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Airport Funding - Assignment Example

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After some brief introductory statements it will look at AIP federal grants and passenger facility charge (PFC). This will be followed by an explanation of the uniform land use review procedures (ULURP), and a…
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Airport Funding
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Airport Funding

Download file to see previous pages... Airport improvement program (AIP) is one such means of obtaining grants. These federal grants have a series of guidelines and requirements to be met in order to qualify for the grants. In the later sections this paper will focus on the uniform land use review process (ULURP) and how it affects the two airports located in Queens.
Federal AIP Grants are issued to airports that are on the NIAS list of significant airports throughout the United States and its holdings. These grants are issued to make infrastructure improvements, aid in noise compliance, provide for safety and security. Not all capitol improvements will meet the requirements for the AIP money. The grant funds come from a trust fund that congress set up to meet the needs of the AIP grants in conjunction with meeting the goals of the national integrated airport system. Since the grants pay for a portion of the project cost based on size of airport, the airport sponsor or private entity applying for a grant has to demonstrate that there are monies to pay for the difference between the grant funds and the full cost of the project. In recent years further legislation has added taxes to airport ticket purchases for the purpose of supporting the trust fund.
The AIP has a provision for airports to gain additional funding towards approved projects by imposing a charge on passengers that is used to offset financing of major capitol improvements for infrastructure, noise reduction and provide for safety and security. The original code provided for one two or three dollars to be added to the ticket cost. The current code allows for up to four dollars and fifty cents ($4.50) to be added to ticket price for the purpose of financing approved projects. This will also reduce the amount of grant money received for the projects. (faa.gov)
The uniform land use review procedure is a process by which the city government and general public has input into ...Download file to see next pagesRead More
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