Sessions will continue to be added to this year's program. Please check back occasionally to see what's new. All times listed in EST.
DAY 1: Wednesday , September 23, 2020 (note all sessions in EST) 12:00 PM – 12:45 PM Opening Session: The Role of Alternative Delivery in the Face of Our Most Pressing Challenges Airports of all sizes currently are confronting operational and funding challenges that cannot be addressed solely with existing resources. What options and pathways are available? In this opening session we will speak to some of most urgent challenges confronted by airport owners, operators, and community stakeholders; and speak to the major political, policy, and project developments likely to matter in the coming months.
1:00 PM – 1:30 PM Virtual Room 1: The Role of Equity in US Airport P3s Over the course of the Summit, we will be identifying and exploring the benefits that private investment can bring to US airports, but at what cost? Leaving aside the numerous benefits that private investment can bring, what benefits does equity specifically itself bring to a project? Does the participation of equity bring any inherent advantages, especially in a market like the US, where there are low-cost and tax-free financing options available? What is the optimum level of equity in a project and how is the right balance of funding sources determined? This session will convene a diverse panel of stakeholders to share their perspectives on the role of equity in the ongoing development of the US airport P3 market.
1:00 PM – 1:30 PM Virtual Room 2: Solutions for Small, Medium, and General Aviation Airports The investment community has placed considerable attention on P3 investment opportunities at the largest hub airports in the United States such as DIA, JFK, and LAX. These opportunities will not always be available or may be too large or complex for some investors. It is important not to overlook smaller airports which can be enormously attractive investment opportunities because the smaller size of the investment, the greater cooperation of the airport proprietor, and the reduced uncertainty of the transaction. Naturally, investment in these airports also carries its own challenges, including the greater need to educate public officials, the need to assess uncertainties in future traffic levels, and often the unfamiliarity of the market for these transactions. This session explores – from both the airport proprietor and the investor’s perspective – how to address the unique hurdles posed by P3 development at small, medium, and general aviation airports. Join us for a discussion that examines what facilities and developments are most ripe for private investment and what strategies should be used to attract interest from the public sector in these transactions.
1:00 PM – 1:30 PM Virtual Room 3: The Differences Between Project Funding vs. Project Financing This session introduces fundamental financial topics related to public-private partnerships for airports. We review how financing models are changing and how a traditional project finance programs compare to other P3 tools, such as concession agreements that are more common in other sectors. Lastly, we examine which P3 structures work best for a specific project or to meet the specific goals of an airport, and will delve into how different structure impact project viability, the return to the airport; and credit profiles and balance sheet.
1:00 PM – 1:30 PM Virtual Room 4: How Does the AEC Industry Gear up for Airport P3s? Many airports are turning to P3s to help provide alternate funding solutions for infrastructure development projects. While airport authorities are moving in this direction, the Architecture, Engineering and Construction Industry also need to head in the same direction to provide effective delivery of P3 programs. As much as P3s present a great opportunity for the AEC Industry to participate, challenges do exist in terms of preparing and equipping the industry to handle delivery and execution of such programs. This panel of industry leaders who have been involved in ground-breaking projects will discuss lessons learned for their recent projects while also sharing insights on how the AEC industry can gear up for the future of Airport P3s.
1:45 PM – 2:15 PM Virtual Room 1: The Business of Airport P3’s Airports and particularly P3 airports are a complex and ever-changing unique entity that not only is a big business but is a critical economic engine for an entire community. While the airport P3 starts out as a real estate and financing exercise, it then transforms into a major construction project which, upon completion, becomes a multipurpose business enterprise. The operations encompass airside but includes so much more including, hospitality, retail, baggage transport, parking, rental operations to name a small list. Join this panel as they delve into the Business of Airports. Panelists will share their insights and experiences they have seen and will share some thoughts on best practices as it applies to both the public and private sector.
