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IMPLEMENTATION AND FINANCING PLAN Analyzing the potential environmental effects for projects within each development phase will need to be completed in advance of design and construction to allow for project completion in accordance with applicable federal, state, and local rules and regulations. Environmental projects which are not already programmed into the FAA Accepted 5-Year CIP have been strategically grouped into EAs and scheduled into the CIP based upon the timing and magnitude of the projects being assessed. This allows each EA within the CIP to analyze the potential environmental consequences associated with the proposed actions along with any enabling projects prior to the start of construction. The groupings of associated projects for each EA programmed in the CIP will be addressed further within the project narratives later in this chapter. The applicable time for development should be reviewed by Airport management periodically and adjusted as necessary to account for changing circumstances. Table 5-8 shows the capital improvement project timeline as well as a breakdown of likely funding sources for each CIP project. Table 5-9 further breaks down CIP funding needs for each project by Federal Fiscal Year. The CIP shows two large capital projects where it has been suggested that the Airport will have to issue some form of long term financing. According to Airport guidance, this analysis includes a municipal bond to be secured and repaid using PFC funds. The two projects programmed to be supported through the bond include: the expansion of terminal ticketing and baggage facilities and the construction of a new terminal concourse including five new gates and passenger boarding bridges which are anticipated to begin construction in FFY 2022. As shown in Table 5-8, it is anticipated that the Airport will need to borrow $23.7 million in 2022 to implement these projects. Table 5-8 also shows that the proposed funding for the 20 year CIP rely heavily on AIP grants and PFC funding, thus limiting the long-term funding options of these projects to other funding sources. In this same table it is shown that AIP funds and PFCs will account for a total of $142 million of the $227 million needed for the implementation of the 20 year CIP. This amount accounts for 62.5 percent of all funding. In addition, $36.5 million in PFC funds collected from FFY 2023 to FFY 2042 will need to be allocated to repayment of a municipal bond. Between 2018 and 2037 the Airport is expected to collect approximately $50.7 million in PFCs, $21.8 million of which are proposed to be used for funding of several CIP projects. During the planning period, $27.4 million in PFCs is programmed to be used for repayment of a municipal bond which funds construction of necessary passenger terminal building improvements. A total of $49.1 million in PFC funding is programmed over the 2018 2037 planning period. The CIP, as programmed, is a strategy to provide the Airport with the infrastructure required to meet rapidly growing demand. Short- to completely fund all investment through the anticipated funding sources. For this reason, four projects, as shown in Table 5-8, . This means that either new funding sources will need to be identified or project scopes will need to be adjusted in order to complete the minimum project elements required to accomplish their goals. Defining funding for these projects as the CIP did not program a complete depletion of airport reserve funds. Over half of the defined unmet need is driven by project costs associated with the rehabilitation of Taxiways C and M, programmed to occur in FFY 2021. The 2019 Pavement Maintenance Plan update should evaluate the absolute need for this project to occur in FFY 2021. EUGENE AIRPORT MASTER PLAN 5-20