TY  - BOOK
AU  - Crider, Rick & others
TI  - Guidebook for developing and leasing airport property
SN  - 0309155568
U1  - 387.736 
PY  - 2011///
CY  - Washington D.C.
PB  - Transportation Research Board
N1  - CONTENTS Summary  1 1 Introduction 5 1.1 Purpose of This Guidebook 1.2 How to Use This Guidebook 1.3 Research Approach 2 Anatomy of a Lease 10 2.1 Airport Lease Types 2.1.1 Aeronautical Versus Nonaeronautical 2.1.2 Land Lease 2.1.3 FBO Lease 2.1.4 SASO Lease 2.1.5 Hangar Rental Agreement 2.1.6 Sublease (Subletting) 2.1.7 Airline Leases 2.2 Essential Lease Elements 2.2.1 Lessor 2.2.2 Lessee 2.2.3 Premises 2.2.4 Use of Premises 2.2.5 Lease Term 2.2.6 Rent 2.2.7 Escalation Clause 2.2.8 Operation and Maintenance 2.2.9 Construction of Improvements 2.2.10 Reversion/Reversionary Clause 2.2.11 Rights, Reservations, and Obligations of Lessor 2.2.12 Rights, Reservations, and Obligations of Lessee 2.2.13 Security Requirements 2.2.14 Damage to Facilities 2.2.15 Insurance Obligations 2.2.16 Environmental 2.2.17 Taxes and Fees 2.2.18 Liens 2.2.19 Defaults 2.2.20 Assignments and Subletting 2.2.21 Regulatory Compliance 2.2.22 Hold Harmless Provision 2.2.23 Nondiscrimination 2.2.24 Living Clauses 2.2.25 Force Majeure 2.2.26 Holdover 2.3 Optional Lease Elements 2.3.1 Noncompete Clause 2.3.2 Right of First Refusal 2.3.3 Percent of Revenue 2.3.4 Term Extension Options 3 Airport Owner/Sponsor Role  30 3.1 Airport Vision 3.1.1 Airport Master Plan 3.1.2 Infrastructure Inventory Analysis 3.1.3 Land Use Plan 3.1.4 Airport Business Plan 3.1.5 Target Industry Analysis 3.2 Grant Assurances and Federal Compliance 3.2.1 Airport Operation Protection 3.2.2 Community Considerations 3.2.3 Land Management Compliance 3.2.4 Land Releases 3.2.5 Business Practice Assurances 3.2.6 Exclusive Rights 3.2.7 Environmental Compliance 3.2.8 Through-the-Fence Agreements 3.3 Minimum Standards and Rules and Regulations 3.4 Leasing Policy 3.5 Stakeholder Coordination 3.5.1 Airport Users and Tenants 3.5.2 Economic Development Agencies 3.5.3 Local Government 3.5.4 Community Organizations 3.5.5 Colleges and Universities 3.5.6 State Government 3.5.7 Federal Government 3.6 Sociopolitical Considerations 3.6.1 The Airport Role in the Community 3.6.2 Community Relations 3.6.3 The Economic Development Role 3.6.4 Incentives and Assurances 4 Project Development Considerations  49 4.1 Existing Agreements 4.2 Marketing 4.3 Funding 4.4 Land and Facility Development 4.5 Valuation 4.5.1 Appraisal 4.5.2 Comparable Sales Approach 4.5.3 Cost Approach 4.5.4 Income Approach 4.6 Airport Revenue Maximization 4.7 External Stakeholder Resources 5 Finance Overview  55 5.1 Airport Sponsor Perspective 5.1.1 Funding 5.1.2 Quantifying Benefits-Pro Forma Analysis 5.1.3 Capital Recovery Rates 5.2 Developer Perspective 5.2.1 Return on Investment 5.2.2 Financial Effects of Lease Components 5.3 Bank/Financier Perspective 5.3.1 Debt/Equity Coverage 5.4 Debt Vehicles 5.4.1 Tax-Exempt Debt 5.4.2 Private Financing 5.5 Incentives, Abatements, and Deferrals 5.6 Funding Sources 5.6.1 Airport Improvement Program 5.6.2 PFC Program 5.6.3 Alternative Grant Sources 5.6.4 Private Capital 6 Summary of Best Practices  68 6.1 Project Development 6.1.1 Airport Planning 6.1.2 Stakeholder Engagement 6.1.3 Financial and Economic Considerations 6.1.4 Economic Impact Considerations 6.1.5 Regulatory Compliance in Development 6.2 Lease Execution 6.2.1 Airport Leasing Policy 6.2.2 Minimum Standards 6.2.3 Lease Rate Determination 6.2.4 Lease Term Determination 6.2.5 Reversion 6.2.6 Regulatory Compliance in Leasing 6.3 Airport Sponsor Checklist 6.3.1 Project Analysis Checklist 6.3.2 Lease Agreement Checklist Appendix A Case Studies Questionnaire To Airport Sponsors Case Study Summaries Collin County Regional Airport (TKI) Monroe County Airport (BMG) Coastal Carolina Regional Airport (EWN) New Bedford Regional Airport (EWB) Albany International Airport (ALB) Baton Rouge Metropolitan Airport (BTR) Pittsburgh International Airport (PIT) Ted Stevens Anchorage International Airport (ANC) George Bush Intercontinental Airport/Houston (IAH) Tampa International Airport (TPA) Project Attributes Matrix Project Stakeholder Matrix Appendix B Acronyms Appendix C Glossary Appendix D References and Bibliography Appendix E Nominated Airport Projects
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