Item C01BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
MEETING DATE: 5116/07 DIVISION: COUNTY ADMINISTRATOR
BULK ITEM: YES DEPARTMENT: AIRPORTS
STAFF CONTACT PERSON: Peter Horton
Phone: 292-3518
AGENDA ITEM WORDING: Approval of Fiscal Year 2007 Rates and Charges for the Key West International Airport, to
become effective May 1, 2007.
ITEM BACKGROUND: Newton & Associates has updated the Rates and Charges for the Key West International Airport
as an integral part of the Airports budget process, as required by the Bond Resolution in connection with issuance of the
Series 2006 Variable Rate Revenue Bonds.
PREVIOUS RELEVANT BOCC ACTION: Approval of bond resolution authorizing issuance of Monroe County, Florida
Airport Variable Rate Revenue Bonds, series 2006, June 21, 2006.
CONTRACT/AGREEMENT CHANGES: New Rates & Charges
STAFF RECOMMENDATION: Approval
TOTAL COST: n/a BUDGETED: n/a
COST TO AIRPORT: n/a
COST TO PFC: n/a
COST TO COUNTY:
SOURCE OF FUNDS: n/a
REVENUE PRODUCING: adjusts airport rates AMOUNT PER MONTH NEAR:
APPROVED BY: County Attorney n/a OMB/Purchasing n/a Risk Management n/a
DOCUMENTATION: Included X Not Required
AGENDA ITEM #
DISPOSITION:
/bev
AO
11 /06
bloc & Associalps, lac.
AVIATION INDUSTRY CONSU_TANTS
April 25, 2007
VIA EXPRESS DELIVERY
Ms. Bevette Moore
Airport Operations
Key West International Airport
3491 S. Roosevelt Boulevard
Key West, Florida 33040
Re: FY 2007 Airline Rates and Charges
Key West International Airport
Dear Ms. Moore:
Enclosed is a copy of the Fiscal Year 2007 Airline Rates and Charges ("FY 2007 Rates & Charges") for
the Key West International Airport ("Airport"). The FY 2007 Rates & Charges have been calculated
based on the Airport's budget for Fiscal Year 2007 and in consideration of the covenants of the Bond
Resolution adopted by the County in connection with its issuance of the Series 2006 Variable Rate
Revenue Bonds.
As depicted in the FY 2007 Rates & Charges, the average terminal rental rate will be increased to $56.34
per square foot from $39.83 calculated in Budget Fiscal Year 2006. This increase is primarily
attributable to increases in Airport security expenses and the expiration of security grants received by the
County from the Florida Department of Transportation in Fiscal Year 2007. The airline landing fee rate
is budgeted to decrease to $2.25 from $2.34 calculated in Budget Fiscal Year 2006.
The FY 2007 Rates & Charges were provided to the airlines serving the Airport on March 26, 2007 and a
meeting with the airlines was held at the Airport on April 13, 2007 to discuss the rates and charges and to
give the airlines an opportunity to comment and provide input.
Based on the calculation of the FY 2007 Rates & Charges, the average airline cost per enplaned
passenger will increase from $5.53 in Budget Fiscal Year 2006 to $5.91 in Fiscal Year 2007. However,
we believe that this airline cost per enplaned passenger remains within industry averages for airports of
similar size.
Please don't hesitate to call if you have any questions. We sincerely appreciate the opportunity to assist
you.
Sincerely, In'0,110, 1,L
Michael D. Hill, Jr.
Senior Consultant
Enclosure
cc: Peter Norton — Key West International Airport
Frank C. Newton III - Newton & Associates, Inc.
1806 ROCKY RIVER ROAD 0 CHARLOTTE, NORTH CAROLINA 2B213 • (704) 597-4384 • FAx (704) 597-4385
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SUMMARY:
Airline Terminal Rentals:
Total Terminal Requirement
(Less Checkpoint Security Reimbursements)
Net Terminal Requirement
Airline Terminal Revenue Requirement
Airline Terminal Space
Required Average Rental Rate per Square Ft.
