HomeMy WebLinkAboutbocc.res.014.1999A RESOLUTION OF THE BOARD OF
COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO,
SETTING INITIAL AIRPORT FEES AND CHARGES FOR 1999
Resolution # 99- /y
RECITALS
1. Pitkin County ("County") owns, operates and sponsors the Aspen/Pitkin County
Airport ("Airport").
2. The County has authority to set, charge, collect and enforce rents, fees and
charges for the occupancy and use of the Airport, pursuant to, inter alia, Sections 41-4-101
et seq., 30-11-107, 30-15-401 and 30-35-201 and 202, 1973 C.R.S., as amended, the Pitkin
County Home Rule Charter, as amended, and the Pitkin County Code, Title IV, Airport
Regulations, as amended.
3. The Airport financial and rate -setting policies are set out in Resolution #87-
56A. The county's annual Airport rate -setting process is set out in Exhibit "4" to the Lease
and Use Permits for airlines.
4. The long-term, historical contractual relationship between the County and United
Express ("UEX") is set out in the Letter of Intent dated October 9, 1989, with UEX that, along
with the provisions of a holdover Use and Lease Agreement, dated September 14, 1981, not
inconsistent with the Letter of Intent, do and have constituted the legally -enforceable
relationship between the County and UEX since 1989. The Letter of Intent sets out certain
further provisions of the Airport/Airline rate setting process.
5. The current County/UEX relationship provides for UEX to pay rent, fees and
charges on a "residual basis." Historically, the County entered into residual -type
relationships with airlines, such as UEX and Continental Express, that provided year -around
service to the Airport with multiple daily flights and that had a substantially satisfactory
landlord/tenant relationship with the County for a number of years.
6. Since the departure of Continental Express from the Airport late in 1994, the
Airport has received requests from other FAA -certificated airlines to provide scheduled
commercial airline service to the Airport. In response to, inter Dia the differing periods of
service proposed, the County created the Airline -related Policies, Procedures and Standards
which are attached hereto as Exhibit "A."
7. The Airline -related Policies, Procedures and Standards create the following
classifications of airlines and establish different rate -setting procedures for these
classifications: "Signatory Airline," "Pre -Signatory Airline," "Multi -seasonal Airline" and
"Seasonal Airline."
8. The County anticipates executing Lease and Use Agreements with United
Express and Mesa Air as Signatory Airlines for 1999.
9. The County anticipates executing no Lease and Use Agreements with Pre -
Signatory or Seasonal Airlines for 1999.
10. The County anticipates executing a Lease and Use Agreement with Northwest
Airlines as a Multi -seasonal Airline for 1999.
11. The proposed Signatory Airline lease provides that in December of each year,
the County will adopt its budget after affording the opportunity for airline input, and will set
airline rates and charges effective January 1 of the following year, subject to an adjustment
in July so that the Airport breaks even on an "airport residual basis."
12. An "airport residual basis," as described in the proposed Signatory Airline lease,
provides that rents, fees, and charges for Signatory Airlines are to "be calculated on a
residual basis...annually to produce or to recover the greater of: the annual coverage of
2.65 times debt service costs; or the sum of the following net costs of the airport:"
a. net operating expenses...
b. net non -operating revenue/expense...
c. debt service costs...
d. capital outlays approved...".
13. Signatory Airline rents were originally established contractually in 1987 and
increased annually by the increase of the US Consumer Price Index. For 1997 this would
have resulted in an increase to approximately $35 per square foot. However, with three
airlines under contract to rent space for that year, Signatory and Pre -Signatory airlines rents
were reduced to $30 per square foot for 1997. Due to a remodeling of the terminal which
expanded rental space, rents for 1998 remained at $30 per square foot. For 1999 rents have
been increased by 1.5%, the increase of the US Consumer Price Index. Seasonal Airline
preferential space rents of one and one-half times the Signatory airline rents are required in
order to recover the Airport's fixed annual costs incurred regardless of the period of
occupancy and seasonal costs that relate directly to occupancy during high season.
14. Signatory and Pre -Signatory Airline landing fees are set pursuant to the "airport
residual basis" set out above and the attached Airline -related Policies, Procedures and
Standards. Seasonal Airline landing fees are calculated on a "compensatory" basis. Multi -
seasonal Airline landing fees are set halfway between the Signatory and Seasonal Airline
landing fees. Based on the 1999 airport budget and 5-year capital improvement plan, as
summarized in Exhibit "B," initial airline landing fees for 1999 of $.86 (per thousand pounds)
for Signatory Airlines, $1.36 for Multi -seasonal Airlines, and $1.87 for Non-
signatory/Seasonal Airlines are required based on estimated total landed weights for 1999.
15. Effective February 1, 1996, the County imposed a general aviation landing fee of
$1.35 per thousand pounds to fund a Noise Analysis Program and a reduction in the fuel
flowage fee to $0.10 per gallon. The general aviation landing fee will be continued at this
rate, but with the likely completion of the Noise Analysis Program in 1999 any remaining
proceeds will be spent on airport projects benefiting general aviation.
16. Some projects in the approved capital improvement plan have been delayed
beyond the initial schedule; however, the Airport has proceeded in good faith to complete
the projects as expeditiously and economically as possible as discussed in Exhibit "C."
