privatization and Public-Private Partnerships – Two-step procurement [request for qualifications (RFQ) and request for proposals (RFP)
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Project Planning 39 An airport owner should identify ideal times to engage external advisors to make sure the owner is gaining the right advice at the right time. It would not be useful, for example, if a financial advisor were selected after an airport had already determined the project's financial feasibility and began to engage the business community.
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40 Evaluating and Implementing Airport Privatization and Public-Private Partnerships Furthermore, several high-profile St. Louis figures, including former Mayor Slay, became lobbyists for entities with interest in the transaction.
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From page 41... ...
Project Planning 41 Figure 6. High-level project development phases, key tasks, and iterative nature of planning phase.
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