Airline Landing Fees:
Total Airfield Requirement
(Less: G.A. Revenues)
Airline Landing Fee Revenue Required
Estimated Airline Landing Weight (1,000 lb. units)
Estimated Passenger Airline Landed Weight
Passenger Airline Landing Fee Revenue
Airline Landing Fee Rate Requirement
Secuity Checkpoint Reimbursement Charges:
Checkpoint Security Requirement
Estimated Annual Enplanements
Checkpoint Security Fee per Enplanement
Budget Final Budget
FY 2006 FY 2006 FY 2007
1,290, 970
1,454, 069
1,618,571
(259,980)
(229,426)
(268,820)
1,030,990
1,224,43
1,349,751
568,098
630,626
695,050
14,262
12,337
12,337
$39.83
$61.12
$66.34
$915, 898
(134,291)
781,607
333,329
328,701
$770,754
$2.34
$974,161
$918,346
(134,291)
(140,076)
839,870
778,270
333,329
346,626
328,701
338,580
$828,208
$760,204
$2.52
$2.25
259,980
259,980
268,820
327,347
288,875
291,764
$0.79
$0.90
$0.92
Estimated Passenger Airline Revenue $1 698,832
Cost Per Airline Enplaned Passenger $4.63
(Terminal Rent and Landing Fees)
Cost Per Airline Enplaned Passenger $5.63
(Terminal Rent, Landing Fees and TSA Reimbursement Costs)
$1,718,815 $1,724,074
$6.05 $4.99
$5.95 $5.91
Percentage
Change
Budget 06 -
Budget 07
25.4%
3.4%
30.9%
22.3%
-13.5%
41.4%
0.3%
4.3%
•0.4%
4.0%
3.0%
-1.4%
-4.2%
3.4%
-10.9%
16.0%
7.8%
7.6%
6.8%
Newton & Associates,lnc. Page 1
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE A: Airport Operating & Maintenance Expenses
(Page 1) - Budget Comparison
510120
510140
530310
530316
530318
530340
530410
530440
530440
530450
530451
530498
530510
530520
530521
530523
530528
530540
590910
530400
530409
530460
530470
530480
530490
Personal Services
Administrative
Custodial
Maintenance
Engineering
Security
ARFF
Other
Overtime
Adjustment
Total Personal Services
Annual % Change (Bud over Act)
Annual % Change (Bud over Bud)
Contractual Services
Professional Services
Medical Services
Legal Services
Other Contractual Services
Phone & Postage/Freight
Security Services
Less Operating Security Grants
Utility Services
Rentals & Leases
Insurance
Risk Management Charges
Advertising
Total Contractual Services
Annual % Change (Bud over Act)
Annual % Change (Bud over Bud)
Supplies & Materials
Office Supplies
Operating Supplies
Gasoline
Diesel Fuel
Internal Fuel
Books, Pubs, Subs, Educ, Mem
Total Supplies & Materials
Annual % Change (Bud over Act)
Annual % Change (Bud over Bud)
General
County Overhead Allocation
Travel & Per Diem
Vehicle Maintenance Charges
Repairs and Maintenance
Printing and Binding
Promotional Activities
Miscellaneous Expenses
Total General
Annual % Change (Bud over Act)
Annual % Change (Bud over Bud)
TOTAL O&M EXPENSE
Annual % Change (Bud over Act)
Annual % Change (Bud over Bud)
Minor Capital Outlays
Vehicles
Equipment (Contingency)
Other
Subtotal Minor Capital Outlays & Contingency
ADJ. TOTAL O&M EXPENSE
Number of Enplaned Passengers
Total O&M Cost Per Enplaned Passenger
Note: CPI Rate 3.40%
Nawbn 8 Pu�xlN�,lnc.