17. Comparable rates and charges at other airports are listed in Exhibit "D."
18. The airlines have been given the opportunity to comment on the Airline -related
Policies, Procedures and Standards, the proposed rent and landing fees, and the Airport's
budget and updated capital improvement plan. The 1999 budget and capital improvement
plan for the Airport was reviewed in public session on November 5, 1998; first reading was
held thereon on December 2, 1998; and a public hearing was held thereon on December 16,
1998.
NOW THEREFORE BE IT RESOLVED by the Board of County Commissioners of
Pitkin County, Colorado that:
1. The County's Airline -related Policies, Procedures and Standards (including the
definitions of "Signatory Airline," "Pre -Signatory Airline," "Multi -seasonal Airline and
"Seasonal Airline") are hereby adopted and incorporated herein as Exhibit "A."
2. The terminal rent for exclusive and preferential space for Signatory, Pre -signatory,
and Multi -Seasonal Airlines for 1999 shall be $30.45 per square foot for indoor space and
$10.15 per square foot for outside covered space. The terminal rent for preferential space
for Seasonal Airlines for 1999 shall be $45.68 per square foot for indoor space and $15.23
per square foot for outside covered space. The terminal rent for shared -space for all airlines
for 1999 shall be $30.45 per square foot and shall be allocated among the airlines as shown
in Exhibit "E." Seasonal and Multi -seasonal Airlines shall pay shared -space rent according
to the same allocation formula as shown in Exhibit "E" except that they shall pay a "per -turn"
fee of $75 per aircraft departure if such fee is less than the 20% of shared space rent to be
split equally between the airlines monthly. Such Seasonal and Multi -seasonal Airline "per -
turn" fees shall be deducted from the 20% shared space monthly rent before splitting this
rent equally between the other airlines.
3. The landing fees contained in Section 4-1 of Article 4 of the Pitkin County Airport
Regulations, Title IV, Pitkin County Code (and the Airport's schedule of rates, fees and
charges for lessees, licensees and permittees), shall be and hereby are amended to read in
part as follows:
"4-1 There is hereby imposed on, and shall be paid by, all scheduled FAR
Part 121 air carriers and scheduled FAR Part 135 (air taxi and/or commuter)
operators authorized to serve Pitkin County and using the airport, a rate or
charge on all arrivals of aircraft from which such carrier or operator shall derive
revenue, equal to the following amounts per one thousand (1,000) pounds of
maximum allowable gross landing weight: $.86 for Signatory Airlines, $1.36
for Multi -seasonal Airlines, and $1.87 for Non-signatory/Seasonal/other
Airlines. There is hereby imposed on, and shall be paid by, such carriers or
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operators, a rate or charge on all arrivals of aircraft from which such carriers or
operators shall not derive revenue, equal to $.25 per one thousand (1,000)
pounds of maximum allowable gross landing weight. In addition there is
hereby imposed on, and shall be paid by, all non-scheduled FAR Part 121 and
FAR Part 135 (air taxi, charter, and/or commuter) operators and all FAR Part
91 operators (but excluding operators of year-round locally based aircraft with
maximum gross landing weights of 12,500 pounds or less) using the airport, a
rate or charge on all arrivals of aircraft equal to $1.35 per one thousand
(1,000) pounds of maximum allowable gross landing weight;"
4. The fuel flowage fee collected by ABO on behalf of the County is hereby
continued at $.10 per gallon.
5. The airline rent and landing fees for scheduled FAR Part 121 air carriers and
scheduled FAR Part 135 operators established herein shall be effective on and after
January 1, 1999. The landing fee for non-scheduled FAR Part 121 and FAR Part 135
operators and all FAR Part 91 operators and the fuel flowage fee were effective initially on
February 1, 1996, and shall be continued until changed by future resolution of the Board.
6. The rates, fees and charges herein established are determined and declared by
this Board to be in compliance with its rate -making policy as adopted in Resolution #87-56A
and its Airline -related Policies, Procedures and Standards adopted in this Resolution.
7. The rates, fees, and charges herein established are found to be in compliance
with the County's obligations under the Lease and Use Permits executed with the airlines.
8. The provisions of this Resolution shall be severable and if any portion(s) or
provision(s) of this Resolution shall be declared invalid or unenforceable, such a declaration
shall not render any of the other portion(s) or provision(s) invalid or unenforceable and all
remaining portions or provisions of this Resolution shall be given full force and effect.
9. This Resolution shall be available for public inspection during normal business
hours in the office of the Director of Aviation, Aspen-Pitkin County Airport.
INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEARING ON THE 16TH
DAY OF DECEMBER, 1998.
NOTICE OF PUBLIC HEARING PUBLISHED IN THE ASPEN TIMES ON THE 12TH
DAY OF DECEMBER, 1998.
APPROVED AND ADOPTED UPON SECOND READING AND AFTER PUBLIC
HEARING ON THE 13TH DAY OF JANUARY, 1999.E
PUBLISHED AFTER ADOPTION IN THE ASPEN TIMES ON THE 23RD DAY OF
JANUARY, 1999.
