Document

Report
Notice and Opportunity for Public Comment
Amendments to PFC Application 02-04-C-00-BWI
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
August 6, 2013
Overview
•
The Maryland Aviation Administration (MAA), the operator of
Baltimore/Washington International Thurgood Marshall Airport (the Airport)
intends to amend and close out projects from the previously approved PFC
application 02-04-C-00-BWI (“PFC 4”).
•
As shown on pages 3 through 7 MAA proposes to
– Amend up the PFC-funded project work costs for three projects by $8,817,000.
The project work cost for each project increased by more than 25%. Thus, public
is offered the opportunity to provide comments on the proposed amendments to
these three projects per 14 CFR 158.24 and 14 CFR 158.37.
– Amend down the PFC-funded project work for two projects by $76,976,000.
– Amend down PFC financing costs for all projects by $93,447,000.
– Overall, MAA proposes to amend down its collection authority by $161,606,000.
•
Charge expiration date for MAA’s most recent PFC application 12-10-C-00BWI accelerates from March 1, 2028 to July 1, 2025.
•
PFC 4 collection level was approved at $4.50 and would not change as a
result of the amendments.
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
1
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
Public Comment Period
• The public may submit its comments on the three projects on or
before Thursday, September 5, 2013.
• Comments should be sent to, and additional information may be
obtained from:
Mr. David Isquith
Senior Financial Analyst
Phone: (410) 859-7432
Fax: (410) 859-7885
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
Maryland Aviation Administration
PO Box 8766
BWI Airport, MD 21240-0766
E-mail: [email protected]
2
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
Project for public comment and amendment: 04-001
15R Parallel Taxiway and Airfield Ramp Construction
•
The approved project provided for construction of approximately 1,500 feet of 75 foot wide taxiway parallel to
Runway 15R. The project also provided for 1 million square feet of new aircraft parking apron including deicing
collection facilities to support Pier A. The PFC funded project share increased to replace lower than anticipated
AIP funding. Since PFC funded project work increased by 32% above the FAA-approved amount, the public is
offered the opportunity to submit its comments on the amendment to this project.
•
The Final Agency Decision was based on financing 100% of the PFC portion of the project with PFC-backed
bonds. The project was actually financed with a mix of PFC Paygo, PFC-backed bonds, AIP and State funds.
Financing costs were also reduced by lower interest rates; the bonds had a floating-rate that was continuously
below 1% since February 2009.
Dollars in $000
PFC Paygo
Final Agency
Decision
-
PFC Bond
PFC
PFC Paygo Financing and
and Bond
Interest
PFC
Total
AIP
19,995
19,995
7,998
27,993
38,113 *
State
(TTF)
-
Project
Cost
Excluding
Financing
58,108
Proposed
Amended
Amount
18,945
7,462
26,408
1,574
27,981
16,758
7,375
50,540
Increase or
(Decrease)
18,945
(12,532)
6,413
(6,424)
(11)
(21,355)
7,375
(7,767)
32%
(80%)
0%
100%
% Increase or
Decrease
-
-
100%
(13%)
•$38 million in AIP funding is based on MAA’s application. The FAA’s Final Agency Decision anticipated non-PFC funding but
specified no amount or source. The $38 million is shown here to give a comparable picture of project costs.
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
3
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
Project for public comment and amendment: 04-002
Common Use Terminal Equipment
•
The approved project provided for installation of 37 ticket counter positions and 6 gate positions in the
international terminal. The project cost increased because revised scope and actual bid prices. Since project
work increased by 46% above the FAA approved amount the public is offered the opportunity to submit its
comments on the amendment to this project.
•
The Final Agency Decision was based on financing 100% of the project with PFC-backed bonds. Over 99% of
the project was financed with PFC-backed bonds. Interest expenses were lower than originally forecasted; the
bonds had a floating-rate that was continuously below 1% since February 2009.
Dollars in $000
PFC Paygo
PFC Bond
PFC
PFC Paygo Financing and
and Bond
Interest
PFC
Total
State
(TTF)
AIP
Project
Cost
Excluding
Financing
Final Agency
Decision
-
2,500
2,500
1,000
3,500
-
Proposed
Amended
Amount
-
3,641
3,641
768
4,408
-
22
3,663
Increase or
(Decrease)
-
1,141
1,141
(232)
909
-
22
1,163
% Increase or
Decrease
-
46%
(23%)
26%
-
100%
47%
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
-
4
-
2,500
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
Project for public comment and amendment: 04-003
Surface Movement Guidance Control System
•
The approved project provided for enhanced marking and lighting aids, eleven sets of elevated runway guard
lights, in-pavement runway guard lights at four runway/taxiway intersections, and in-pavement taxiway centerline
lights for large sections of Taxiways A and F. The project cost increased because of revised scope and actual bid
prices. Since the project work cost increased by 50% above the FAA approved amount the public is offered the
opportunity to submit its comments on the amendment to this project.