FY 06 FY 06 FY 07
Budget I Final Bud et
$220,792 $252,269 $304,316
0 $0 0
137,928 $157,592 223.581
0 $0 0
0 $0 0
800,709 $914.861 656,265
25,298 $28,905 26,073
20,000 $58,303 0
1,204,727 $1,411,930 $1,210,235
-14.3%
0.5%
$5,000 $9,429 $5,000
2,475 1,818 2,475
0 0 0
412,657 317.192 441,872
24,289 37,994 25,018
1,337,070 1,660,295 1,748,980
(682,500) (937,025) (839,490)
244,557 325,749 297,600
5,821 8,807 7,821
38,200 49,284 38,200
30,596 38,264 42,659
1,000 0 1,000
$1,419,165 $1,511,807 $1,771,335
17.2%
24.8%
$6,802
$10,662
$7,006
76,995
89,639
79,305
300
104
300
500
0
500
1,806
5.269
1,860
9,543
10,713
8,929
$95,946
_
$116,287
$97,900
-15.8%
2.0%
$126,485 $209,815 $170,000
25,095 18,882 25,847
8,300 12,751 13,879
62,161 109,144 122,161
1,000 51 1,000
0 0 0
500 660 500
$223,541 $351,303 $333,387
-5.1 %
49.1%
$2,943,379 $3,391,328 $3,412,857
0.6%
16.0 %
$184,674
$2,954 $20,900
$0 $184.674
0 0 0
184,674 2,954 205,574
$3,128,053 $3,394,282 $3,618,431
327,347 288,875 291,764
$9.56 $11.75 $12.40
Page 2a
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KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE A: Airport Operating & Maintenance Expenses
IPaae 21 - Budget Allocations
Personal Services
Administrative
$304,316
$152,158
$76,079
$30,432
$45,647
Maintenance
223,581
89,432
44,716
22,368
67,074
Engineering
0
0
0
0
0
ARFF
656,265
82,033
426,572
65,627
82,033
Other
26,073
3,650
13,558
5,215
3,650
Overtime
0
0
0
0
0
Adjustments
0
0
0
0
0
Total Personal Services
$1,210,235
$327,274
$560,925
$123,631
$198,405
Contractual Services
Professional Services
$5,000
$3,000
$500
$750
$750
Medical Services
2,475
1,485
248
371
371
Legal Services
0
0
0
0
0
Other Contractual Services
441,872
165,723
83,459
527
192,163
Phone & Postage/Freight
25,018
15,011
2,502
3,753
3,753
Security Services
1,748,980
1,311,735
174,898
87,449
174,898
Less Operating Security Grants
(839,490)
(629,617)
(83,949)
(41,974)
(83,949)
Utility Services'
297,800
172,407
30,531
8,504
86,358
Rentals & Leases
7,821
4,693
782
1,173
1,173
Insurance
38,200
22,920
3,820
0
11,460
Risk Management Charges
42,659
29,861
0
0
12,798
Advertising
1,000
600
100
150
160
Total Contractual Services
$1,771,335
$1,097,817
$212,891
$60,703
$399,925
Supplies & Materials
Office Supplies
7,006
$4,204
$701
$1,051
$1,051
Operating Supplies
79,305
47,583
7,931
11,896
11,896
Gasoline
300
180
30
45
45
Diesel Fuel
500
300
50
75
75
Internal Fuel
1,860
1,116
186
279
279
Books, Pubs, Subs, Educ, Mem
8,929
5,357
893
1,339
1,339
Total Supplies & Materials
$97,900
$58,740
$9.790
$14,685
$14,685
General
County Overhead Allocation
170.000
$42,500
$42,500
$42,500
$42,500
Travel & Per Diem
25,847
6,462
6,462
6,462
6,462
Vehicle Maintenance Charges
13,879
3,470
3,470
3,470
3,470
Repairs and Maintenance
122,161
30,540
30,540
30,540
30,540
Printing and Binding
1,000
250
250
250
250
Promotions
0
0
0
0
0
Miscellaneous Expenses
