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<br />activity. As more aircraft base at the <br />airport, additional revenues for hangar <br />rent and fuel sales will increase <br />proportionately. Revenues will also be <br />bolstered by transient aircraft activity <br />with increased hangar and fuel fees. <br /> <br />Future revenue projections considered <br />slightly increasing current fee rates for <br />existing hangar and ground leases. <br />New hangar ground leases will need to <br />be established in such a manner that <br />the city will be capable of adjusting <br />costs as needed to keep pace with the <br />CPr. <br /> <br />Obviously, if the city does not fund the <br />construction of new facilities, costs of <br />developing new hangars will be <br />significantly lower than if the city paid <br />for construction. If the city does not <br />construct the proposed hangar facilities, <br />the city's only capital cost would be 10 <br />percent ofthe taxilane construction (the <br />remaining 90 percent would come from <br />federal or state grants). The city has <br />allowed the development of privately <br />owned hangars in the past. Privately <br />owned facilities offer the city significant <br />savIngs. <br /> <br />Assuming that the city does not <br />construct the T-hangars, but simply <br />leases the land to private developers, <br />future ground lease rates for the <br />proposed ultimate T-hangar develop- <br />ment depicted on the airport layout <br />drawing (ALD) could provide an <br />additional $12,000 annually by the <br />intermediate term of the planning <br />period, and nearly $50,000 annually by <br />the end of the long term planning <br />horizon. <br /> <br />6-11 <br /> <br />Future proposed hangar development <br />includes the construction of executive <br />and conventional/corporate hangars on <br />the northwest side ofthe airport. These <br />hangars could house corporate aircraft <br />and additional FBO type businesses. <br />Thus, lease receipts may increase as <br />much as $32,500 annually, dependant <br />upon the number of new businesses <br />attracted to the airport. In addition, <br />the commercial/industrial parcels on the <br />north side of the airport could bring <br />nearly $1 million annually. This figure <br />is dependant on the entire area being <br />fully developed. For planning purposes, <br />50% development was assumed. <br /> <br />Future revenue projections indicate <br />that future revenues will annually rise <br />at a greater rate than expenses. <br />Analysis presented in Table 6C <br />indicate that the City will be capable of <br />obtaining sufficient operating revenues <br />to offset expenses. Future revenue and <br />expense projections have been made for <br />the next five years and for the end of <br />the intermediate and long term <br />horizons. Thus, each planning horizon <br />considers the facilities and services <br />required to meet demand requirements. <br />As shown on Table 6D, revenues will <br />begin to outpace expenses by a <br />significant margin in the long term. By <br />fully developing the north aviation area, <br />between the ends of Runway 17-35 and <br />12-30 the airport may become self- <br />sufficient. In fact, by the end of the <br />long term planning horizon, revenues <br />will outpace expenditures by over <br />$500,000 annually. This number may <br />change depending upon the actual <br />growth in based aircraft, total <br />operations at the airport, and the <br />