Facts
Sources and Uses of Funds
The Airport Improvement Program is part of John Wayne Airport's overall Capital Improvement Program (CIP) which involves construction of Terminal C with six (6) bridged aircraft gates, two new parking structures, and a variety of projects to enhance the existing Thomas F. Riley Terminal.
Sources of Funds
JWA will fund the Airport Improvement Program in the most cost-effective manner and without using any tax dollars. A variety of funding sources will be used, including:
- Internal Airport Revenues – JWA revenues are available to fund capital projects. A minimum balance of $35 million is kept in reserves, while additional funds have been set aside to support the Improvement Program.
- Federal Aviation Administration (FAA) Grants – JWA can receive reimbursement of up to 80 percent of the cost of eligible capital projects in Airport Improvement Program (AIP) grants from the FAA.
- General Airport Revenue Bonds (GARBs) – The bonds are payable solely from, and are secured by a pledge of, the net revenues of the Airport.
- Lines of Credit (LOCs) – This short-term financing mechanism would supplement the County’s long term debt financing program.
- Passenger Facility Charge (PFC) – The PFC, created by Congress in 1990, is intended to assist airports in funding major infrastructure development. The fee generates $4.50 per enplaned passenger for a defined collection period.
- Other – These funds are from Caltrans for seismic retrofit projects and from JWA Air Carriers for the hydrant fueling system.
Internal (JWA) revenue |
296,233,708 |
|---|---|
FAA |
25,091,135 |
GARBs |
91,154,617 |
LOCs |
43,697,587 |
PFC |
180,461,279 |
Other |
15,300,000 |
Total CIP: |
$651,938,326 |
Uses of Funds
While the Improvement Program will be a primary focus for JWA in the coming years, the Airport will continue its strong commitment to safety, security, environmental responsibility and sound financial management as part of its overall CIP. The figures below reflect the most current cost estimates for the full Capital Improvement Program. Of the total $652 million, the Airport Improvement Program is estimated at $572 million, while other capital improvements are anticipated to cost less than $80 million.
Terminal |
261,976,423 |
|---|---|
South Remain-Over-Night |
34,350,328 |
Parking Structure C |
60,428,902 |
Parking Structure C Phase Two |
43,697,582 |
Professional Services (1) |
69,776,968 |
Contingency |
53,044,126 |
Miscellaneous (2) |
48,694,524 |
Other CIP |
79,969,473 |
Total Airport Improvement Program: |
$651,938,326 |
(1) Includes project and construction management, geotechnical, scheduling, etc.
(2) Includes Commuter/Regional facilities, Common Use Terminal Equipment (CUTE) gate and ticket counter signage, and Terminals A & B renovation.