What did Team Arnie B. Green Associates, Inc. propose to the City of Ormond Beach in response to the city request for proposal (RFP)?
Our development team was the only one to respond to the request, proposing a $70 million project in which we presented economic impact studies following respected FAA methods predicting the addition of over 1800 local jobs, $115 million in local production, and an additional $3 million in tax revenue.
What did Team Arnie B. Green Associates, Inc. proposal include?
The proposal includes a state-of-the-art general aviation passenger terminal which would provide a multitude of aviation services to local and visiting private and business aircraft.
In addition, an array of new hangars, robust maintenance shops and an aviation themed restaurant would be constructed.
Why does Team Arnie B. Green Associates, Inc. need a lease before obtaining financing?
It's like when you go to buy a house. You can't get a loan unless you have a sales agreement.
Just as you can't get a loan without a sales agreement, legally we can't ask our investors to invest and get actual construction money before we have a contract. Classic chicken before the egg.
Eventually our investors will put in $21 million (30%) into the project, while the remaining $49 million (70%) will come from other traditional funding sources once we have a contract or in this case a lease on the vacant land.
Does Team Arnie B. Green Associates, Inc. Financial Team need to raise the full projected $70 million build-out cost initially before starting construction of Phase I of the development Project?
Our financial projections and planned financial structure will not need to raise the full projected capital amount - $70 million - in the projects initial capital development phase.
Since construction will be in stages, the Team has compiled detailed financial projections to determine the amount of funding initially necessary, and as the project progresses in development and execution.
Our development team was the only one to respond to the request, proposing a $70 million project in which we presented economic impact studies following respected FAA methods predicting the addition of over 1800 local jobs, $115 million in local production, and an additional $3 million in tax revenue.
What did Team Arnie B. Green Associates, Inc. proposal include?
The proposal includes a state-of-the-art general aviation passenger terminal which would provide a multitude of aviation services to local and visiting private and business aircraft.
In addition, an array of new hangars, robust maintenance shops and an aviation themed restaurant would be constructed.
Why does Team Arnie B. Green Associates, Inc. need a lease before obtaining financing?
It's like when you go to buy a house. You can't get a loan unless you have a sales agreement.
Just as you can't get a loan without a sales agreement, legally we can't ask our investors to invest and get actual construction money before we have a contract. Classic chicken before the egg.
Eventually our investors will put in $21 million (30%) into the project, while the remaining $49 million (70%) will come from other traditional funding sources once we have a contract or in this case a lease on the vacant land.
Does Team Arnie B. Green Associates, Inc. Financial Team need to raise the full projected $70 million build-out cost initially before starting construction of Phase I of the development Project?
Our financial projections and planned financial structure will not need to raise the full projected capital amount - $70 million - in the projects initial capital development phase.
Since construction will be in stages, the Team has compiled detailed financial projections to determine the amount of funding initially necessary, and as the project progresses in development and execution.
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QUESTIONS AND ANSWERS
$70 Million in New Investment
$382 Million 20-Year Impact to Ormond Beach
1800 20-Year Total New Job Effect to Region
$2.0 Million New State & Local Taxes Upon Completion of First Year of Operations
Robust Operations Facility - Not Just Aircraft Storage Hangars
800 Years Total Airport
Development, Engineering & Aviation Team Experience
100+ Years Total Military Command, Control, Operational, Flight & Ground Experience
Robust Aircraft Noise Abatement Program
Protects City from Financial Risk and Liability
No Ormond Beach Funds Required for Financing of Development
$382 Million 20-Year Impact to Ormond Beach
1800 20-Year Total New Job Effect to Region
$2.0 Million New State & Local Taxes Upon Completion of First Year of Operations
Robust Operations Facility - Not Just Aircraft Storage Hangars
800 Years Total Airport
Development, Engineering & Aviation Team Experience
100+ Years Total Military Command, Control, Operational, Flight & Ground Experience
Robust Aircraft Noise Abatement Program
Protects City from Financial Risk and Liability
No Ormond Beach Funds Required for Financing of Development