ATTEST:
BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO
Je: ette Jones / v Leslie Lamont, Chair
D Duty Clerk &Rerder
Date:
APPROVED AS TO FORM:
John Ely
County Attorney
RECOMMENDED FOR APPROVAL:
Tom Oken
Administrative Services Director
MANAGER APPROVAL:
Suzanne Konchan
County Manager
EXHIBIT "A"
ASPEN/PITKIN COUNTY AIRPORT
AIRLINE -RELATED POLICIES. PROCEDURES AND STANDARDS
A. INTRODUCTION. Pitkin County, Colorado, through its Board of County
Commissioners ("BOCC"), as sponsor of the Aspen/Pitkin County Airport, acknowledges its
obligations, pursuant to federal statutes and Federal Aviation Administration (FAA) Grant
Agreements, to provide access to and use of the Airline Terminal and related facilities at rates
and on terms and conditions that are fair, reasonable and not unjustly discriminatory.
However, the BOCC also asserts its rights, as owner and operator of the Airport, to regulate the
access to and use of such ground facilities in order to bring about an orderly allocation of
available areas and the most efficient use of limited space and, pursuant to such rights, hereby
establishes certain policies concerning access to and use of the Airline Terminal and related
facilities.
In establishing these policies, the Airport is attempting to: manage the Airport in a prudent or
businesslike manner; comply with its obligations under federal and state law; and recognize the
rights of all interested parties.
The County reserves the right to alter or amend these policies as part of its semi-annual rate -
making and review process in its sole discretion, subject only to federal law and existing
agreements.
B. DEFINITIONS. The following definitions shall apply herein:
1. "Signatory Airline." A Certificated Scheduled Airline that:
a. Has entered into a written Lease and Use Agreement for a term of at least one
year; and
b. Agrees to pay rates and charges on a "residual" basis; and
c. Undertakes to provide and does provide scheduled service of a least one flight
daily on a year -around basis; and
d. Has been a satisfactory tenant (e.g., no arrearages or defaults) for at least one
year; and
e. Agrees to enter into good -faith negotiations with other airlines to provide
"handling" services, if requested by the Airport.
2. "Pre -Signatory Airline". A Certificated Scheduled Airline that:
a. Undertakes to provide and does provide scheduled service of a least one flight
daily on a year -around basis; and
6
b. Intends to otherwise qualify for Signatory status, as provided herein; and
c. Has entered into a written Lease and Use Agreement for a term of at least one
year.
3. "Multi -seasonal Airline." A Certificated Scheduled Airline that:
a. Has entered into a written Lease and Use Agreement to rent Airline Terminal
space, if available, for a term of at least one year; and
b. Undertakes to provide and does provide scheduled service of a least one flight
daily during the winter and summer high seasons; and
c. Agrees to enter into good -faith negotiations with other airlines to provide
"handling" services, if requested by the Airport.
4. "Seasonal Airline" is an Airline that does not qualify (or that fails to qualify) as a
Signatory, Pre -Signatory, or Multi -seasonal Airline.
5. Other words and terms used herein are to be defined and interpreted according to the
following priority:
a. As defined by the FAA, through its enabling legislation and Federal Aviation
Regulations (FARS).
b. As defined by Colorado real estate statutes, case law and rules and regulations
(including, without limitation, those adopted by the Colorado Real Estate Commission).
c. As defined by common usage in the aviation industry, from the point -of -view of
a public airport.
C. AIRLINE TERMINAL ACCESS AND SPACE ALLOCATION POLICY. It is the
policy of the BOCC to provide access to the Airline Terminal and Facilities and to allocate such
spaces and facilities among Airlines on a modified "first -come -first -served" basis, recognizing
the extreme seasonal nature of Airport traffic.
Procedure. Airport staff shall establish deadlines reasonably in advance of the high -traffic
winter and summer seasons by which Airlines new to the airport are required to submit a formal
application for access (including a non-refundable application fee) in a form established by the
Airport setting out the details of their proposed operation. The Airport shall thereafter allocate
space between and among such new Airlines, Pre -Signatory, Multi -seasonal and Seasonal
Airlines according to the following priorities:
a. Number of passengers served (historical/projected/contracted).
b. Duration (seasonal, year -around) and frequency (daily, other -than -daily) of
proposed service on an annual basis.
c. Amount/type of space/equipment/facilities needed; method of providing
ticketing, customer service, baggage handling, ground services.
d. Type/size of aircraft to be used.
e. Status and seniority of Airline and length of Agreement term (less than year,
full -year, multi -year).
f. Coordination with schedules with other Airlines.
g.
Inter -Airline agreements (handling, code -sharing).
D. AIRLINE LEASING POLICY. It is the policy of the BOCC to provide access
through leases that meet the legitimate operational and business needs of the Airport. In
addition to the obligations recited above, the BOCC acknowledges its obligations to
operate the Airport in a manner to make it as self-sustaining as possible, and to establish
rates and charges on an appropriate basis .
