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Ord. 20640
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2020 No. 20625 - 20644
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Ord. 20640
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10/22/2020 11:45:35 AM
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10/22/2020 11:43:40 AM
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City Recorder
CMO_Document_Type
Ordinances
Document_Date
10/12/2020
Document_Number
20640
CMO_Effective_Date
11/20/2020
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IMPLEMENTATION AND FINANCING PLAN <br />Based on the above analysis it is clear that the issuance of long-term debt to cover debt expenses for <br />major passenger terminal projects in CIP will create a degree of financial strain at EUG if the Airport opts <br />to implement the CIP as proposed. Financing FFY 2022 passenger terminal projects using long-term debt <br />secured through PFC collectionsis financially feasible, however, in order to implement all elements of <br />projects shown in Table 5-8 as having at the levels and timing described within this <br />master plan, it is expected that an additional $22.2 million of funding will need to be defined. <br /> Opportunities for Revenue Enhancement <br />Opportunities for revenue enhancement come from a variety of options which are generally directly <br />related to the type of customers using airport facilities, the type of assets owned by the Airport including <br />available land, and the Airports business model. Additionally, it has been proven that customer service <br />also directly impacts revenues at airports. Knowing and understanding passenger/customer needs and <br />interests allows any business to better serve its customers, which ultimately translates to higher revenues. <br />As discussed in Section 5.8.3, Estimated Project Revenues, the implementation of several projects <br />included in the CIP will increase airport revenues and provide the Airport with enhanced opportunities to <br />increase revenues. Additionally, projects in the CIP could also allow the Airport to incorporate new fees <br />and charges associated with new services provided at the Airport, including for example, fees for <br />commercial vehicles using airport premises such as transportation network companies (TNC) like Uber and <br />Lyft. The use of technology and the availability of new services to better track passenger behaviors and <br />overall satisfaction are new tools being used at airports in an effort to improve opportunities for <br />additional revenue sources and track customer satisfaction. One example of new landside technology that <br />increases both revenues and customer service are , which reduce wayfinding for <br />customers, make better use of facilities, and allow for an increase in fees. Additionally, some airports are <br />providing a premium covered parking product in surface lots with canopies which double as solar energy <br />harvesting installations. One example of new terminal secure-side amenities is the combination of shared <br />hold room and concessions space outfitted with tablet technology which include point-of-sale software, <br />providing higher levels of service and increased opportunities for revenue. <br />Land is one of the largest airport assets, and vacant land is often an undervalued and unused asset that <br />still generates annual regular maintenance and security expenses to the Airport. Temporary lease of <br />vacant lands that are not expected to be used on a short-term basis is allowed by the FAA and does not <br />have a negative impact on grant assurances. Revenue generated from leasing this type of land helps to <br />offset operating expenses which may even be great enough to provide additional revenue for capital <br />projects. <br />EUGENE AIRPORT MASTER PLAN 5-75 <br /> <br />
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