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PPP Duty Visit to Canada Vancouver International Airport (YVR) Overview Brief Description of YVR Future PPP Development Why PPP in YVR? YVR Airport Authority.

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Presentation on theme: "PPP Duty Visit to Canada Vancouver International Airport (YVR) Overview Brief Description of YVR Future PPP Development Why PPP in YVR? YVR Airport Authority."— Presentation transcript:

1 PPP Duty Visit to Canada Vancouver International Airport (YVR) Overview Brief Description of YVR Future PPP Development Why PPP in YVR? YVR Airport Authority PPP Arrangements in YVR PPP Achievements in YVR

2 Vancouver International Airport Brief Description of YVR 2 nd busiest airport in Canada Served 16.4 million passengers and handled 223,700 tonnes of cargo in 2005

3 Passenger traffic increased by more than 65% and cargo increased by about 55% since 1992 Growth of passenger traffic and cargo expected to continue in 2006 Vancouver International Airport Brief Description of YVR

4 Why PPP in YVR? To enhance economic development (deficits in the 1980s and early 1990s) To improve accountability relative to federal operation of YVR Vancouver International Airport

5 Why PPP in YVR? To attain commercial viability Vancouver International Airport

6 YVR Airport Authority Managed and operated by the Airport Authority (AA) since 1992 Operated under the provision of a 60-year ground lease with the federal government Vancouver International Airport

7 A community-based, not-for- profit organization No shareholders YVR Airport Authority Vancouver International Airport

8 Members of the Board of Directors of the YVR AA Government Entities Federal Government of Canada City of Vancouver City of Richmond Greater Vancouver Regional District YVR Airport Authority Vancouver International Airport

9 Members of the Board of Directors of the YVR AA Community Organizations Assoc. of Prof. Engineers and Geoscientists of B.C. Institute of Chartered Accountants of B.C. Law Society of B.C. Vancouver Board of Trade YVR Airport Authority Vancouver International Airport

10 No federal funding, subsidies or grants for operation or construction of infrastructure of YVR required Net earnings are re-invested in airport development & services improvement Annual rent is paid by YVR AA to the federal government Annual rent is composed of base rent plus a percentage of gross revenue earned by AA PPP Arrangements in YVR Vancouver International Airport

11 Sources of revenues in 2005 (in Can$): Airport improvement fees89 m Terminal fees77 m Concessions60 m Landing fees50 m Car parking26 m Others49 m PPP Arrangements in YVR Vancouver International Airport

12 Financial situation of YVR AA in 2005: Total revenues: Can$352 m Annual rent paid: Can$79 m Can$77 m Net earning: Can$77 m PPP Achievements in YVR Vancouver International Airport

13 PPP Achievements in YVR Generated 26,700 direct jobs in 2005 Vancouver International Airport

14 Further PPP Development Allow flexibility to join new initiatives that are important to local region Example: Vancouver Rapid Transit Vancouver International Airport

15 Vancouver Rapid Transit Rapid transit rail link between Richmond and YVR Project supported by YVR AA and 7 other agencies Further PPP Development Vancouver International Airport

16 Vancouver Rapid Transit YVR AA is a funding partner of the project together with 7 other agencies Opens by 2009/2010 Further PPP Development Vancouver International Airport

17 Canada Place PPP Duty Visit to Canada Overview Brief Description of Canada Place Achievements Canada Place Corporation (CPC) The Project Future Plans Facilities

18 Brief Description of Canada Place Canada Place Located on a pier in the heart of Vancouver Citys harbour front Originally created in 1986 as the Canadian Parvilion at Expo 86

19 Government of Canadas landmark investment in British Columbia Focal point for tourists and international trade sectors Attracting several million guests annually Canada Place Brief Description of Canada Place

20 Canada Place Corporation (CPC) Created in 1982 to develop the Canada Place Project A Federal Crown agent The coordinating landlord for Canada Place facilities Canada Place

21 Canada Place Corporation (CPC) To ensure the facility is: financially self- sufficient a centre of economic activity a national symbol Canada Place

22 Provides common utilities Manages property agreements Coordinates matters of common concern Responsible for common area security and maintenance Canada Place Corporation (CPC)

23 The Project One of the largest integrated use waterfront redevelopment projects With capital investment of Can$400 million Can$160 million from private firms for the hotel, office and commercial facilities Canada Place

24 The Project The overall design of the complex was coordinated among the different parties The public and private sectors each responsible for their different parts of the overall project Canada Place

25 Facilities Designed, built and operated by Private Sector: World Trade Centre Pan Pacific Hotel Canada Place

26 Facilities Owned by CPC: Vancouver Convention & Exhibition Centre IMAX Theatre Citipark Cruise Ship Terminal Canada Place

27 Facilities World Trade Centre Deluxe office building Pan Pacific Hotel 504 room luxury hotel with restaurant, retail and health club amenities Canada Place Both were constructed on property leased from CPC on long-term pre-paid lease arrangements

28 Facilities Canada Place Vancouver Convention & Exhibition Centre Western Canadas largest convention facility Opened in 1987 Attracts more than 1.5 million visitors each year Operated by BC PavCo, Province of BC

29 Facilities Citipark 770-car 2-level covered garage Operated by Citipark Inc. Canada Place IMAX Theatre 440-seat theatre 212,000 viewers in 2004 Operated by IMAX Corp

30 Cruise Ship Terminal: 3-berth terminal Conveniently located – only 30-minute drive to YVR Facilities Canada Place

31 Cruise Ship Terminal: A homeport for Vancouver-Alaska cruise 272 sailings with 910,172 passengers in 2005 Facilities Canada Place

32 Cruise Ship Terminal: Handles 10,000 disembarking and embarking passengers at one time Over 7,000 passengers travel under the US Direct program Facilities Canada Place

33 Cruise Ship Terminal: 10-year contract to Cerescorp Company for dock and terminal operation Ensuring smooth passenger flow between the Cruise Ship Terminal and YVR Facilities Canada Place

34 Achievements Private sector contributed 40% of total capital investment Project completed on schedule and within budget Canada Place Businesses there generated over Can$1 billion for local economy each year

35 Future Plans Over the next 5 years An interactive museum Vibrant music and art festivals Canada Place

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