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Airport Master Plan 2012 - City of Waterville

Airport Master Plan 2012 - City of Waterville

1.8 Economic Conditions

1.8 Economic Conditions This section identifies the economic conditions and related information of the Waterville Robert LaFleur Municipal Airport (WVL) at the time of this master plan effort. These conditions come in many sets of data that give you a snapshot of the Airport operation, capital expenditure history, financial arrangements of existing operations, and the general economic conditions surrounding the Airport and the Region. This effort discusses this information in five main areas that include: 1. Airport Financial Data; 2. Capital Improvement Funding History; 3. Airport Leases, Rates and Charges; 4. Economic Impact of the Airport; and; 5. Central Maine Economy General aviation airports typically do not turn a profit and often are a financial burden to the local sponsor. While this is often the case, the goal of a general aviation airport should be to breakeven or better with fair and equitable rates and charges to the Airport users. Recent Airport financial data for WVL is presented in the table below. Table 1.10 WVL Year End 06-07 Financial Summary Category Budget Actual Revenue $270,755 $229,602 FBO Operations Expenses (270,755) (194,598) Net FBO Operations $0 $35,004 Revenue $7,100 $11,183 Airport Operations and Expenses (108,610) (100,072) Maintenance* Net Airport Maintenance ($101,510) ($88,889) Revenue $0 $0 Capital Improvements Expenses (43,750) (43,750) Net Capital Improvements ($43,750) ($43,750) * Received a transfer in from the General Fund of $145,260. Source: City of Waterville Total Airport ($145,260) ($132,639) With the loss of the Fixed Base Operator a few years ago, WVL has seen turbulent financial times. As you can see from the financial information presented in the table above, the Airport FBO Operations turned a profit for the recently completed fiscal year 2006-07, while the other areas are typically expense burdens. As the table indicates, the FBO operations provide the highest level of revenue for the Airport. To further analyze these revenues, Table 1.11 categorizes major WVL revenue sources. The City of Waterville Maine Baseline Conditions – Page 1-26 Airport Solutions Group, LLC & The Louis Berger Group, Inc. December 2011

Table 1.11 WVL Revenues 2006-07 Category Budget Actual Aviation Fuel FBO $228,000 $220,553 Hangar Rental FBO 9,000 7,230 Hangar Land Leases 2,000 2,790 Rental Income-Bus Terminal 5,100 6,123 Source: City of Waterville As the table indicates, through FBO operations, aviation fuel sales are currently the single highest revenue generator for the Airport. Capital Improvement Funding History Airports require intensive capital improvements to maintain the extensive airside and landside facilities required for a safe and efficient airport. In recognition of these high capital costs, the Federal Aviation Administration (FAA) provides grants through the Airport Improvement Program (AIP). Under the latest federal Authorization, these grants can provide funding for up to ninety-five (95%) of eligible projects with the remaining non-federal share being split by the State of Maine and the City of Waterville. According to a recently completed study 15 , Maine DOT invests approximately $500,000 to 750,000 annually in public use airports across the State. A similar investment by the local airport sponsors leverages an average of $19 million annually from the FAA AIP program. 15 Economic Impacts of Airports in Maine. November 2006. Maine Department of Transportation, Office of Passenger Transportation. The City of Waterville Maine Baseline Conditions – Page 1-27 Airport Solutions Group, LLC & The Louis Berger Group, Inc. December 2011

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