$70.5 Million PFC Application Approved at Louis Armstrong New Orleans International Airport
On January 12th, the Federal Aviation Administration (FAA) approved Louis Armstrong New Orleans International Airport’s recent application for Passenger Facility Charge authority to fund eight new projects totaling $70.5 million. The projects include crucial upgrades to both the terminal and airfield, enabling the airport to meet present and future capacity, safety, and security demands. TMG Consulting has prepared Armstrong’s PFC applications and amendments—ten and counting—since the enactment of the legislation in 1991. We have also drafted numerous applications and amendments for other airport clients including Baltimore Washington International and Richmond International. TMG also prepared for Armstrong the first application ever to be approved by the FAA for bond financing secured by PFC revenue.
TMG is helping Armstrong move forward with a $500 million capital program to be completed in time for New Orleans’ hosting of the 2013 Super Bowl. This program includes airside work to rehabilitate almost four million square feet of airfield apron, pave and improve 4,100 feet of unpaved perimeter road, extend a Category IV taxiway to a perpendicular runway, and relocation and improvement of an airfield lighting vault. We were lead consultant on the $100 million Consolidated Rental Car Facility beginning construction this year. The project is financed by rental car customer fees and is the first facility of its kind to be financed by tax-free Gulf Opportunity Zone Bond financing. TMG is leading work to develop an airport hotel at Armstrong, to expand the Long Term Parking Garage, and to program and fund $100 million of terminal development projects, including an expansion that doubles the capacity of Concourse D, the consolidation of the concession and security checkpoints, and the construction of a new, single-carrier concourse for Southwest Airlines.
While the aforementioned projects will showcase Armstrong and make a bold statement, TMG Consulting is also working behind the scenes to improve the airport by developing and assembling funding strategies and resources, customizing service procurements such as new, more efficient janitorial services, coordinating and implementing the airport’s Job Order Contract system to speed maintenance and capital repairs, as well as pre-packaged construction task procurement.