500
125
125
125
125
Total General
$333,387
$83,347
$83,347
$83,347
$83,347
TOTAL O&M EXPENSE
$3,412,857
$1,567,177
$866,953
$262,365
$696,362
Minor Capital Outlays/Contingency
$205,574
$51,394
$51,394
$51,394
$51,394
Subtotal
$3,618,431
$1,618,571
$918,346
$333,759
$747,755
Checkpoint Security Direct Bill
(268,820)
(268,820)
n/a
n/a
n/a
ADJ. TOTAL O&M EXPENSE $3.349,611 $1,349,751 $918,346 $333,759 $747,755
Allocated Share of Total Expense 100%, 40% 27% 10% 22%
N-ton & As.«iar.s,inc. Page 3
KEY WEST AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE A: Airport Operating & Maintenance Expenses
(Page 3) - Budget Allocation Percentages
- - - - Cost Center Allocation - - - -
General
Other
Terminal
Airfield
Aviation
Leased
Total
Personal Services
Administrative
50%
25%
10%
15%
100%
Maintenance
40%
20%
10%
3D%
100%
Engineering
80%
10%
5%
5%
100%
ARFF
12.5%
65%
10%
12.5%
100%
Other
14 %
52%
20%
14%
100%
Overtime
27%
43%
13 %
17%
100%
Adjustment
25%
25%
25%
25%
100%
Weighted Average
Contractual Services
Professional Services
Medical Services
Legal Services
Other Contractual Services
Phone & Postage/Freight
Security Services
Less Operating Security Grants
Utility Services
Rentals & Leases
Insurance
Risk Management Charges
Advertising
Weighted Average
27%46% 101/6 161/.
60%
10%
15%
15%
100%
60%
10%
15%
15%
100%
60%
10%
15%
15%
100%
38%
19%
0%
43%
100%
60%
10%
15%
15%
100%
75%
10%
5%
10%
100%
75%
10%
5%
10%
100%
58%
10%
3%
29%
100%
60%
10%
15%
15%
100%
60%
10%
0%
30 %
100%
70%
0%
0%
30%
100%
60%
10%
15%
15%
100%
62%
12%
3%
23%
100%
Supplies & Materials
Office Supplies
60%
10%
15%
15%
100%
Operating Supplies
60%
10%
15%
15%
100%
Gasoline
60%
10%
15%
15%
100%
Diesel Fuel
60%
10%
15%
15%
100%
Internal Fuel
60%
10%
15%
15%
100%
Books, Pubs, Subs, Educ, Mem
600/
100A
15%
15%
100%
Weighted Average
600/
10%
15%
15%
100%
General
County Overhead Allocation
25%
25%
25%
25%
100%
Travel & Per Diem
25%
25%
25%
25%
100%
Vehicle Maintenance Charges
25%
25%
25%
25%
100%
Repairs and Maintenance
25%
25%
25%
25%
100%
Printing and Binding
25%
25%
25%
25%
100%
Promotions
25%
25%
25%
25%
100%
Miscellaneous Expenses
25%
251/6
25%
25%
100%
Weighted Average
25%
25%
25%6
25%
100%
Minor Capital Outlays/Contingency 25% 253/6 25 % 251/6 100%
Total O&M Weighted Average 401/6 27% 100/ 22% 100%
Newton & A:ociat.a ioa Page 4
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE A: Airport Operating & Maintenance Expenses
IPaae 41 - FY 07 Payroll by Function
Functic Position
FTE
Existing
New
Hire
Total
------ Cost Center Allocation ------
General
Terminal Airfield Aviation
Other
Leased
Administration:
Director of Airports
1.00
$120,644
$0
$120,644
$60,322
$30,161
$12,064
$18,097
Sr Administrator Airport Business
0.85
74,003
0
74,003
37,002
18,501
7,400
11,100
Sr. Coord. Airport Grants/Finance
1.00
0
55,351
55,351
27,676
13,838
5,535
8,303
Sr. Office Assistant/Proj Dev Coord.