1:45 PM – 2:15 PM Virtual Room 2: Preparing a Successful Procurement A procurement model is a combination of design, construction, financing, operations, and maintenance. In this panel we discuss the key issues that public agencies must consider in conducting a project procurement - structuring the agreement, conducting a fair and competitive procurement process, and negotiating a final agreement that is transparent and protects the public interest. Panelists will review best practices and new approaches to procurement in the context of public-private partnerships, and considers how owners can most effectively structure risk transfer in design and construction costs, operational and maintenance challenges, and factors that can impact value for money analysis.
1:45 PM – 2:15 PM Virtual Room 3: Fitting the Right Model to Current Operating Challenges Airports are struggling today with operational and funding challenges that cannot be addressed solely with existing resources. Across the country a preponderance of small to midsize facilities are being forced to reappraise their options and priorities. And while P3’s have demonstrated value in expediting project delivery, providing technology access, and transferring risk; communities across the country have been slow to adopt the model. This session considers why and explores the role of public and private sector participants in local challenges.
1:45 PM – 2:15 PM Virtual Room 4: How Construction, Operating and Contractual Risks Increase After the Coronavirus The coronavirus outbreak and the unprecedented measures to contain it resulted in the suspension, delay or material slow down for many projects under construction. How the impact of these delays are contractually addressed varies by project and protracted negotiations will persist for some time for many existing projects. New projects in procurement must address coronavirus related risks upfront, which has delayed and even canceled some projects. The future project pipeline could be in jeopardy as public entities delay or cancel large capital projects to focus on preserving cash resources. Projects are also exposed to the weakening credit quality of construction companies that will also be unwilling to take fixed-price contract risk without appropriate risk allocation to mitigate coronavirus related risks, reducing the potential pool of bidders. The speakers will discuss the impact of the coronavirus outbreak in construction, how existing force majeure clauses address this risk and our expectations for how it will be addressed moving forward, and the outlook for future projects post the initial coronavirus outbreak.
2:15 PM – 2:45 PM 30 Minute Break: Virtual Expo Hall Tour / Digital 1 on 1s
2:45 PM – 3:15 PM Virtual Room 1: Perspectives on the P3 Decision Process North American P3 opportunities continue to expand as the aviation community addresses the combination of aging infrastructure and dramatic growth. This panel session has invited critical P3 decision makers to identify key considerations in the implementation of P3’s from the early stages of growth planning all the way through the implementation and execution of existing P3 opportunities. Our panel includes representatives of some of the most aggressive capital development programs in the P3 space alongside those directing large capital programs with well-developed strategies and smaller scale programs in the early stages of implementing their growth strategies. Rounding out the panel will be the Airport Cooperative Research Program’s (ACRP) Principal Investigator who will provide details on ongoing research and trends in P3 development.
2:45 PM – 3:15 PM Virtual Room 2: Airline Use and Lease Agreements in P3s As airport private investment evolves within the United States aviation marketplace, financial models and strategies continue a process of refinement. Recent changes to the Airport Investment Partnership Program in the 2018 Re-Authorization Bill will influence the decision-making process. In this session we discuss how lessons learned from full privatization, airline and private real estate development scenarios can script the future of airline use and lease agreements to optimize investments opportunities for all parties.
2:45 PM – 3:15 PM Virtual Room 3: Project Delivery 101 - What to Consider When Starting Out The session will cover issues that clients need to consider before entering a partnership. As with any change in the way assets may services their community, there is significant planning required to ensure a successful outcome. This discussion will cover the advanced thinking and decision-making that should be considered for a successful procurement. Panelists will outline critical political, technical and financial points for clients to consider as they prepare for the procurement process and will also share their experiences and lessons learned.
2:45 PM – 3:15 PM Virtual Room 4: Solutions for Project Contracting Two forms of life-cycle contracting have been predominant over the last 20 years in the sector: DBOM and P3 (DBFOM). Both offer a single point of accountability for contract performance over the long term, a key requirement for public agencies. In a DBOM, a guaranty is provided by the operator’s parent company. In a P3, an equity contribution is made to a special purpose project company, accompanied by a private project finance loan (P3). This session will explore two potential new solutions that also can achieve one point of long-term accountability. First, a successor guarantor structure similar to a DBOM, under which a design-builder’s guaranty is replaced by the operator’s guaranty following project acceptance. Second, an equity-only P3 (or wide-equity), where the equity investment component is retained but the long-term private project debt component is replaced either partially or fully by lower interest rate, public agency debt or other loans to the public agency.
