[PDF] ACRP REPORT 4. Ground Access to Major Airports by Public Transportation AIRPORT COOPERATIVE RESEARCH PROGRAM

The distribution of funding sources for large- and medium-hub airports nationwide is summarized in Table 7-1. As shown in the table, airport revenue bond proceeds constitute the most significant source of funding, accounting for 58% of total funding for airport capital projects. AIP grants accounted for 21%; PFCs accounted for 11%; and retained earnings and local revenue accounted for 10% of the total.

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Ground Access to Major Airports by Public Transportation

Table 7-1.

Estimated U.S. airport capital sources (5-year annual average, 2000–2004). Funding ($ billions)

Funding (% of total)

Bond Proceeds (“new money” bonds backed by airport revenues, including about 30% of PFC collections)

$ 6.9

58%

AIP Grants

$ 2.4

21%

PFC Collections (approximate 70% share used for pay-as-you-go funding)

$ 1.3

11%

Capital Funding Source

Pay-as-you-go Funding (from retained earnings, state & local grants, other)

$ 1.2

10%

Average Annual Funding

$11.8

100%

SOURCE: Jacobs Consultancy, FAA, U.S. Treasury, Thomson Financial Securities Data, ACI-NA.

Federal Funding and Financial Oversight of Airports and Airport Access Projects In developing any strategy for funding off-airport access projects, it is important to recognize the challenges uniquely associated with each funding source and to identify the external approvals required for each, if any. This summary examines federal funding and financial oversight of airports and focuses specifically on AIP grants, PFCs, and use of airport revenue. AIP Grants The federal AIP provides grants to support eligible capital projects. AIP funds come from the Aviation Trust Fund that is funded by taxes or user fees, including the airline ticket tax, a tax on air-freight waybills, an international departure fee, and a tax on general aviation gasoline and jet fuel. Eligible Access Roads. AIP grants can be used for airport access roads that meet the following conditions as provided in FAA Order 5100.38C, AIP handbook, Paragraph 620.a: • The access road may extend only to the nearest public highway of sufficient capacity to accom-

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