•
The Final Agency Decision was based on financing 100% of the project with PFC-backed bonds. The project
was actually financed with 100% PFC Paygo funds.
Dollars in $000
PFC
PFC Paygo Financing and
and Bond
Interest
PFC Pagyo
PFC Bond
-
2,503
2,503
Proposed
Amended
Amount
3,766
-
3,766
Increase or
(Decrease)
3,766
(2,503)
1,263
-
-
50%
Final Agency
Decision
% Increase or
(Decrease)
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
1,001
PFC
Total
Cost
State
(TTF)
AIP
Project
Cost
Without
Financing
3,504
-
-
2,503
3,766
-
-
3,766
(1,001)
262
-
-
1,263
(100%)
7%
-
-
50%
-
5
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
Projects for amendment: 04-004 and 04-005
Terminal Pedestrian Access Expansion and Improvement
•
The approved project provided for access to the Airport’s new Pier A facility and improved pedestrian access to
the Airport’s other piers. The PFC-funded project share decreased 34% below the FAA approved amount
because a large portion of the work was funded with parking revenue bonds, as shown on page 8.
•
The Final Agency Decision was based on financing 100% of the project with PFC-backed bonds. The project was
financed with PFC Paygo, PFC-backed bonds, and parking revenue bonds. Interest expenses on the PFC-backed
bonds were lower than originally estimated; the bonds had a floating-rate that was continuously below 1% since
February 2009.
Dollars in $000
PFC Paygo
Final Agency
Decision
-
PFC Bond
PFC
PFC Paygo Financing and
and Bond
Interest
PFC
Total
State
(TTF)
AIP
Project
Cost
Without
Financing
131,352
131,352
52,541
183,892
-
-
131,352
Proposed
Amended
Amount
62,797
24,225
75,271
5,109
92,131
-
-
87,022
Increase or
(Decrease)
62,797
(107,126)
(44,330)
(47,432)
(91,762)
-
-
(44,330)
(34%)
(90%)
(50%)
-
-
(34%)
% Increase or
Decrease
-
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
-
6
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
Projects for amendment: 04-006 and 04-007
Terminal Roadway Expansion and Improvement
•
The approved project: (1) extended the upper roadway by 700 feet and expanded the lower roadway to
accommodate Pier A, (2) widened the upper and lower roadways at the other Piers by 1,300 feet, and (3)
modified the terminal access return road. The PFC-funded project share decreased 30% below the FAA
approved amount because a large portion of work was funded with parking revenue bonds as shown on page 8.
•
The Final Agency Decision was based on financing 100% of the project with PFC-backed bonds. The project was
financed with PFC Paygo, PFC-backed bonds, AIP, and State funds. Interest expenses on the PFC-backed
bonds were lower than originally estimated; the bonds had a floating-rate that was continuously below 1% since
February 2009.
Dollars in $000
PFC Paygo
Final Agency
Decision
-
PFC Bond
PFC
PFC Paygo Financing and
and Bond
Interest
PFC
Total
108,948
108,948
43,579
152,528
State
(TTF)
AIP
-
Project
Cost
Without
Financing
-
108,948
Proposed
Amended
Amount
51,544
24,759
76,303
5,221
81,524
5,859
566
82,728
Increase or
(Decrease)
51,544
(84,189)
(32,646)
(38,358)
(71,004)
5,859
566
(26,221)
(30%)
(88%)
(47%)
-
(24%)
% Increase or
Decrease
-
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
-
7
-
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport
Terminal Improvement Program
Funding of Project Elements – PFC and Parking Revenue Bonds
PFC Final Agency Decision
Parking Prospectus
- Extend upper level 700 ft at Pier A
X
X
- Widen roadway Piers B to E
X
- Modify access return road
X
X
- Replace terminal curtain wall
X
X
- Modify ticket lobby
X
X
- Pier A pedestrian bridge
X
X
- Pier B pedestrian bridge
X
X
- Pier D pedestrian bridge
X
X
- Modify Pier C access tunnel
X
X
Terminal Roadway Improvements
Pedestrian Access Improvements
Elm Road Garage
X
Central Utility Plant
X
Amendment to PFC 02-04-C-00-BWI
Notice and Opportunity for Public Comment
August 6, 2013
8
Maryland Aviation Administration
Baltimore/Washington International Thurgood Marshall Airport

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