Wednesday, October 21, 2009

Board picks Chicago firm to guide airport funding

Ricondo & Associates won out over 2 other finalists


By PAT MURPHY
Express Staff Writer

One more step was taken last week in the march toward relocating Friedman Memorial Airport in Hailey. Photo by Mountain Express

A Chicago firm considered to be a leader in the field of advising airports on financing has been selected to develop a funding scenario for Friedman Memorial Airport's $100 million-plus replacement facility.

Ricondo & Associates won out over two other finalists—Jacobs Consultancy of Burlingame, Calif., and Leibowitz & Horton of Denver—after some three hours of presentations and questions from members of the Friedman Memorial Airport Authority last Friday, Oct. 16. The governing board then adjourned into executive session for another three-plus hours before announcing the selection of Ricondo.

Yet to be worked out is Ricondo's scope of work and the consulting fee.

In its presentation to the airport authority, Ricondo Vice President and project Manager Geoff Wheeler cited a history of projects for 200 airports involving virtually every aspect of developing financing. Clients have involved mega airports—Los Angeles International, Chicago's O'Hare International, New York's JFK, Denver International, Miami International and others—as well as medium and small airports such as Boise's Gowen Field and the Yuma, Ariz., airport.

Coincidentally, one Ricondo airport project, the Northwest Arkansas Regional Airport, bears similarities to the Friedman circumstances—the need to relocate because of terrain, flight diversions and cancellations, and airport size. After its first year of full operation in 1999 on its 2,100-acre site with two 8,000-foot runways, the Arkansas field is served by five airlines with direct routes to 11 cities coast-to-coast. In the first year, it beat forecasts of passenger numbers by 40 percent—instead of 200,000 enplaned, the airport handled 330,000 passengers.

Only three public questions submitted in writing were asked of Ricondo—by Ketchum City Councilman Charles Conn (about concerns for general aviation at a new airport), by real estate executive Dick Fenton (about minimum revenue guarantees for airlines if passenger volume falls short) and Sun Valley City Councilman Nils Ribi (about bonding choices).

Wheeler and one of his associates, Rick Janisse, said general aviation pilots flock to the new Arkansas airport because of its modern new facilities and navigation aids. Janisse didn't discount minimum revenue guarantees, but suggested a future airline for a new airport here might be Allegiant, a highly profitable jet-equipped carrier that serves 55 cities in 30 states and attracts passengers from as far away as 140 miles at some departure airports because of sharply discounted fares and extensive routes, including major resort destinations.

"We are aware that building a new airport doesn't happen too often," airport authority Chair Tom Bowman said after the meeting. "We attracted the attention of the best firms in the country, the best in the world, really. The Ricondo team, with their depth of experience, barely edged out the other two finalists who would've been excellent choices as well."

In a brief interview, Wheeler said Ricondo was "very pleased" to win the assignment.




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