Financial Feasibility Analysis Terminal Programming Study

Financial Feasibility Analysis Terminal Programming Study

Des Moines Airport Authority September 12, 2017

Contents 1. Funding Sources for Airport

Projects 2. Financial Metrics 3. CIP Summary and Funding Sources 4. Financial Model Assumptions 5. Scenarios

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Des Moines International Airport

1. Funding Sources for Airport Projects

Traditional Airport Funding Sources

Key funding sources using traditional finance

Airport Surplus Funds (internal cash) General airport revenue bonds FAA Airport Improvement Program (AIP) Passenger Facility Charges (PFCs) Customer Facility Charges (CFCs)

Airport's revenue sources are pledged to repayment of bonds

Results formalized in public bond offering document e.g. 2010 Bonds

No taxpayer funds are used to fund airport operations, and no airport funds can be taken off the airport for non-aviation purposes (with a few exceptions)

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Des Moines International Airport

Airport Funding ? Where does it come from?

9/11 Security Fee - per one-way trip to fund screeners, equipment, and other costs of the TSA.

Transportation Tax - A 7.5% tax on the base fare. Collected by IRS to fund FAA operations, such as air traffic controllers and radar systems. Also used to fund AIP program.

Passenger Facility Charge - $4.50 per segment up to four. Collected by airlines and remitted to the Airport.

Segment Tax - $4.10 per segment and also collected by the IRS for AIP.

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Des Moines International Airport

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