Procedure Once an Airline has qualified for access, the Director of Aviation will
categorize the Airlines as Signatory, Pre -Signatory, Multi -seasonal or Seasonal, which
categories have various legal, financial and operational rights and obligations, as
follows:
1. Designation of Exclusive Use and Preferential Use Areas.
a. Signatory Airlines shall be entitled to lease all or part of their Premises
as "Exclusive Use Areas." Such areas, while still subject to re -allocation to
other Airline (pursuant to the Airport's obligation to provide access to all
qualified Airlines and reserved rights to do so in the Signatory Lease and Use
Agreement) are of a lower priority than Preferential Use Areas to be re-
allocated.
b. Pre -Signatory Airlines shall be required to lease all of their Premises as
"Preferential Use Areas," which are subject to re -allocation to other Airlines by
the Airport according to standards and procedures set out in an exhibit to their
respective Lease and Use Agreements.
c. Multi -seasonal and Seasonal Airlines shall be required to lease all of
their Premises as "Preferential Use Areas."
2. Airline rates and charges.
a. Signatory Airlines pay the rent established by the Airport and landing
fees on a residual basis.
b. Pre -Signatory Airlines pay the rent established by the Airport and
landing fees increased by an amount based on the administrative/legal and
operations costs associated with the commencement and expiration/termination
of Lease and Use Agreements.
c. Seasonal Airlines pay landing fees on a compensatory basis and the rent
established by the Airport increased by an amount based on: the
administrative/legal and operations costs associated with the commencement and
expiration/termination of Lease and Use Agreements; fixed annual costs
incurred regardless of the period of occupancy; and seasonal costs incurred that
relate directly to the occupancy of that season.
d. Multi -seasonal Airlines pay the rent established by the Airport and
landing fees at a rate midway between the rate charged Signatory Airlines on a
residual basis and the rate charged Seasonal Airlines on a compensatory basis.
3. Performance Guarantees and Security Deposits.
a. Signatory Airlines, if they have been satisfactory tenants for at least
three (3) years, may have security deposits and performance guarantees waived
by the Airport, subject to Airport's right to re -institute deposits and/or
guarantees in the event of a future non-performance default.
b. Pre -Signatory Airlines shall provide a cash security deposit and a
performance guarantee ( irrevocable letter of credit) of at least 3 months' rent,
landing fees and PFCs, as adjusted for the high season, plus a reserve for
collection costs. If Airline performs satisfactorily, the amount may be reduced
incrementally over a period of years.
c. Multi -seasonal and Seasonal Airlines shall provide a cash security
deposit and a performance guarantee ( irrevocable letter of credit) of at least 3
months' rent, landing fees and PFCs, as adjusted for the high season, plus a
reserve for collection costs.
4. Capital Improvements Plan.
a. Signatory Airlines, pursuant to their Lease and Use Agreements, shall
have a majority -in -interest (MII) right to dis-approve specific projects in the
Airport Capital Improvement Plan, pursuant to procedures as set forth in the
Airline's Use and Lease Agreement.
b. Pre -Signatory Airlines shall have no contractual right to disapprove
specific projects in the Capital Improvement Plan, but will be consulted by the
Airport on the design and cost of such improvements.
c. Multi -seasonal and Seasonal Airlines shall have no contractual right to
disapprove specific projects in the Capital Improvement Plan.
E. APPEAL RIGHTS. The determinations and space allocations described
hereunder are to be made by the Director of Aviation. Any Airline may appeal such
determination to the County Manager and/or the BOCC in a writing stating the rate, term
or condition objected to and the basis for the objection.
airport\rate_exa
4
Exhibit "B" - PITKIN COUNTY
1998
SUMMARY CAPITAL IMPROVEMENT PLAN (AIRPORT COST NET OF
AIRPORT FINANCIAL PLAN
1999 2000 2001
GRANT AND PFC FUNDING)
2002 2003
Terminal improvements
Replace snowblower and snowplow
Obstruction area grading / clean-up
Acquire land
General aviation replacement apron
Access / perimeter roads
Relocate long-term & employee parking
Rehabilitate general aviation apron
