Client Project Summaries

·         Washington National and Dulles International Airports, Washington, D.C. – MAC is the project manager for the authority overseeing day-to-day activities and any analyses that may arise.  Specifically, we researched and prepared documentation for financial feasibility studies, prepared rates and charges analyses for airline negotiations, and participated in the preparation of airport use and lease agreements.  We also developed a computerized airline rates and charges model and prepared the supporting documentation for implementation and participated in preparing the passenger facility charge application.   

·         Portland International Jetport, Portland, Maine – In 2006, MAC was retained by the Jetport to be the Airport Consultant.  To date, MAC has developed a computerized airline rates and charges model, completed a parking feasibility study, prepared an amendment to the PFC application increasing the collection amount from $3.00 per passenger to $4.50, prepared a new PFC application related to the terminal expansion, participated in negotiations with the airlines, and prepared the feasibility report in relation to a $35 million, $26 million, and $72 million general airport revenue bond issuance.   

·         Indianapolis International Airport, Indianapolis, Indiana – In 2010, MAC was selected to prepare the Letter of the Airport Consultant in conjunction with the issuance of the Series 2010K Bonds.  As part of that assignment we reviewed several financial documents to determine if the financial projections prepared by the authority were consistent with provisions in the airline agreements and bond ordinance. 

·         Port Columbus International Airport, Columbus, Ohio – In 2009, MAC was selected to negotiate and provide financial consulting services in conjunction with a proposed rental car facility at Port Columbus International Airport.  Our services included providing a pro-forma and modeling of expenses, structuring and allocating rents and charges, projecting future needs for such items as additional capital investment, repairs and reserves, activity projections and other items that drive the financial operation of the project at a level necessary upon which to base a long-term contractual relationship with the rental car operators.  

·         Richmond International Airport, Richmond, Virginia – In 2007, MAC was retained by the airport to be the Airport Consultant in relation to the issuance of $51 million in general airport revenue bonds to fund a new parking garage.  MAC’s responsibilities included preparing the financial analysis, writing of the report, providing comments to the other financing documents, and participating in the due diligence and rating agency meetings. 

·         Dallas-Ft. Worth International Airport, Dallas, Texas – MAC was selected to evaluate the economic impact to North Texas of a new service flown by American Airlines and a new service flown by a foreign-flag carrier to several international markets.  Additionally, for each market region, MAC created a generic template so that DFW could recreate the analysis for any new service they consider in the future.   

·         King County International Airport/Boeing Field, Seattle, Washington – MAC was the project manager in charge of preparing the financial analysis to assist in negotiations with a major airline.  We prepared several scenarios, including full cost recovery rate-setting methodology, breakeven or residual rate-setting methodology, and variations on the fixed landing fee.  These scenarios were used to determine the starting point for the negotiations.   

·         AMBAC Insurance, New York – AMBAC insured the bonds that were issued by Delta Air Lines to construct Terminal A at Boston Logan International Airport.  When Delta declared bankruptcy in 2005, AMBAC retained MAC to develop a financial model for Terminal A with the ability to prepare scenarios and assist in analyzing the impacts of this bankruptcy on the security of the bonds.   

·         Metropolitan Oakland International Airport, Oakland, California – MAC was selected to convert the Port’s airline rates and charges model from an actual-based calculation to a budget-based calculation.  Our responsibilities include preparing an analysis that compares and contrasts the two methodologies and report the findings to the Port.   

·         Los Angeles World Airports, Los Angeles California – MAC was selected to prepare an analysis of airline cost per enplanement by airline for Ontario International Airport.  The purpose of the analysis is to provide the airport with by airline cost information to negotiate with them for enhanced air service.   

·         Manchester Airport, Manchester, New Hampshire – MAC was selected to prepare the patterns of air service and airfare levels sections of the airport’s competition plan.   

·         Cincinnati Reds Ballpark, Hamilton County, Cincinnati, Ohio – MAC was the financial task manager for the construction of the Cincinnati Reds Ballpark.  MAC’s responsibilities included the development of a financial plan including projecting cash flows and funding strategies.  In addition, we prepared the financial tables included in the monthly report which tracked budgeted costs to actuals as well as reforecasting project costs at completion. 

·         Fort Washington Way, Cincinnati, Ohio – Julie and Amy were responsible for interviewing several agencies to determine project funding, coordinating documentation to the Ohio Department of Transportation (ODOT) to secure over $80 million in project funding, preparing and updating on a quarterly basis the financial plan, and participating in the preparation of a procurement plan.  In addition, Julie worked with ODOT and the City of Cincinnati, to secure a $20 million State Infrastructure Bank loan and led financial charettes to provide financing concepts for light rail and an intermodal center in connection with Fort Washington Way. 

·         Southwest Ohio Regional Transit Authority, Cincinnati, Ohio - Julie and Amy developed a financial plan for this project which includes projecting cash flows out to year 2037 in support of developing funding strategies to build a light rail system in the region and increase the bus fleet of SORTA and the Transit Authority of Northern Kentucky (TANK). 

·         Dulles Greenway Traffic & Revenue Report, Fairfax, Virginia – In association with PB Consult, MAC managed the development of an annual enplanement forecast and an annual on-airport employee forecast for Washington Dulles International Airport (Dulles).  This forecast was included in a larger report to help determine the benefit/cost of purchasing Dulles Greenway.