Master Plan Update (pdf) - Lansing/Capital City Airport

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Capital Region Airport Authority Capital City Airport Master Plan Update the FAA is required to approve collection and use of PFCs, the program allows for local collection of PFC revenue through the airlines operating at an airport and provides more flexibility to airport sponsors than AIP funds. The Authority has submitted and the FAA has approved two different PFC applications for use at the Airport. The Authority has increased the PFC level to $4.50 in both of the applications and is authorized to use a total of $39,127,841 in PFC revenue. The most recent PFC application approved by the FAA permits the Authority to use PFC revenues on existing projects through 2022. As a result, future PFC revenues were determined to be unavailable to reduce the capital cost of the projects included in the Master Plan CIP. 7.3.4.5 Local Funding Remaining project costs must be financed through local sources. The local share of project costs is assumed to come primarily from two sources: the Authority’s annual cash flow and unrestricted cash reserves and revenue/general obligation bonds for projects included in the last three years of the long-term development program. The following financing assumptions have been utilized in this analysis to estimate the total bonding requirement and the resulting annual debt service: • The bond proceeds will pay for the net cost of the CIP for the capital projects in 2011 through 2013, including capitalized interest and cost of issuance. The largest project during this time period is the construction of the Replacement Terminal (Phases 1 through 3). • The bonds will bear an average interest rate of 6.5 percent. • Interest will be capitalized for three years and included in the bond proceeds. • Financing costs are assumed to be 2.0 percent of the net bonding requirement. • Bond proceeds deposited into the construction fund will earn interest at the rate of 4.5 percent per year, until the funds are expended. • The bonds will have a 30 year term, with a 27 year principal amortization period (30 year term less construction period of three years). Based on the funding scenario presented for the projects in these years, the Authority will need to issue approximately $49.0 million in bonds to fund the local requirement for the last three years of development in the long-range CIP. As shown in Table 7-4, the annual debt service on these bonds would amount to $3.9 million based on the financing assumptions discussed above. Implementation Plan 7-12 Final
Table 7-4 ESTIMATED AVERAGE ANNUAL DEBT SERVICE Description Total LOCAL BOND FUNDING REQUIREMENT $39,607,300 PLUS: Capitalized Interest 1 Financing Costs 2 Capital Region Airport Authority Capital City Airport Master Plan Update $9,564,612 980,986 TOTAL ADDITIONS $10,545,598 LESS: Investment Earnings 3 $1,103,609 NET BONDING REQUIREMENT $49,049,289 ANNUAL DEBT SERVICE 4 1 Capitalized interest estimated at 6.5% for three years. 2 2% of Net Bonding Requirement 3 4.5% of half of Net Bonding Requirement 4 6.5% for 30 years. 7.3.5 Development Plan Financing Summary $3,756,000 Based on the funding sources and assumptions identified earlier in this section, the overall financing plan for FY 2006 through FY 2023 is presented in Table 7-5 and summarized as follows: • Total inflated project costs are $308.6 million. • AIP entitlement and discretionary funds in the amount of $243.3 million are estimated to be available from the FAA. • Approximately $15.1 million in MDOT funds are anticipated over the planning period. • Third party development will account for $3.4 million in capital projects at the Airport, representing 1.1 percent of the total development. • Once these sources are accounted for, approximately $46.8 million in additional local funds will need to be funded from the Airport's earnings and reserves, or the issuance of debt. These additional local funds will allow the recommended capital projects to be fully implemented. Implementation Plan 7-13 Final
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Capital Region Airport Authority Ca
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List of Appendices Appendix A Gloss
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The forecast of aviation activity c
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• Provide designated areas for ca
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Environmental Considerations The en
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1.1 Introduction CHAPTER 1 INVENTOR
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1.1 Introduction CHAPTER 1 INVENTOR
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1.2.2.1 Location Exhibit 1-1 EXISTI
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Exhibit 1-3 REGIONAL MAP Capital Re
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1.2.3.3 Aviation Activity Overview
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1.3.1 Runways Exhibit 1-6 AIRSIDE F
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1.3.3 Visual Aids Exhibit 1-7 AIRPO
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Exhibit 1-9 FIRST FLOOR FUNCTIONAL
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Table 1-7 AIRLINE SPACE DISTRIBUTIO
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Table 1-9 CONCESSION SPACE DISTRIBU
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Table 1-12 GOVERNMENT SPACE DISTRIB
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1.4.3.1 Public Curb Exhibit 1-13 PA
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Table 1-14 GENERAL AVIATION BUILDIN
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1.6.2 Aircraft Rescue and Fire Figh
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• Off-airport access roads • On
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1.7.3.1 Public Parking Exhibit 1-18
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1.8.2 Land Use / Zoning Capital Reg
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1.10 Business Aspects Capital Regio
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Concessions 9.6% Land Rentals 10.0%
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CHAPTER 2 FORECAST OF AVIATION DEMA
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2.1.2 Airlines Serving the Airport
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Number of Enplanements 400,000 350,
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Annual Operations 180,000 160,000 1
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Millions of Pounds 70 60 50 40 30 2
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40.0% 30.0% 20.0% 10.0% 0.0% -10.0%
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2000 - 2023 1970 - 2000 2000 - 2023
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900 800 700 600 500 400 300 200 100
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2.3.3 Market Share Analysis Capital
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900,000 800,000 700,000 600,000 500
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600,000 500,000 400,000 300,000 200
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2.4.2 Annual General Aviation Opera
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2.4.4 Itinerant and Local Operation
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2.5 Forecast of Enplaned Cargo Capi
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2.6 Based Aircraft Capital Region A
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2.7 Annual Instrument Approaches Ca
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Percent of Total 12.5% 11.5% 10.5%
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Percent of Total Capital Region Air
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2.9 Comparison with Other Forecast
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Table 2-30 OPERATIONS COMPARISON Ca
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2.10 Summary of Forecasts Capital R
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Exhibit 3-2 DEMAND CAPACITY CALCULA
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L G Exhibit 3-3 TAXIWAY SYSTEM C M
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3.4.3.4 Taxiway Lighting Capital Re
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3.6 Terminal Area Requirements Capi
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3.6.1.3 Terminal Expansion Options
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Table 3-23 SHORT AND LONG TERM PUBL
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Table 3-25 RENTAL CAR REQUIREMENTS
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3.7.2 Aircraft Apron Table 3-26 HAN
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3.10.2.1 Curbfront Traffic Demand E
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Exhibit 3-6 TERMINAL CURBFRONT LANE
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3.11 Land Requirements Capital Regi
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3.17 Summary Capital Region Airport
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Parallel Taxiway Terminal Redevelop
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4.3 Leading Elements Based on the f
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Exhibit 4-3 LEADING ELEMENTS ALTERN
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Table 4-4 PASSENGER ORIGIN LOCATION
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A. Existing Terminal Access Capital
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4.3.5.5 Implementation Capital Regi
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Table 4-5 LEADING ELEMENT ALTERNATI
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Table 4-7 LEADING ELEMENT ALTERNATI
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4.4.2 Aviation Support Facilities E
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Parallel Taxiway Terminal Redevelop
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• FAA Advisory Circular 150/5070-
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Object Table 6-1 OBJECTS AND FEATUR
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• Glide Slope Design Standard Com
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Master Plan Update (pdf) - Lansing/Capital City Airport

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