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August 6, 2013 Amendments to PFC Application 02-04-C-00-BWI Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport.

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Presentation on theme: "August 6, 2013 Amendments to PFC Application 02-04-C-00-BWI Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport."— Presentation transcript:

1 August 6, 2013 Amendments to PFC Application C-00-BWI Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport Notice and Opportunity for Public Comment

2 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport 1 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 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 and 14 CFR –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 MAAs most recent PFC application C-00- BWI accelerates from March 1, 2028 to July 1, PFC 4 collection level was approved at $4.50 and would not change as a result of the amendments.

3 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport 2 Public Comment Period The public may submit its comments on the three projects on or before Thursday, September 5, Comments should be sent to, and additional information may be obtained from: Mr. David Isquith Maryland Aviation Administration Senior Financial Analyst PO Box 8766 Phone: (410) BWI Airport, MD Fax: (410)

4 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport Project for public comment and amendment: R 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 PFC PaygoPFC Bond PFC Paygo and Bond PFC Financing and Interest PFC TotalAIP State (TTF) Project Cost Excluding Financing Final Agency Decision -19,995 7,99827,99338,113 * -58,108 Proposed Amended Amount18,9457,462 26,4081,57427,98116,758 7,37550,540 Increase or (Decrease) 18,945(12,532) 6,413(6,424)(11)(21,355) 7,375(7,767) % Increase or Decrease - -32%(80%)0%100% (13%) Dollars in $000 $38 million in AIP funding is based on MAAs application. The FAAs 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.

5 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport Project for public comment and amendment: 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 PFC PaygoPFC Bond PFC Paygo and Bond PFC Financing and Interest PFC TotalAIP State (TTF) Project Cost Excluding Financing Final Agency Decision -2,500 1,0003, ,500 Proposed Amended Amount - 3, , ,663 Increase or (Decrease) -1,141 (232) ,163 % Increase or Decrease - -46%(23%)26% -100%47% Dollars in $000

6 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport Project for public comment and amendment: 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. 5 PFC PagyoPFC Bond PFC Paygo and Bond PFC Financing and Interest PFC Total CostAIP State (TTF) Project Cost Without Financing Final Agency Decision-2,503 1,0013, ,503 Proposed Amended Amount3, Increase or (Decrease)3,766(2,503) 1,263(1,001) ,263 % Increase or (Decrease)--50%(100%)7% - -50% Dollars in $000

7 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport Projects for amendment: and Terminal Pedestrian Access Expansion and Improvement The approved project provided for access to the Airports new Pier A facility and improved pedestrian access to the Airports 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 PFC PaygoPFC Bond PFC Paygo and Bond PFC Financing and Interest PFC TotalAIP State (TTF) Project Cost Without Financing Final Agency Decision -131,352 52,541183, ,352 Proposed Amended Amount62,79724,225 75,271 5,10992, ,022 Increase or (Decrease)62,797(107,126) (44,330)(47,432)(91,762) - -(44,330) % Increase or Decrease - -(34%)(90%)(50%) - -(34%) Dollars in $000

8 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport Projects for amendment: and 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 Dollars in $000 PFC PaygoPFC Bond PFC Paygo and Bond PFC Financing and Interest PFC TotalAIP State (TTF) Project Cost Without Financing Final Agency Decision -108,948 43,579152, ,948 Proposed Amended Amount 51,54424,759 76,3035,22181,524 5, ,728 Increase or (Decrease) 51,544(84,189) (32,646)(38,358)(71,004) 5, (26,221) % Increase or Decrease - -(30%)(88%)(47%) - -(24%)

9 Amendment to PFC C-00-BWI Notice and Opportunity for Public Comment August 6, 2013 Maryland Aviation Administration Baltimore/Washington International Thurgood Marshall Airport 8 PFC Final Agency DecisionParking Prospectus Terminal Roadway Improvements - Extend upper level 700 ft at Pier AXX - Widen roadway Piers B to EX - Modify access return roadXX Pedestrian Access Improvements - Replace terminal curtain wallXX - Modify ticket lobbyXX - Pier A pedestrian bridgeXX - Pier B pedestrian bridgeXX - Pier D pedestrian bridgeXX - Modify Pier C access tunnelXX Elm Road GarageX Central Utility Plant X Terminal Improvement Program Funding of Project Elements – PFC and Parking Revenue Bonds


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