3:30 PM – 4:00 PM Virtual Room 1: Technology Driven P3s – Driving Smart Investment Strategies Technology continues to accelerate with the pace of adoption and life of the installed infrastructure often moving at a schedule that outstrips the traditional procurement processes. Technology based Public-Private Partnerships offer airports a business model capable of reducing the risk and funding requirements for “smart airport” and IOT type investments whether they are embedded in larger capital programs or identified as stand-alone requirements. This session addresses three primary elements of the discussion: Why an airport would consider a technology based P3, How an outcome based model can reduce risk and fund up to 100 percent of the requirement, and What types of technology are available to deliver within a technology based P3.
3:30 PM – 4:00 PM Virtual Room 2: Addressing Existing Employment Under Airport P3s As privatization of airports continue to be explored by current Sponsors across the United States, one of the most frequent questions and concerns to arise relates to the position and welfare of existing Airport Staff. Privatized operators seem to have this “undeserved” reputation of coming in and cleaning house, developing streamlined business processes and elimination of jobs. In reality the opposite is true, no Operator has an airport staff in the wings waiting to move in and “take-over”. In fact, during the drafting of Operating Standards and Negotiation of Final Lease agreements employment language regarding protections and obligations become part of the final concession agreement. There are more opportunities than uncertainties – Yes the business model will change, but the business does not. Join us for this important conversation on employment under airport public-private partnerships.
3:30 PM – 4:00 PM Virtual Room 3: What is Due Diligence and What Role Does It Play? Most parties considering a P3 probably don’t even consider due diligence an important project role. Many P3 proponents can’t even describe the multiple roles due diligence efforts might play throughout the transaction. Due diligence however can determine if a P3 is feasible and can meet the sponsor’s desired policy objectives (or not), help define a long-term sustainable transaction, mitigate project risks, and gauge the practical and financial reasonability of a P3 proposal. For this presentation we will focus on real world examples of where P3 due diligence has improved P3 outcomes.
3:30 PM – 4:00 PM Virtual Room 4: P3s are Not “All About the Money” – Benefits Beyond Financing While financing for P3s can be a significant driver, a P3 approach for needed facilities offers more benefits than just financing. When properly structured, P3s can provide project consideration, implementation and operation solutions that add expertise, drive innovation and allocate risk while appropriately balancing levels of control and recognizing the complexity of certain projects. This panel taps into the P3 benefits-beyond-financing for all types of infrastructure assets.
4:00 PM – 5:00 PM Happy Hour – Video Networking Session and Summit Games
DAY 2: Thursday, September 24, 2020 (note all sessions in EST) 12:00 PM – 12:45 PM Opening Session: When Airlines Consider Alternative Delivery, What Do They Look For? While projects discussed in this year’s program indicate growing interest in airport P3s project across the country, the U.S. airport P3 market remains in a comparatively undeveloped stage. P3s can create savings and provide meaningful risk transfer, but how do airlines look at project proposals and determine whether a project truly makes sense. Is it all about revenue potential? And since so much of the cost of a project is rooted in the construction time frame: how much of a project’s appeal depends on the short time possible delivery time? What are other criteria and concerns by which an airline might evaluate a project? This panel discussion focuses on the airlines perspective and considers what they think is critical, from the planning stages to long-term operations. We’ll discuss where airlines see value, key points of risk transfer; and also examine what degree of cooperation, control, and planning is needed ultimately to provide the right customer experience.
