budget for aviation and dulles corridor enterprise funds

2012 BUDGETMetropolitan Washington Airports Authorityterminals, three parking garages and an airport traffic control tower. Major capital projectscompleted under the CCP at Dulles International include expansion and rehabilitation of theMain Terminal and construction of Concourses A and B, an international arrivals building andrunway, AeroTrain system and road improvements, among others.In 2000, the Airports Authority approved an expansion of the CCP for Dulles International,referred to as the d 2 program. The d 2 program, and certain other CCP projects at ReaganNational and Dulles International, were expected to be completed between 2001 and 2006.In the aftermath of the events of September 11, 2001, and due to the deteriorating financialcondition of many airlines, the Airports Authority re-examined the CCP. As a result, in thespring of 2002, the Airports Authority revised the expected completion date of the CCP to2012, delayed the start dates of several projects, deferred some projects until theirreactivation is warranted and added several new projects to the CCP, in effect creating twocategories of the CCP: (i) the active portion of the CCP, which includes projects that are inprogress or have been completed since 2001, and (ii) the deferred portion of the CCP, whichincludes projects that have been authorized by the Airports Authority but deferred until theAirports Authority determines that demand and circumstances warrant their reactivation. Theactive portion of the CCP was at that time expected to be completed between 2001 and 2012and was referred to as the “2001-2012 CCP.”Since the spring 2002, the Airports Authority has continued to make additional adjustments tothe CCP as part of its periodic CCP review process. To accommodate then-recent andexpected growth in operations and passenger enplanements as well as to maintain andimprove certain of its existing facilities, in the fall of 2006, the Airports Authority revised thescheduled completion date for the CCP from 2012 to 2016 and added $2.1 billion ($2.4 billionin inflated dollars) of projects to the CCP. The active portion of the CCP that is scheduled forcompletion by the end of 2016 is referred to as the “2001-2016 CCP.” At that time, theestimated total cost of the 2001-2016 CCP was $7.1 billion.Due to a number of factors, including the current economic conditions and the unprecedentedincreases in the cost of aviation fuel and their impact on the financial condition of airlines, inSeptember 2008, the Airports Authority revised the scope, timing and size of certain 2001-2016 CCP projects, including deferring the construction of the Tier 2 Concourse and relatedfacilities, the construction of the consolidated rental car facility and the expansion of the southutility service complex, resulting in a $2.2 billion reduction in the cost of the 2001-2016 CCP.The Airports Authority currently estimates the cost of the 2001-2016 CCP to be approximately$5.1 billion (in inflated dollars). The Airports Authority expended approximately $4.0 billion ofthe $5.1 billion total estimated cost of the 2001-2016 CCP between 2001 and June 30, 2011.Major projects completed at Reagan National since 2001 include the pedestrian tunnel fromthe parking garage to Terminal A, security enhancements and various improvementsincluding historical Terminal A facade renovations, electrical and life safety improvementsand commercial curb upgrades. Major projects completed at Dulles International include theDaily Parking Garages 1 and 2, the Main Terminal rehabilitation, the Concourse B expansion,the south and east baggage basements, the airside and landside pedestrian tunnels, the airtraffic control tower, construction of the Z-gates, the construction of the remote employee146