1.00
0
54,318
54,318
27,159
13,580
5,432
8,148
Subtotal
3.85
$194,647
$109,669
$304,316
V52,158
$76,079
$30,4K
$45,647
Maintenance:
Superintendent - Maintenance
1.00
$64,680
$0
$64,680
$25,872
$12,936
$6,468
$19,404
Sr. Technician - Maintenance
1.00
61,974
0
61,974
24,790
12,395
6,197
18,592
Maint. Worker - Facilities Maint.
1.00
0
44,882
44,882
17,953
8,976
4,488
13,465
Painter
1.00
52,045
0
52,045
20,818
10,409
5,205
15,614
Subtotal
4.00
$178,699
$44,882
$223,581
$89,432
$44,716
$22,358
_
$67,074
Engineering:
Director Facilities Development
0.00
$0
$0
$0
$0
$0
$0
$0
Project Architect
0.00
0
0
0
0
0
0
0
Airport Project Develop Coord.
0.00
0
0_
0
0
0
0
0
Subtotal
0.00
$0
$0
$0
$0
$0
$0
$0
ARFF:
Firefighters - Chief Airport Rescue
1.00
$85,055
$0
$85,055
$10,632
$55,286
$8,506
$10,632
Shift Captain - ARFF
1.00
84,500
0
84,500
10,563
54,925
8,450
10,563
Shift Captain - ARFF
1.00
66,526
0
66,526
8,316
43,242
6,653
8,316
Shift Captain - ARFF
1.00
77,510
0
77,510
9,689
50,382
7,751
9,689
Airport Rescue Fire Fighter
1.00
56,975
0
56,975
7,122
37,034
5,698
7,122
Airport Rescue Fire Fighter
1.00
52,611
0
52,611
6,576
34,197
5,261
6,576
Airport Rescue Fire Fighter
1.00
66,526
0
66,526
8,316
43,242
6,653
8,316
Airport Rescue Fire Fighter
1.00
59,158
0
59,158
7,395
38,453
5,916
7,395
Airport Rescue Fire Fighter
1.00
54,793
0
54,793
6,849
35,615
5,479
6,849
Airport Rescue Fire Fighter
1.00
52,611
0
52,611
6,576
34,197
5,261
6,576
Subtotal
10.00
$656,265
$0
$656,265
$82,033
$426,572
$65,627
$82,033
Other Assistant County Attorney
0.25
$26,073
$0
26,073
$3,650
$13,558
$5.215
$3,650
Total Employees
18.10 $1,055,684
$154,551 $1,210,235
$327,274
$560,925
$123,631
$198,405
Newton & Assoclates,lne. Page 5
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE A: Airport Operating & Maintenance Expenses
(Paste 5) - Pavroll Allocation Percentages
Function Position
----- Cost Center Allocation ------
General Other
Terminal Airfield Aviation Leased
Total
Administration:
Director of Airports
50%
25%
10%
15%
100%
Sr Administrator Airport Business
50%
25%
10%
15%
100%
Sr. Coord. Airport Grants/Finance
50%
25%
10%
15%
100%
Sr. Office Assistant/Proj Dev Coord.
50%
25%
10%
15%
100%
Maintenance:
Superintendent - Maintenance
40%
20%
10%
30%
100%
Sr. Technician - Maintenance
40%
20%
10%
30%
100%
Maint. Worker - Facilities Maint.
40%
20%
10%
30%
100%
Painter
40%
20%
10%
30%
100%
Engineering:
Director Facilities Development
0%
0%
0%
0%
0%
Project Architect
0%
0%
0%
0%
0%
Airport Project Develop Coord.