1:00 PM – 1:30 PM Virtual Room 1: Projects in Process: Goals, Challenges, and Early Lessons This session will address the best practices and lessons learned from active P3 projects in both the construction and operation phases. The panel will examine how to drive innovation and value for money, find the right risk transfer balance ensuring a successful transition, and what to expect for the next 30 years. The panel will also discuss key considerations in developing and implementing P3 projects including development of performance specifications, dispute resolution approaches, and risk allocation between the private and public partners. Join this conversation to discuss these issues and discover some ideas to develop concepts that might work for your next project.
1:00 PM – 1:30 PM Virtual Room 2: How Innovation, Technology, and Data are Unleashing Value at Airports Consumer expectations and travel needs are evolving, and many airports are becoming diverse commercial businesses. As a result airport owners and operators are continuously challenged to find better ways to effectively manage their infrastructure assets. Effective asset management through the adoption of technology are improving airport operations not only from a passenger experience standpoint but by achieving new operational efficiencies like maximizing aeronautical and commercial revenues, increasing capacity through better gate management, and lowering operating costs. This panel discussion will explore current trends in technology, how data is being leveraged to drive non aeronautical revenues, and examples of project implementation.
1:00 PM – 1:30 PM Virtual Room 3: Innovative Approaches to Realize Cost Savings and New Revenue Streams Airports owners and facility managers more and more are being required to increase resiliency, reduce their carbon footprint and achieve increasingly stringent regulatory requirements, all while minimizing the need for expense increases. Several owners are finding that the use of Public Private Partnerships and Alternative Delivery Projects are important tools to achieving their objectives. We'll discuss projects being developed allowing facilities to realize energy cost savings and the receipt of new revenue streams as well as proceeds from the sale of renewable energy attributes.
1:00 PM – 1:30 PM Virtual Room 4: How Do I Design a P3? - Best Practices in Deal Structuring The basis of all good public-private partnerships is in the structuring of the deal and the management/oversight of the contract. During this session both public and private sector experts will discuss the basic and best practices for P3 deal structuring. They will also share their views on the best practices for contract management for the long-term success of a P3.
1:45 PM – 2:15 PM Virtual Room 1: Picking the Right Project Partners Alternative delivery projects are still new and different to many: they require new processes, new ways of thinking, new legal and financial models, and an understanding of new risks. To attract the right consortium partners (developers, investors, contractors and service professionals), the owners must instill confidence in the procurement process. This session will consider various methods agencies can implement to use this initial phase of the P3 process to their advantage to not only generate interest from the private entities in their project but to also minimize and avoid the issues associated therewith. At the same time - building a successful procurement and delivering a project demands identifying the right partners. When running a P3 procurement, the public sector project manager may potentially spend more time with their advisors than they will with their own family – and the public sector must pick their advisors carefully. Similarly, when the public sector selects the winning private sector partner for a full life-cycle of a project (over 30 years) it is critical to identify the right partner. Join this session for a candid discussion from both those who have made these selections and those who have been part of these partnerships and will share their experiences and lessons learned.