Card access system
Airfield signs
Runway overlay/rehab
Sewer trunk extension
Rehab & relocate air carrier apron
Patio shelters for local based aircraft
Relocate g.a. apron to former parking
Net Cost, Other Capital Projects
Inflation
Total Net Capital Improvements
SUMMARY OF CAPITAL FUNDING AND SURPLUS
Debt Service
Debt Service Coverage Ratio
Funding for Capital Projects
From Operations
FAA Grants
Annual passenger facility charges
State/other capital grants
Total Funding
Total Capital Projects
Annual Surplus/(Deflcit)
44,413
106,000
10,000
167,136
401,341
493,000 -
31,000 26,400
62,990
200,315
125,514
60,000 -
200,000 -
25,000
575,000
20,000 50,000
500,000
179,843
19,725
385,126
72,119
70,000
260,714
66,148
72,500
250,000
342,119
163,596
728.890
912,819 1,005,968 1,107,245 396,862 828,215
419,495
419,145 417,830
420,793
2.83x 2.65x 2.65x 2.65x
699,652
90,000
458,969
40,000
1,288,622
858,890
429,732
731,323
3,536,762
565,403
100,000
4,933,487
5,696,620
(763,133)
707,354 599,308
2,812,752 702,270
576,711 588,245
4,096,817 1,889,823
3,818,720 2,559,515
278,097 (669,692)
417,790 419,020
2.65x
2.65x
796,120 710,708
668,561 1,712,949
600,010 612,010
2,064 691 3,035,667
1,815,423 3,861,164
249,268 (825,496)
Cumulative Surplus/(Deficit) 2,986,037 2,222,904 2,501,001 1,831,309 2,080,576 1,255,079
PFC Balance Advanced from Surplus (278,691)
REVENUE SUMMARY
GENERAL AVIATION REVENUES 583,683
CONCESSION REVENUES 1,303,498
OTHER REVENUES 100,739
NONOPERATING NET REVENUE 442,312
TOTAL NON -AIRLINE REVENUES 2,430,232
(Percentage of total revenues) 73%
AIRLINE RENTS (incr at CPI) 694,210
AIRLINE LANDING FEES (residual) 214,917
TOTAL AIRLINE FEES AND CHARGES 909,127
(Percentage of total revenues) 27%
TOTAL REVENUES 3,339,359
RATE SUMMARY
Landing fees - if all signatory
Landing fees - signatory
- pre -signatory
- multi -seasonal
- single -seasonal (compensatory)
Landing weights (1,000 pounds)
Rent per square foot - annual
- seasonal
- outside covered
Airline rental area (square feet) - inside
Airline rental area (square feet) - outside
Enplaned passengers
Airline fees per enplaned passenger
Landing weights detail (in 1,000 #'s):
United Express
Mountain Air Express
Aspen Mountain Air
Northwest
America West Express
202,946 (373,765) (212,010) (62,019) 645,971
505,472
1,312,603
93,223
408,993
2,320,291
72%
632,797
268,571
901,368
28%
3,221,659
495,338
1,335,494
94.567
374,556
2,299,956
71%
645,453
295,348
940,801
29%
3,240,756
503,631
1,352,697
95,938
643,845
2,596,112
72%
658,362
337,137
995,499
28%
3,591,611
512,257
1,370,245
97,336
399,766
2,379,604
71%
671,529
313,372
984,901
29%
3,364,506
521,227
1,388,143
98,762
382,484
2,390,617
70%
684,960
322,077
1,007,037
30%
3,397,654
$ 0.51
$ 0.71
$ 1.30
$ 1.30
368,580
$ 30.00 $
$ 45.00 $
$ 10.00 $
21,608
4,243
244,513
$ 3.72 $
267,737
2,713
42,321
25,825
29,984
$ 0.91
$ 0.86
$ 1.36
$ 1.87
296,042
$ 0.98 $
30.45 $
45.68 $
10.15 $
21,608
4,243
1.09 $
301,963 308,002
31.06 $
46.59 $
10.35 $
31.68
47.52
10.56
21,608 21,608
4,243 4,243
214,982 219,282 223,667
4.19 $ 4.29 $
251,370
29,462
15,210
1.00 $ 1.01
314,162 320,445
$ 32.31 $ 32.96
$ 48.47 $ 49.44
$ 10.77 $ 10.99
21,608 21,608
4,243 4,243
228,141 232,703
4.45 $ 4.32 $ 4.33
airline rents assumes United rents
additional 556 s.f. admin/ops space for
ski season only
1/8/99
368,580
296,042
/v
PLAN99.XLS
Exhibit 'B" - PITKIN COUNTY AIRPORT FINANCIAL. PLAN
1998 1999 2000 2001 2002 2003
capital project inflation factors 1.000 1.000 1.020 1.020 1.020 1.020
CAPITAL PROJECTS EXPENDITURES
Terminal improvements 44,413 493,000 750,000 750,000
Replace snowblower and snowplow 310,000 264,000
Obstruction area grading / clean-up 725,000
Acquire land 600,000
General aviation replacement apron 2,000,000
Access / perimeter roads 106,000 250,000
Relocate long-term & employee parking 575.000
Rehabilitate general aviation apron 200,000 500,000
Card access system 62,990
Airfield signs 100,000
Runway overlay/rehab 2,500,000
Sewer trunk extension 167,136
Rehab & relocate air carrier apron 4,605,116
Patio shelters for local based aircraft 500,000
Relocate g.a. apron to former parking 700,000
Other capital projects (detail below) 441,341 225,514 179,843 385,126 260,714 342,119
Inflation - 74,877 99,389 104,709 294,045
Total Capital Projects
858,890 5,696,620 3,818,720 2,559,515 1,815,423 3,861,164
OTHER CAPITAL PROJECTS
Capital Replacement Cost Centers:
Buildings and Grounds 2,300 36,400 103,000 164,400 161,800 165,000
