Introduction to Car Rental Agreement
Rental Car Agreements and Feasibility Study
Fort Lauderdale-Hollywood International Airport
1999 through mid-2001, Leigh Fisher Associates assisted the Broward County Aviation Department (BCAD) in planning a new consolidated rental car facility at Fort LauderdaleHollywood International Airport and negotiating agreements with the rental car companies for periods before and after the new facility is built. Leigh Fisher Associates also prepared a feasibility study for bonds sold in June 2001 to finance the facility. Construction is scheduled to be completed in 2005.
ROM
F
Airline Terminal Rate Base Contingent Rent
Rent (a)
No established limit
CFC
Up to $22 million
Layered Security Structure
The $210 million 7-level joint use facility (expandable to 10 levels) is planned to accommodate consolidated rental car operations on 5 lower levels and public parking on the 2 upper levels. Rental car facilities will include vehicle ready/return, washing, fueling, and storage areas as well as customer service areas and offices. The facility will be located within the terminal complex, and will be connected to the terminals by pedestrian bridges and a common bus system, while preserving the option for a people mover in the future. BCAD allowed all interested rental car companies to participate in negotiations for rental car facilities. Twelve rental car companies, representing 99% of the Airport’s rental car market, signed the agreement. All companies that signed the agreement received counter space in each of the terminals effective August 1, 2000, and pay privilege fees and rent for the counters and any on-Airport ready/return and service center facilities. Each company currently operates its own shuttle buses. After the consolidated rental car facility is completed, on-Airport rental car companies will operate all functions in that facility, and will pay privilege fees, tenant improvement rent, and base rent; collect a Customer Facility Charge (CFC); and be responsible
Fort Lauderdale-Hollywood International Airport
1999 through mid-2001, Leigh Fisher Associates assisted the Broward County Aviation Department (BCAD) in planning a new consolidated rental car facility at Fort LauderdaleHollywood International Airport and negotiating agreements with the rental car companies for periods before and after the new facility is built. Leigh Fisher Associates also prepared a feasibility study for bonds sold in June 2001 to finance the facility. Construction is scheduled to be completed in 2005.
ROM
F
Airline Terminal Rate Base Contingent Rent
Rent (a)
No established limit
CFC
Up to $22 million
Layered Security Structure
The $210 million 7-level joint use facility (expandable to 10 levels) is planned to accommodate consolidated rental car operations on 5 lower levels and public parking on the 2 upper levels. Rental car facilities will include vehicle ready/return, washing, fueling, and storage areas as well as customer service areas and offices. The facility will be located within the terminal complex, and will be connected to the terminals by pedestrian bridges and a common bus system, while preserving the option for a people mover in the future. BCAD allowed all interested rental car companies to participate in negotiations for rental car facilities. Twelve rental car companies, representing 99% of the Airport’s rental car market, signed the agreement. All companies that signed the agreement received counter space in each of the terminals effective August 1, 2000, and pay privilege fees and rent for the counters and any on-Airport ready/return and service center facilities. Each company currently operates its own shuttle buses. After the consolidated rental car facility is completed, on-Airport rental car companies will operate all functions in that facility, and will pay privilege fees, tenant improvement rent, and base rent; collect a Customer Facility Charge (CFC); and be responsible