1:45 PM – 2:15 PM Virtual Room 2: An Introduction to Build America Bureau Programs Come learn about the financing programs offered by the U.S. DOT’s Build America Bureau including: the Transportation Infrastructure Financing Innovation Act (TIFIA), the Railroad Rehabilitation and Improvement Financing (RRIF) credit programs, and the Private Activity Bond (PABs) program. This workshop reviews the features of the Bureau’s credit programs, including eligibility considerations and Federal requirements, and what to expect when applying for loan. Workshop panelists will highlight current airport project eligibility (including public infrastructure/transit-oriented development, intermodal, and surface transportation projects), share case studies, and review the various types of technical assistance offered by the Bureau (including public-private partnership education and resources). Discussion topics to include: • Major requirements for Bureau financing and how to get started • Procurement considerations • Eligible repayment sources including PFCs and CFCs • Project case studies • P3 and other technical support/resources 1:45 PM – 2:15 PM Virtual Room 3: Dispelling Myths about P3 Delivery Increasing urbanization has placed a spotlight on the need for improved airport infrastructure like never before, but many authorities are challenged to meet the growing and evolving needs because they face budget constraints and deficits for capital improvement. In this context, a growing number of airports are turning to P3s to help bridge the gap and meet citizens’ needs. However, as adoption increases, it’s important to acknowledge the myths that can often throw the delivery of a P3 project off track: in many projects, the airport believes it can transfer risks almost entirely to the developer, while the developer looks for the airport to step back and let them deliver. The reality is that airports at the end of the day retain the risk if the project does not perform and face consequences with airlines and passengers. Similarly, the developer and contractor need the airport to play a critical role in understanding constraints and customer experience implications. This panel will discuss the myths and realities, and what airports and developers alike should be doing to prepare themselves to deliver a P3 that they may not be thinking about today. 2:15 PM – 2:45 PM 30 Minute Break: Virtual Expo Hall Tour / Digital 1 on 1s
2:45 PM – 3:15 PM Virtual Room 1: Understanding Airport Asset Recycling Asset recycling is a means to monetize existing infrastructures and engaging private partners to invest in and upgrade existing asset needs under present budget and financing constraints. Through recycling of lease proceeds created from long-term leases of facilities, new funding source potential is created for development of new infrastructure projects. Asset recycling addresses both existing facilities and future projects. In this session our panel will discuss topics including the increase of private capital in asset recycling, how performance provisions in long-term leases ensure facility improvements, and the increase in state and local governments utilizing asset recycling as a tool to create additional funding. 2:45 PM – 3:15 PM Virtual Room 2: The New Terminal One at JFK: Progress and Plans The redevelopment of JFK Terminal One is taking off in line with the Vision Plan for JFK. The New Terminal One will be built on the sites of the current Terminal One, Terminal 2, and former Terminal 3; and will serve as the principal international gateway to New York and the US. At $7 billion, the new 23-gate facility is one of the largest transportation P3 projects to be built in the US. Hear from leaders of various parts of the project on the progress to date and the plans to design, deliver, finance and operate a world-class facility in concert with the Port Authority, neighboring developments at JFK and the local community.
2:45 PM – 3:15 PM Virtual Session 3: Applying Design-Build Best Practices In this session we will discuss the intersection of current design-build practices and how they should be adapted for projects. With a collaborative delivery inherently embedded in almost any alternative delivery approach, mastering the design-build learning curve is fundamental to successfully implementing projects. The panel will focus on identifying key issues and risk transfer considerations unique to design-build delivery followed by an interactive discussion addressing key implementation issues For example: what are the preparation steps needed for an to implement a project without prior hands-on design-build experience? How does the fixed price design-build approach translate to a procurement, particularly in relation to prescriptive- versus performance-based requirements? Is there a progressive design-build option within the DB framework? How does the risk transfer and securitization of existing DBO models compare to traditional delivery? And how can commissioning approaches and acceptance metrics for design-build and DBO projects be applied in today’s environment?
2:45 PM – 3:15 PM Virtual Room 4: Best Practices in Risk Allocation and Surety The effective use of the P3 model is predicated on contractually allocating risk to the party most able to effectively manage it, but such risk allocation cannot occur in a vacuum. Risk allocation between parties must be aligned with project fundamentals including performance, financing and payment obligations, to ensure that parties are sufficiently incentivized to effectively manage their respective risks once the signed concession agreement becomes effective. This session will offer real world examples, and insights into the critical links between effective risk transfer and incentives impacting both the private partner selection process and the successful implementation of the project concession agreement.
3:30 PM – 4:00 PM Virtual Room 1: Why Do an Airport P3? Building the Business Case What are the business considerations that an airport must review before starting the P3 process? Please join this session to hear a panel of experts discuss the elements that must be considered as the public builds out the business case for a public-private partnership. Also hear ideas as how to effectively communicate the business case to the community at large.