Computers 3,000 2,000 6,000 8,000 500
Fleet 150,000 26,000 26,000 61,000 26,000 135,000
Office Equipment 13,771 9,432 1,475 1,519 2,965 1,612
Technical Equipment 2,825 2,882 2,968 3,057 3,149 10,007
Radio/Phone/Paging 9,200 11,800 25,400 32,150 66,800 30,000
Capital Acquisition and Construction:
Precision Approach Path Indicator 58,800
Revenue collection system - ground trsp 170,000
Billing software 15,000
Flight info display system 50,000
Trees 6,427 15,000 15,000 15,000
Irrigation System 15,000 57,000
Intersection relocation Mil delay> 100,000
Other/Contingency 10,018
Total Other Capital Projects 441,341 225,514 179,843 385,126 260,714 342,119
State/other capital grants
Net Cost, Other Capital Projects
40,000 100,000
401,341 125,514
179,843 385,126
260,714 342,119
1/8/99
PLAN99.XLS
Exhibit "B" • PITKIN COUNTY AIRPORT FINANCIAL PLAN
1998 1999 2000 2001 2002 2003
CAPITAL PROJECTS GRANT REVENUE
FAA Grants
Terminal improvements
Replace snowblower and snowplow
Obstruction area grading / clean-up
Acquire land
General aviation replacement apron
Access / perimeter roads
Rehabilitate general aviation apron
Card access system
Airfield signs
Runway overlay/rehab
Sewer trunk extension
Rehab & relocate air caner apron
Relocate g.a. apron to former parking
Inflation
90,000
279,000 237,600 - -
- - - 652,500
540,000 -
1,800,000 -
225,000 -
180,000 450,000 - -
3,257,762
55,152 27,270
630,000
38,561
930,000
130,449
Total Capital Grant Revenue Need 90,000 3,536,762 2,812,752
702,270 668,561 1,712,949
FM Enplaned Passengers 244,513 214,982 219,282 223,667 228,141 232,703
Enplaned passenger growth rate 8.8% -12.1% 2.0% 2.0% 2.0% 2.0%
Current-yr Enplanement Funds 933,291 977,355 1,025,734 948,953 960,132 971,535
Prior Yr's Surplus/(Draw) 551,826 1,454,926 - 12,982 - 291,571
Discretionary Grants 90,000 1,104,481 1,800,000 450,000
Draw on next years funds
Net Grant Funding Available 1,575,117 3,536,762 2,825,734 961,935 960,132 1,713,106
FM capital grant funding needed 90,000 3,536,762 2,812,752 702,270 668,561 1,712,949
FAA planning grant funding needed 30,191 - 270,000 - -
FAA Grant Surplus/(Deficit) 1,454,926 - 12,982 (10,335) 291,571 157
Passenger Facility Charges (PFC's)
PFC projects:
Terminal improvements
Replace snowblower and snowplow
Relocate S.H. 82
Rehab & relocate air carrier apron
Runway overlay/rehab
750,000 750,000
1,047,039
1,320,000
1,047,039 - 750,000
1,500,000
1,226,299
1,047,039
1,710,408
750,000 1,320,000 5,483,746
Annual Committed PFC's 458,969 565,403 576,711 588,245 600,010 612,010
Annual Uncommitted PFC's
Total Annual PFC's 458,969 565,403 576,711 588,245 600,010 612,010
lost PFC on approx 70,000 enplanements for Feb - Mar '98
PFC Balance Advanced from Surplus (278,691) 202,946 (373,765) (212,010) (62,019) 645,971
1/8/99
l2-
PLAN99.XLS
Exhibit "B" - PITKIN COUNTY AIRPORT FINANCIAL PLAN
1998 1999 2000 2001 2002 2003
Inflation assumptions - airline rent
- labor
- other oper. exp.
1.015
1.020
1.028
1.020
1.020
1.026
1.020
1.020
1.023
1.020
1.020
1.024
1.020
OPERATIONS
Operating Revenues
Airline Rents 694,210 632,797 645,453 658,362 671,529 684,960
Airline Landing Fees 214,917 268,571 295,348 337,137 313,372 322,077
Airline Subtotal 909,127 901,368 940,801 995,499 984,901 1,007,037
FBO rent 245,683 250,378 258,225 263,754 269,505 275,485
Fuel flowage fees 130,000 120,000 120,000 120,000 120,000 120,000
GA landing fees 208,000 135,094 117,113 119,877 122,752 125,742
GA Subtotal 583,683 505,472 495,338 503,631 512,257 521,227
Rental Cars 766,000 843,303 860,169 877,372 894,920 912,818
Bar and Restaurant 121,766 98,746 98,746 98,746 98,746 98,746
Gift Shop 29,000 29,019 29,019 29,019 29,019 29,019
Ground Transportation 40,000 40,000 40,000 40,000 40,000 40,000
Parking 86,666 90,000 90,000 90,000 90,000 90,000
Advertising 214,166 163,975 170,000 170,000 170,000 170,000
Other Concessions 45,900 47,560 47,560 47,560 47,560 47,560
Terminal Concessions Subtotal 1,303,498 1,312,603 1,335,494 1,352,697 1,370,245 1,388,143
Misc. Landing Fees 3,300 4,600 4,600 4,600 4,600 4,600
Air Show 67,400 67,200 68,544 69,915 71,313 72,739
Other 30,039 21,423 21,423 21,423 21,423 21,423
All Other Subtotal 100,739 93,223 94,567 95,938 97,336 98,762
Total Operating Revenues 2,897,047 2,812,666 2,866,200 2,947,765 2,964,739 3,015,170
Operating Expenses
Labor 1,006,560 960,827 987,730 1,013,411 1,036,720 1,061,601
Services and Supplies 877,421 1,029,395 1,058,218 1,085,732 1,110,704 1,137,360