0%
0%
0%
0%
0%
ARFF:
Firefighters - Chief Airport Rescue
13%
65%
10%
13%
100%
Shift Captain - ARFF
13%
65%
10%
13%
100%
Shift Captain - ARFF
13%
65%
10%
13%
100%
Shift Captain - ARFF
13%
65%
10%
13%
100%
Airport Rescue Fire Fighter
13%
65%
10%
13%
100%
Airport Rescue Fire Fighter
13%
65%
10%
13%
100%
Airport Rescue Fire Fighter
13%
65%
10%
13%
100%
Airport Rescue Fire Fighter
13%
65%
10%
13%
100%
Airport Rescue Fire Fighter
13%
65%
10%
13%
100%
Airport Rescue Fire Fighter
13%
65%
10%
13%
100%
Other Assistant County Attorney
14%
52%
20%
14%
100%
Newton & Assoclates,lnc. Page 6
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE B:
Less Cost Net
Capital Projects:
Runway Strengthening
$0
$0
$0
-$0
5
$0
$0
$0
$0
$0
ARFF Truck
0
0
0
0
5
0
0
0
0
0
Access Road
0
0
0
0
5
0
0
0
0
0
Part 150 Noise
0
0
0
0
5
0
0
0
0
0
Apron Expansion
0
0
0
0
5
0
0
0
0
0
Building Renovations
0 --
0
0
0
5
0_ -
0
0
0
0
Total
$0
$0
$0
$0
$0
$0
$0
$0
$0
Capital Purchases:
Expensed:
Fire Equipment
$0
$0
$0
$0
3
$0
$0
$0
$0
$0
Amortized:
Airport Vehicle
0
0
0
0
5
0
0
0
0
0
Fire Equipment
0
0
0
0
5
0
0
0
0
0
Total
$0 -
$0
- $0 -
- $0
$0 -
$0
- $0
- --$0 -
- $0
Total Projects & Purchases being "Expensed" FY 07 $0 $0__ $0 $0 $0 $0
Total Projects & Purchases to be Amortized beginning in FY 07 $0 $0 $0 $0 $0
Newton & Associates,lnc.
Page 7
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE C: Calculation of Landing Fee
Budget
Final
Budget
FY 2006
FY 2006
FY 2007
AIRFIELD O&M EXPENSE:
Personal Services
$624,999
$693,217
$560,925
Contractual Services
179,250
180,751
212,891
Supplies & Materials
9,595
11,629
9,790
General
55,885
87,826
83,347
Minor Capital Outlays
46,169
738
51,394
Total Airfield O&M Expense
$915,898
$974,161
$918,346
AIRFIELD CAPITAL EXPENSE:
Airfield Amortization
$0
$0
$0
Airfield Capital Expense
0
0
0
Total Airfield Capital Expense
$0
$0
$0
TOTAL AIRFIELD REQUIREMENT:
$915,898
$974,161
$918,346
Less: Estimated General Aviation Revenue*
134,291
134,291
140,076
Net Airfield Requirement
$781,607
$839,870
$778,270
LANDING FEE CALCULATION:
Estimated Passenger Airline Landed Weight (000 Lb. Units)
328,701
328,701
338,580
Estimated Cargo Airline Landed Weight (000 Lb. Units)
_ 4,628
4,628
8,046
Estimated Total Airline Landed Weight (000 Lb. Units)
333,329
333,330
346,626
Airline Landing Fee Rate
$2.3449
$2.5196
$2.2453
(Net Airfield Requirement / Airline Landed Weight)
* Excludes ground rental of new hangar development.
Newton & Associates,lnc. Page 8
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE D: Calculation of Terminal Rental Rates
SUMMARY TERMINAL SPACE: I Rentable Sq. Ft. Sq. Ft.
Airline Space
51 %
12,337
12,337
Concession and Other Rentable Space
27%
6,444
6,444
Public Space
12%
2,927
2,927
Administrative & Support Space
9%
0
2,250
100%
21,708
23,958
Total Terminal Space
Budget Final Budget
FY 2006 FY 2006 FY 2007
TERMINAL O&M EXPENSE:
Personal Services
$274,598
$354,247
$327,274
Contractual Services
856,752
941,485
1,097,817
Supplies & Materials
57,568
69,772
58,740
General
55,885
87,826
83,347
Minor Capital Outlays
46,169
738
51,394
Total Terminal O&M Expense
$1,290,970
$1,454,069
$1,618,571
Less: Direct Billed Security Charge
(259,980)
(229,426)
(268,820)
Net Terminal O&M Requirement
$1,030,990
$1,224,643
$1,349,751
TERMINAL CAPITAL EXPENSE:
Debt Service (Bonds/Notes)
$0
$0
$0
Amortization
0
0
0
Depreciation
0
0
0
Total Terminal Capital Requirement
$0
$0
$0
TERMINAL REQUIREMENT:
$1,030,990
$1,224,643
$1,349,751
TERMINAL RENT CALCULATION:
Terminal Requirement
$1,030,990
$1,224,643
$1,349,751
Total Terminal Space (Sq. Ft.)