3:30 PM – 4:00 PM Virtual Room 2: What is Value for Money? A Primer Not every infrastructure project can or should be delivered as a P3, and before initiating procurement as a P3 project, public agencies often undertake a business case analysis to determine whether a P3 is viable. The Value for Money (VfM) analysis was developed to compare the estimated total life cycle cost of a project implemented by a public agency with traditional infrastructure procurement vs. a P3 procurement. Some public agencies advocate a VfM be prepared at multiple stages of a project development and procurement, to help serve as a decision tool to ensure that the choice of a P3 procurement is the best long term value proposition for the public sector at a given point in time based on the best information available. In this roundtable we’ll review how VfM analyses are performed, including assessment of risk allocation, risk analysis and quantification of risks and adjustments to create an “apples to apples” comparison.
3:30 PM – 4:00 PM Virtual Room 3: What Do Investors Really Care About? A no-nonsense assessment of what the private sector is looking for when assessing whether to bid infrastructure project opportunities. Learn what makes a project attractive to a potential partner and understand the red flags for private sector bid teams, how to avoid them as a public-sector procurer, and how to get the best out of the private sector in a competitive process.
4:00 PM – 5:00 PM Happy Hour – Video Networking Session and Summit Games
DAY 3: Friday, September 25, 2020 (note all sessions in EST) 12:00 PM – 12:45 PM Opening Session: Top 10 Issues When Procuring To attract the right P3 consortium partners, airports must instill confidence in the procurement process and house the necessary expertise to support a pipeline of P3 projects. One way to do this is through a dedicated institutional framework designed to manage and guide programs and projects. Join this panel for a step-by-step review of 10 critical issues that must be addressed in a P3. Those issues include Vision, Political Champions, Communication, Community, Commitment, Experience, Funding, Staff, Time, and Access.
1:00 PM – 1:30 PM Virtual Room 1: Solving the Puzzle: Effective Project Delivery Selection Processes No one project delivery method is right for every project. Whether a project is airside or landside, vertical or horizontal, it is incumbent on airports to develop and faithfully utilize a robust project delivery method selection processes to ensure that it selects the right delivery method. In this session panelists will draw on their years of experience to discuss best practices for delivery method selection processes, including key factors to consider in relation to potential use of P3 as a delivery tool.
1:00 PM – 1:30 PM Virtual Room 2: The Regulatory Angle: The Latest from FAA on P3s and the Airport Investment Partnership Program Public agencies and private operators have raised questions regarding FAA’s role and in particular the application of Airport Improvement Program Grant Assurances to P3 projects at airports. Attendees will have the opportunity to hear answers to some of these questions, provide feedback, and ask for clarifying details. In addition, the recent FAA Reauthorization Act of 2018 modified the Airport Privatization Pilot Program, renaming it as the Airport Investment Partnership Program and introducing the concept of a joint venture arrangement between the public owner and private operator, among other changes. Our presenters will explore potential structures for privatization transactions where the public sponsor has an ongoing ownership interest and the possible implications for FAA oversight in a dynamic exchange with the audience with the intention of gaining feedback from all attending on the viability of these various joint venture structures.
1:00 PM – 1:30 PM Virtual Room 3: Assessing Fiscal Pressure and Credit Challenges Presenters will discuss the financial and credit impact of the coronavirus outbreak and their related government owners and how it differs from prior recessions and crisis. Did delinquency rates materially increase during the shelter in place orders? Will deferred capital spending increase deferred maintenance costs over the long-term? Will more debt financing be utilized to preserve liquidity?
1:00 PM – 1:30 PM Virtual Room 4: Qualified Opportunity Zones: Explosive New Potential for Airports and the P3 Community The Qualified Opportunity Zones program created in 2017’s Tax Cuts and Jobs Act unlocks new funding mechanisms for investing in large-scale infrastructure development projects around the country, and is a critical tool for scores of projects meant to drive neighborhood revitalization through public-private partnerships. Since Opportunity Zones are designed around communities, infrastructure development will necessarily include related projects both inside and outside these zones and represent the perfect catalyst for public-private partnerships. This panel will look at the Opportunity Zones program and consider some of its most promising applications for the airport sector. Our panelists will answer key questions including: What is the impact on cost of funds? What does an opportunity zone project look like for airports? How will it work within the P3 model? What are the benefits? And how can it impact the need to restore infrastructure for underserved communities?
