Airport Business - 20

COVER STORY
AUTHOR Joe Petrie

Port Authority embraces P3
development for Newark's
new ConRAC facility.
AUTHOR Joe Petrie

THE PORT Authority of New York and
New Jersey is utilizing a P3 program
to build a new consolidated renta-car facility (ConRAC) at Newark
Liberty International Airport (EWR).
The new ConRac will be located
next to the new Terminal One at EWR.
The facility will include a six-story
parking structure of mixed parking and
rental car operations. It will have 3,369
facility parking spaces and is designed
for potential growth.

The Port Authority of New York
and New Jersey started talking to rental
car companies several years ago about
building a new consolidated facility
at EWR. The authority was looking
to the rental car companies to lead
on the project both from the design-

20 \ AIRPORTBUSINESS / AUGUST | SEPTEMBER 2020

build standpoint and the finance and
operations point of view.
Dan Pine managing principal of CS
Capital, part of Conrac Solutions said
the agreement allows access to different
markets for debt, which allows a more
efficient financing method, which
allows for lower capitalized interest.
It has a lower debt ratio and allows
customer facilities charges (CFC) to
be lower.
"Ultimately, the airport will control
every facet of the project through the
execution of a lease agreement with the
project company," he said.
Under the terms of the 35-year
lease of the facility, the CFCs escalate



Airport Business

Table of Contents for the Digital Edition of Airport Business

Inside the Fence: Statistically Speaking...
Industry Update
The FBO Customer Experience Beyond COVID-19
Switching Seats: COVID-19's Impact on the Terminal
Data Security and Privacy at Commercial Airports
A Private Affair
Creating Quality Customer Service
Designing the 'Airport of the Future'
Will Peer-to-Peer Car Sharing be the Next Disruptor?
An Airport Takes Off
Totally Boggus: Clearing the Air
Proactive Technology Strategies for Airlines to Succeed Post COVID-19
Looking to Upgrade Your Sustainability Practices? Ask These Questions First
Product Profile: Runway Reliability - Stable Soils Make the Difference
Airport Business - 1
Airport Business - 2
Airport Business - 3
Airport Business - 4
Airport Business - 5
Airport Business - Inside the Fence: Statistically Speaking...
Airport Business - 7
Airport Business - Industry Update
Airport Business - 9
Airport Business - The FBO Customer Experience Beyond COVID-19
Airport Business - 11
Airport Business - Switching Seats: COVID-19's Impact on the Terminal
Airport Business - 13
Airport Business - 14
Airport Business - 15
Airport Business - 16
Airport Business - 17
Airport Business - Data Security and Privacy at Commercial Airports
Airport Business - 19
Airport Business - A Private Affair
Airport Business - 21
Airport Business - 22
Airport Business - 23
Airport Business - 24
Airport Business - 25
Airport Business - Creating Quality Customer Service
Airport Business - 27
Airport Business - Designing the 'Airport of the Future'
Airport Business - 29
Airport Business - Will Peer-to-Peer Car Sharing be the Next Disruptor?
Airport Business - 31
Airport Business - An Airport Takes Off
Airport Business - 33
Airport Business - 34
Airport Business - Totally Boggus: Clearing the Air
Airport Business - Proactive Technology Strategies for Airlines to Succeed Post COVID-19
Airport Business - 37
Airport Business - Looking to Upgrade Your Sustainability Practices? Ask These Questions First
Airport Business - 39
Airport Business - Product Profile: Runway Reliability - Stable Soils Make the Difference
Airport Business - 41
Airport Business - 42
Airport Business - 43
Airport Business - 44
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