25,883
23,958
23,958
Average Terminal Rental Rate Per Square Foot
$39.83
$51.12
$56.34
(Terminal Requirementrrotal Terminal Space)
AIRLINE SPACE RENTAL
Airline Space (Sq. Ft.)
14,262
12,337
12,337
Airline Requirement (Average Terminal Rental Rate times Airline SF)
$568,098
$630,626
$695,050
AIRLINE RATE STRUCTURE
Average Rental Rate - Passenger Terminal Building"
$40.77
$41.77
$56.34
TY 2006 Average Rental Rate included Cape Air Building, which was destroyed in FY 2006.
Newton & Associates,inc. Page 9a
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE D (Page 2): Calculation of Airline Terminal Class Rentals
Equivalent
Total
Terminal
Relative
Class I
Airline
Category of Space
Space
Value
Space
Space
Ticket Counter
2,481
100%
2,481
2,481
Office Space
1,978
80%
1,582
1,978
Second Floor Office
0
70%
0
0
Storage
0
50%
0
0
Covered Space
2,831
50%
1,416
2,831
Covered Space - Common Use
325
50%
163
325
Hold Room
3,226
100%
3,226
3,226
Baggage Claim
1,496
100%
1,496
1,496
Total
12,337
10,363
12,337
Average Rental Rate per Square Foot Per Annum
$67.07
$56.34
Calculation of Class I Rate:
Equivalent Class I Rental Required
$695,050
$695,050
Equivalent Class I Space
10,363
Required Class I Rate (Per Sq. Ft.)
$67.07
Rate Structure:
Average Rental Rate
$56.34
Rental
Relative
Revenue by
Rental Rates - By Class Type
Rate
Value
Space Type
Ticket Counter
$67.07
100%
$166,395
Office Space
$53.65
80%
106,128
Second Floor Office
$46.95
70%
0
Storage
$33.53
50%
0
Covered Space
$33.53
50%
94,934
Covered Space -Common Use
$33.53
50%
10,899
Hold Room
$67.07
100%
216,361
Baggage Claim
$67.07
100%
100,333
$695,050
Newton & Associates,lnc. Page 9b
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE D (Page 3): Calculation of Airline Terminal Rental Amoun
Airline Space:
Ticket
Office 2nd Floor
Storage Covered Hold Bag
Total
Space Classification
Counter
Space Space
Space Area Room Claim
Space
Rental Rates
$67.07
$53.65 $46.95
$33.53 $33.53 $67.07 $67.07
Airline Terminal Building:
American Eagle
886
532 -
- 196 - -
1,614
Continental Connection
667
482 -
- 868 - -
2,017
Delta Connection
464
455 -
- 558 - -
1,477
USAirways Express
464
509 -
- 1,209 - -
2,182
Subtotal 2,481 1,978 - - 2,831 0 - 7,290
Non -Exclusive Space:
Hold Room - - - - - 3,226 -
Baggage Claim Area - - - 325 - 1,496
Total Airline Space 2,481 1,978 - - 3,156 3,226 1,496
Rental Amount:
American Continental Delta USAirways Common Total
Eagle Connection Connection Express Use Amount
Airline Space
Ticket Counter $59,422 $44,734 $31,119 $31,119 -
$166,395
Office Space 28,544 25,861 24,413 27,310 -
106,128
Second Floor Space - - - - -
0
Storage - - - - -
0
Covered Space 6,573 29,107 18,712 40,542 -
94,934
Annual Rental $94,539 $99,703 $74,244 $98,972 - $367,458
Common Use Space - - - - 327,593 327,593
Total Annual Rental $94,539 $99,703 _ $74,244 $98,972 $327,593 $695,050
Est. Monthly Rental $7,878 $8,309 $6,187 $8,248 $27,299 $57,921
3,226
1.821
12,337
Newton & Assodates,lnc. Page 9c