Environmental remediation 22,078
Asphalt Repair 77,524 95,703 87,559 77,366 109,939 88,290
Planning Studies
-Grant Eligible 33,546 300,000
-Ineligible 135,050 25,000
Total Operating Expenses (excl depreciation) 2,152,179 2,110,925 2,133,507 2,476,509 2,257,362 2,287,251
Operating Income Before Depreciation 744,868 701,741 732,693 471,256 707,377 727,918
1/8/99
/3
PLAN99.XLS
Exhibit "13" - PITKIN COUNTY AIRPORT FINANCIAL PLAN
1998 1999 2000 2001 2002 2003
NONOPERATING, RESERVES, AND SURPLUS
Nonoperating Rev/(Exp) Excluding Interest Exp 5.5% 4.5% 4.0% 4.0%
Investment Income 218,838 173,211 143,701 137,534
Proceeds From F/A Disposition 36,000 22,000 22,000 26,000
State gallonage tax 60,000 80,000 81,600 83,232
Jet fuel tax 70,000 90,000 91,800 93,636
State/Local Grants 28,533 45,032 36,705 34,693
Federal Grants 30,191 - - 270,000
Paying Agent Fees 1,250 1,250 1,250 1,250
Total Nonoperating Revenue 442,312 408,993 374,556 643,845
4.0%
129,060
22,000
84,897
95,509
69,551
1,250
399,766
4.0%
115,289
41,000
86,595
97,419
43,432
1,250
382,484
Amt Available for Debt Service 1,187,180 1,110,734 1,107,249 1,115,102 1,107,143 1,110,403
Series 1994 & 1997 Debt Service
Coverage Ratio
419,495 419,145
2.83x 2.65x
417,830 420,793 417,790 419,020
2.65x 2.65x 2.65x 2.65x
Reserve Increases
Operating 86,197 (14,734) 8,065 122,501 (78,267) 10,675
Repair & Replacement - - - - - -
Debt Service (18,164) (25,000) (26,000) (27,500) (28,500) (30,000)
Total Reserve Increases 68,033 (39,734) (17,935) 95,001 (106,767) (19,325)
Required Reserve Balances
Operating 768,635 753,902 761,967 884,467 806,201 816,875
Repair & Replacement 240,000 240,000 240,000 240,000 240,000 240,000
Series 1994 & 1997 Debt Service 342,500 317,500 291,500 264,000 235,500 205,500
Total Required Reserves 1,351,135 1,311,402 1,293,467 1,388,467 1,281,701 1,262,375
Funding for Capital Projects
From operations 699,652 731,323 707,354 599,308 796,120 710,708
FAA grants (lesser of available or req'd) 90,000 3,536,762 2,812,752 702,270 668,561 1,712,949
Annual passenger facility charges 458,969 565,403 576,711 588,245 600,010 612,010
State/other capital grants 40,000 100,000 - - - -
Total Funding 1,288,622 4,933,487 4,096,817 1,889,823 2,064,691 3,035,667
Total Capital Projects 858,890 5,696,620 3,818,720 2,559,515 1,815,423 3,861,164
Annual Surplus/(Deficit) 429,732 (763,133) 278,097 (669,692) 249,268 (825,498)
Cumulative Surplus/(Deficit) 2,986,037 2,222,904 2,501,001 1,831,309 2,080,576 1,255,079
1/8/99
PLAN99.XLS
Exhibit "B" - PITKIN COUNTY AIRPORT FINANCIAL PLAN
1998 1999 2000 2001 2002 2003
OVERALL SUMMARY
Operating Revenues
Operating Expenses
Operating Income Before
Depreciation
Net Non -Operating Revenue
Amount Available for
Debt Service
Debt Service
Coverage ratio
Reserve Increases
2,897,047 2,812,666 2,866,200 2,947,765 2,964,739 3,015,170
2,152,179 2,110,925 2,133,507 2,476,509 2,257,362 2,287,251
744,868 701,741
732,693 471,256
707,377 727,918
442,312 408,993 374,556 643,845 399,766 382,484
1,187,180 1,110,734 1,107,249 1,115,102 1,107,143 1,110,403
419,495 419,145 417,830 420,793 417,790 419,020
2.83 2.65 2.65 2.65 2.65 2.65
68,033 (39,734) (17,935) 95,001 (106,767) (19,325)
Funding for Capital Projects
From Operations 699,652 731,323 707,354 599,308 796,120 710,708
Net Bond Proceeds - -
FAA Grants 90,000 3,536,762 2,812,752 702,270 668,561 1,712,949
Annual passenger facility charges 458,969 565,403 576,711 588,245 600,010 612,010
State/other capital grants 40,000 100,000 - - - -
Total Funding 1,288,622 4,933,487 4,096,817 1,889,823 2,064,691 3,035,667
Total Capital Projects 858,890 5,696,620 3,818,720 2,559,515 1,815,423 3,861,164
Annual Surplus/(Deficit) 429,732 (763,133) 278,097 (669,692) 249,268 (825,498)
Cumulative Surplus/(Deficit)
PFC Balance Advanced from Surplus
2,986,037 2,222,904 2,501,001 1,831,309 2,080,576 1,255,079
(278,691) 202,946 (373,765) (212,010) (62,019) 645,971
2,707,347 2,425,850 2,127,236 1,619,299 2,018,557 1,901,049
1/8/99
PLAN99.XLS
EXHIBIT "C"
ANNUAL CERTIFICATION OF GOOD FAITH PROGRESS
ON PROJECTS AND ACQUISITIONS
AT THE
ASPEN-PITKIN COUNTY AIRPORT
REHABILITATION OF AIR CARRIER APRON
Invitations for bid were issued in the spring, but bids received substantially exceeded engineer's estimates and
available funding from the FAA. Project was sent back to engineers for redesign in an effort to reduce costs. Project
will be included in the 1999 apron extension project and is expected to be completed in 1999.
