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NOTE: Due to material changes in the economy in 2008 and 2009, <br />as well as changed in the aviation industry, a Supplemental Financial <br />Analysis was prepared. It is presented in Appendix B and supersedes <br />5 <br />5 <br />portions of this chapter. <br /> <br /> <br />Chapter <br />Financial Feasibility Analysis <br /> <br />This chapter, which presents the results of the feasibility <br />analysis conducted, is organized as follows: <br />Airport Financial Structure <br />1. <br />Capital Improvement Plan <br />2. <br />Funding for the Program <br />3. <br />Historical and Projected Airport Revenues <br />4. <br />Historical and Projected Airport Operating Expenses <br />5. <br />Historical and Scheduled Debt Service <br />6. <br />Cash Flow Analysis and Overall Feasibility <br />7. <br />Sensitivity Analyses <br />8. <br />This chapter analyzes the capacity of the City of Eugene to <br />undertake the recommended capital improvement plan (CIP) <br />developed as part of this Master Plan Update. As presented <br />herein, an investment totaling approximately $119.38 <br />1 <br />million is required between fiscal years 2008 and 2028 to complete the recommended aviation safety, <br />preservation, security, and capacity enhancement projects included in this plan. As further described in <br />this chapter, the following funding sources are anticipated to be available and utilized to complete the <br />projects contained in this program: <br />Percent (%) <br />Funding Source Amount <br />of Total <br />FAA Entitlement $ 58,061,908 48.6% <br />FAA Discretionary $ 5,535,719 4.6% <br />Passenger Facility Charges $ 32,271,873 27.0% <br />Local (Capital/Operating Reserve) $ 15,901,500 13.3% <br />Customer Facility Charge Revenues $ 3,000,000 2.5% <br />Other Funding $ 4,610,000 3.9% <br /> $ 119,380,000 100% <br />Of equal importance to the Airport’s ability to garner sufficient funding to complete this capital plan is the <br />need to understand the capability of the Airport to generate sufficient revenues to fund all anticipated <br />operating expenses, contributions to reserve funds, and payment of debt service. To this end, this chapter <br />includes an analysis of forecasted Airport operating revenues and expenditures, including annual <br />contributions to said reserve funds. <br /> <br />1 <br />Total cost of the capital projects includes a 4% annual inflation factor. <br />5-1 <br />Eugene Airport Master Plan Update <br />(February 2010) <br /> <br /> <br />