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
SCHEDULE D (Page 4): Space Reconciliation Summary
Available Space:
Other Departure Covered
Ticketing Office Rentable Lounge Bag Claim Area All Other Total
Passenger Terminal Building:
First Level 2,276 2,023 4,323 1,890 1,524 3,112 4,420 19,568
Second Level 0 0 2,234 0 0 0 2,156 4,390
Total Space 2,276 2,023 6,557 1,890 1,524 3,112 6,576 23,958
Space Breakdown by Use:
American Continental Delta US Common Total
Eagle Connection Connection Airways Use
Airline Space:
Ticket Counter
886
667
464
464
0
2,481
Office Space
532
482
455
509
0
1,978
Second Floor Space
0
0
0
0
0
0
Storage
0
0
0
0
0
0
Covered Space
196
868
558
1,209
0
2,831
Covered Space-CUA
325
325
Departure Room
3,226
3,226
Baggage Claim
1,496
1,496
Airline Totals 1,614 2,017 1,477 2,182 5,047 12,337
Concessions and Other Rentable Space:
Car Rental 964
Gift Shop 361
Restaurant 2,998
Second Floor Rentable Space 2,121 6,444
Public Space
Support Space:
Airport Offices
Other
Total Terminal Building Space
2,927
1,898
352 2,250
23,958
Newton & Associates,lnc. Page 9d
KEY WEST INTERNATIONAL AIRPORT
FY 2007 AIRLINE RATES & CHARGES
NEW FY 2007 RATES
KEY WEST INTERNATIONAL AIRPORT
TERMINAL RENT
Airlines
Publicly Exposed Space
Nonpublic Office Space
Second Floor Office
Covered Areas & Storage
Concessions (All Space)
Car Rental
Gift Shop
Restaurant
UTILITIES - Electric, Water, Sewer, Trash Removal
(Included in the rental rate)
LANDING FEE
Rate per Thousand Pounds of Gross Landing Weight
EYW SECURITY CHECKPOINT REIMBURSEMENT CHARGES
Per Enplaned Passenger
Cost: $268,820 Enpl. Pax: 291,764
OTHER TSA MANDATED SECURITY CHARGES
Per Enplaned Passenger
Cost: undetermined Enpl.Pax: 291,764
RON CHARGES
For each aircraft in excess of 3 parked overnight at the
Passenger Terminal Ramp
For aircraft with more than 13 seats
For aircraft with 13 or less seats
FUEL FLOW FEES (per Gallon Delivered)
LAND RENTAL RATES
Aviation Use Property
Hangar Rental Rate
Non -Aviation Use Property
County Leased Property
FIS Building Space
Per Square Foot Rental Rate per Annum
New Rates
$67.07
$53.65
$46.95
$33.53
$67.07
$67.07
$67.07
$2.25
$0.92
n/a
$25.85
$12.93
$0.06
$0.75
$1.84
By Appraisal
$1.35
$56.34
Newton S Associates,inc. Page 10
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To: Board of County Commissioners
From: Peter Horton, Director of Airports
Date: 5/16/07
Re: Agenda Item - Rates & Charges
This item requests County Commission approval of Fiscal Year 2007 Rates and
Charges for the Key West International Airport, to become effective May 1,
2007
Newton & Associates has updated the Rates and Charges for the Key West
International Airport, as an integral part of the Airports budget process
as required by the Bond Resolution in connection with issuance of the
Series 2006 Variable Rate Revenue Bonds.
On June 21, 2006, the Commission previously approved resolution
authorizing issuance of Monroe County, Florida Airport Variable Rate
Revenue Bonds.
PJH/bev