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APPENDIX II: PRELIMINARY AIRPORT ASSESSMENT <br />AIRPORT OVERVIEW <br /> <br />Airport Strategic Business Plan, 07/26/2021 22 <br />PRIVATE CAPITAL FUNDING SOURCES <br /> Company Donations: While less common, private donations <br />may also be a source of funding. Donations can be used as <br />matching funds to help secure a grant or as capital for projects, <br />vehicles, equipment, tools, and materials that may not be eligible <br />under federal and state grant programs. Wealthy families with ties to Bowers Field <br />are also a potential source of donations. For example, a local businesswoman <br />offered to donate $10,000 to the Norwalk-Huron County Airport in Norwalk, Ohio, <br />to be used as matching funds to help secure an AIP grant. In North Carolina, <br />businesses benefiting from the presence of the Raleigh Executive Jetport at <br />Sanford-Lee County donated money to furnish and decorate rooms in a new <br />general aviation terminal building. A plaque in each room acknowledges the <br />donation and recognizes each contributor. In all cases, the challenge will be to <br />define an airport-related project that is meaningful to the company or family. These <br />sources, unlikely to be a sole source for major capital improvements, could, <br />however, support smaller projects. <br /> Public-Private Partnerships (P3s): P3s take many forms. A common example <br />involves a private operator bidding for control of certain assets of a public <br />enterprise. The bidder calculates a net present value for the assets to be acquired <br />and enters a long-term lease with the public enterprise (e.g., the airport sponsor). <br />The lease term must be sufficiently long to allow the bidder to amortize the upfront <br />payment in full and enjoy a reasonable rate of return. Due to the reliability of the <br />cash flow and the more favorable rates of return, P3s have become popular with <br />pension and insurance funds. Sponsor grants a private entity the right to design, <br />build, maintain, operate, or finance buildings or infrastructure. Many options exist <br />regarding division of responsibilities for construction, financing, management, and <br />payment to the sponsor who maintains ownership of the particular asset. <br />INDUSTRIAL PARK FUNDING SOURCES <br />In addition to private capital and private funding sources the following funding sources <br />are specific to Industrial Parks in Washington. <br /> Asset America – Assets America provides commercial <br />construction loans and other industrial real estate loans for <br />industrial parks, industrial buildings, industrial showrooms, data centers, R&D <br />buildings, cold-storage buildings, laboratories, warehouses, distribution centers, <br />plants, and other industrial properties. <br /> Washington State’s Community Economic Revitalization Board (CERB) – funding is <br />a state capital source that provides funding to local governments and federally- recognized <br />tribes for public infrastructure which supports private business growth and expansion.