ASPHALT MAINTENANCE
This project was completed in 1998. It included substantial slurry seal, crack seal and infrared repairs.
SEWER TRUNK EXTENSION
The installation of the sewer trunk extension was completed, with the exception of the tie-in service lines to the FBO,
ARFF building and FAA. The FBO and ARFF buildings will be connected in 1999 and the FAA connection will be
completed when negotiations are successfully completed with the FAA regarding cost sharing for the project.
REVENUE COLLECTION SYSTEM. GROUND TRANSPORTATION VEHICLES
A procurement was completed for the design and installation of the system, and the equipment is being installed with
completion expected in January, 1999.
TERMINAL REMODEL
The present terminal capacity in airline ticketing and baggage claim proved to be sufficient to accommodate the
number of airlines and passengers during the 1997-98 ski season. Therefore, no additional terminal remodel project
was required.
PRECISION APPROACH PATH INDICATOR
Project completed.
INSTALLATION OF RUNWAY DISTANCE, REMAINING SIGNS
Project in progress, to be completed when signs are shipped from manufacturer. Expected completion date is January,
1999.
INSTALLATION OF SOIL VAPOR EXTRACTION SYSTEM
Design and installation of pipes were completed during the summer. The installation of the blower component is
scheduled to be completed by the end of December, followed by system startup.
INSTALLATION OF IRRIGATION SYSTEM FOR TERMINAL GROUNDS
Project requirements were identified by consultant and budget for installation of infrastructure is anticipated for 1999.
airline\crt98pjt
/lo
EXHIBIT D
LANDING FEE SURVEY 1998
12/23/98
AIRPORT SIG RATE NON -SIG RATE TERM RENT/S.F,
Salt Lake City $1.04 $28.50 - 92.25
Palm Beach $1.338 $1.6725 Avg =$54.06
561/471-7400 $17.90 - $71.60
Atlantic City $1.50 $1.88 $19.00/S.F.
Jackson Hole $0.78 $1.17 $17.00
Palm Springs Reg. $1.25 $1.56 $8.60 (bag cart area)
to $16.05 (exclusive)
to $25.21 (the rest)
DIA $2.80 $3.36 $76.66/annually
Durango $0.85 $1.50 $16.43
Grand Junction $0.73 $1.09 $22.34
Eagle $3.13 $4.69 $24.19
Steamboat $1.86 $2.33
Gunnison $1.05 $2.27 $21.76
($20 exlcusive to
$16 non-excl)
Telluride $1.00 $1.25 $14.00 - 15.00
Montrose $0.75 $2.00 $1300/yr
St. Croix $3.76 $4.70 $96.00
(340/778-1012)
Nantucket $1.70 $35.73
/1
Exhibit "E"
Pitkin County Airport
1999 Airline Terminal Space and Rent
Space Allocation
Square Footage
United Express
Exclusive
Preferential for 1/1-4/15
Preferential
Tix Counter 8
Ancil Admin
Pax Tix O
572 1,534
120
Baggage
Makeup
1,554
Admin
8 Ops
840
556
Bag Service
Office
465
Parts
Storage
Total
Interior
4,965
556
140 260
Outside
Covered
3,332
Grand
Total
Total
692 1,534
1,554 1,396
465 140 5,781 3,332 9,113
Mesa
Exclusive
Preferential
93 273
366
Total
93 273
366
366
Mesaba
Exclusive
Preferential
343
343
Total
343
343
343
Northwest Airlines
Exclusive
Preferential
Total
157 464
157 464
768 350
768 350
102 1,841 500
102 1,841 500 2,341
Shared space
Bag claim
Passenger hold room
7,500
4,067
7,500
4,067
11,567
11,567
11,567
RWyentt�, Allocation
United Express
Exclusive
Preferential for 1/1-4/15
Preferential
Total
Outside Covered
Annual Monthly
Terminal Interior
Annual j Monthly
33,819.84 2,818.32 151,184.28 12,598.69
4,937.98 1,410.85
7,917.00 659.75
33,819,84 2,818.32 164,039.26 14,669.29 197,859.10
Mesa
Exclusive
Preferential
11,144.76 928.73
Total
11,144.76
928.73 11,144.76
Mesaba
Exclusive
Preferential
Total
Northwest Airlines
Exclusive
Preferential
Total
5,075.04 422.92
5,075.04 422.92
10,444.32
10,444.32
56,058.48
56,058.48
870.36
870.36 10,444.32
4,671.54
4,671.54
61,133.52
allocated monthly as follows:
20% is split equally between the airiines
80% is split in the ratio of enplaned passengers
5,870.25
23,481.01
280,581.70
632,796.82
19,898 3,832 23,730
1/8/99 RENT99.XLS