Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: August 15, 2017

Project Name: LaGuardia Airport Terminal B Replacement
Year in Operation: 2022
Sector: Transportation
Subsector: Airport, Transportation Terminal
Status: Design / Construction
Type: New Facility
Description: The LaGuardia Central Terminal project is the portion of the airport replacement project that will replace Terminal B. The new Terminal B will be moved approximately 600 feet closer to Grand Central Parkway, making room for an extensive addition to the taxiways available at the airport. Terminal B will be completely reconstructed, between June 2016 and 2022, while the existing Terminal B continues to operate. The 34 year concession began to run in June, 2016, when the DBFOM concessionaire - LaGuardia Gateway Partners - took over operations at Terminal B. The new Terminal B will include 35-gates, a Great Hall, a new West Garage, related roadways and supporting infrastructure.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: Arrangement is referred to as a PPP and a DBFOM.

Project Locations

Address: Central Terminal Drive
City: East Elmhurst
State: New York
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: 34 year concession beginning on June 1, 2016 and ending in 2050.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Like the International Terminal at JFK (in the late 1990's) Terminal B at LaGuardia includes the assumption of operations by the DBFOM contractor at the time of DBFOM contract award. As the transition is made from existing Terminal B restaurants, shops, and stores to similar establishments in the new Terminal B, the revenue stream is expected to increase. There will be more extensive food, retail, and beverage options for passengers in the new facility.
Checkbox Checked Environmental Clearance

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Arrow Right
Checkbox Checked

Direct Cash Support: $1.5 Billion of the $5.1B financial package ($4 Billion of which is for Design and Construction) will come from the PA of NY and NJ

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: $2.5 Billion in capital was raised through project bonds, which were oversubscribed by a factor of 10 at the time of sale.

Checkbox Checked

From Producers as Equity: $200 million in equity (5% of design & construction cost) is coming from the three principal shareholder in LaGuardia Gateway Partners (the concessionaire): Vantage Airpor Group, Skanska, and Meridiam.

Project Delivery & Finance Method

Project Delivery:
Design Build Operate Maintain (Partially Public Finance). Public Sponsor contracts for initial design, construction, and for long term operations and maintenance with a single entity. At the end of the term, Public Sponsor regains control of the facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals
Design Build Operate and Maintain

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
34
2
Forms
Description
Don't Know
 

Project Value (If and As Known)

Date of Estimated Project Value: January 11, 2017
Project Value
Hard Cost
Hard & Soft Costs
Pre-Feasibility (Public Sponsor Expense)
(none)
> $50 Million US
Design
$100-500 Million US
$100-500 Million US
Construction
$1-5 Billion US
$1-5 Billion US
Total
$2-10 Billion US
$2-10 Billion US

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