1:45 PM – 2:15 PM Virtual Room 1: Understanding P3 Best Practices This distinguished panel will focus on best practices and lessons learned drawn from airport and other transportation industry examples. Audience members will hear experienced panelists speak to every stage of the P3 process. Join us for a discussion that will offer guidance, recommendations, and frank talk from private and public sector officials who have led P3 successful collaborations. 1:45 PM – 2:15 PM Virtual Room 2: Picking the Right Advisors and Partners Building a successful procurement and delivering a project demands the right partners. When running a P3 procurement, the public sector project manager may end up spending more time with their advisors than they will with their own family – so it stands that you should pick your advisor carefully. Similarly, when the public sector selects the winning private sector partner for the full lifecycle of a project (which may be over 30 years) - it is like picking a life partner and you should be sure you have picked your private partner carefully and for the long haul. Join us for this candid conversation from both those who have had to make these selections and been part of these partnerships.
1:45 PM – 2:15 PM Virtual Room 3: Innovative Ways to Avoid Construction Disputes – DRBs and Their Application Disputes and claims have been a part of construction projects for many years and oftentimes drag out well after the completion of the project, tying up valuable resources and adding costs. Actively managing the dispute or claim or, even better yet, helping avoid the claim or dispute entirely, saves time and money for all the parties involved. This workshop discusses how Dispute Review Boards (DRBs) have been used by Airport projects and other complex construction projects to reduce and eliminate disputes. By having a DRB start at the beginning of a construction project, the DRB can often help involved parties avoid a dispute by being proactive with the parties in getting issues and disputes resolved while the project is on-going, so at the end of the project there are no remaining disputes. Our presenters will provide best practices for developing DRBs for P3 Projects and other project delivery methods.
1:45 PM – 2:15 PM Virtual Room 4: Creative and Affordable Airport Financing Solutions Workshop Join California Infrastructure and Economic Development Bank (IBank) to discover low-cost financing options for airports participating in P3 projects. The case study workshop will feature Acting Executive Director of the IBank and a regional airport-borrower who will share insights on recent projects, borrower eligibility, how long it takes to receive financing, reimbursable project elements, and much more. Presenters will relate real-life IBank financing experiences of their own unique airport infrastructure projects. Workshop participants will be encouraged to join the discussion, relate challenges they have encountered, and work together to explore financing solutions for needed airport infrastructure projects.
Discussion topics to include: • Unique opportunities for airport infrastructure financing • Preparing for financial review • Preliminary review with technical assistance • Identifying eligible repayment sources, including non-traditional revenue items • Getting approved and funded quickly
2:15 PM – 2:45 PM 30 Minute Break: Virtual Expo Hall Tour / Digital 1 on 1s
2:45 PM – 3:15 PM Virtual Room 1: Do We Search for an Airport Hotel Development Partner, or Build It Ourselves? If an airport wants a hotel, it faces two options: it can either outsource the task to a private developer who absorbs development risk, contributes equity, and raises debt for the hotel project under a ground lease; or the airport can own the hotel, and develop and finance it through the issuance of tax-exempt bonds. This panel will evaluate the pros and cons of each option. In doing so, we will discuss drivers for developing hotels at airports, hotel ground leases, and financing considerations under each of the options.
2:45 PM – 3:15 PM Virtual Room 2: “How Do I Keep a P3?”: Monitoring and Partnership for the Long Term The real work of a public-private partnership lies in the O&M phase – when the public sector must step into the monitoring role, the true test of the partnership begins. This session will focus on this long-term relationship phase with tips and ideas from those who have lived and are still living a P3 agreement.
3:30 PM – 4:00 PM Closing Session: What are the Next Steps. Where to Go from Here? Join industry leaders for an interactive conversation specifically tailored to audience questions and answers about P3s. Attendees will have the opportunity to submit questions in advance and also join in the discussion of the benefits, values, and applications of P3s in an open dialogue.