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`, j <br />of that nature. The next phase of the study involves economic worth and the <br />economic impact the sirpart will have on this community. Considered next was the ,'°°~ <br />criteria and an attempt to select sites. One criteria that was used was the ,~ <br />available wind data. This provided the best orientation of the runway. Twenty <br />sites were chosen using this criteria from which all but six sites were eliminated. <br />These six will be studied further with a recommendation for a final site in the <br />month of June. Two public hearings are scheduled to receive more detailed comment <br />from citizens. After this single site is chasm, should the Board desire to <br />continue with that site and move forward, a grant application will be submitted for <br />the next phase of planning to begin. That phase of planning is the master plan or <br />the written document that describes this airport site, the lay-out plan or the map <br />of this site and then the envixanmental assessment of the site. That will take 9 to <br />12 months or more depending on the complexities that might be encountered. It will <br />then be again reviewed by the Board and a series of public hearings will take place. <br />It will then go to the state clearing house, should the process cantinue, and then <br />to the FAA, the EPA, and the Federal Agencies for review. If that is approved and <br />the Board again decides to continue, there is approximately a 3 to 5 year <br />development scenario far this airport. The price varies greatly according to the <br />site, terrains, and land-cost. The total cost will be roughly $8,500,000. <br />Gary Varga stated that Mr. Larry Rogo from their financial feasibility <br />division is going to present the economic worth study as was presented in the <br />working paper earlier for this airport. <br />harry Rogo talked about the economic impact analysis. This is a complicated <br />and involved series of investigations that are being done by the consultant team at <br />this time. The economic impact study is one of a number of these investigations <br />that will help provide abetter picture about the implications of having an airport, <br />and in some cases to help weigh the choice of one site against another. The m',,, <br />economic impact analysis would hold true no matter which of the sites might ' <br />ultimately be selected for the airport. A preliminary financial analysis showed <br />that the airport might possibly be able to realize a net yearly income of about <br />$50,000 in the early years of operation. That number is a financial number of <br />interest and further investigation will be made of the financial position of the <br />airport, which will depend in part on the site chosen. That number has nothing to <br />do with the economic impact analysis. The economic impact analysis is a measure of <br />the financial transactions which would take place at the airport. It would also <br />involve the operation of a number of businesses at the airport. This would include <br />the fix-base operators who provide various services such as pumping fuel, and <br />maintaining aircraft and aircraft equipment. In addition to that the airport could <br />be expected to be the scene of some activity that might be involved with the <br />business community in Orange County. They might base some aircraft there for <br />corporate use and there would be a number of private citizens who would have their <br />own aircraft there, which they use either for pleasure or business. In addition to <br />that, there would be economic impact generated off the airport property. Visiting <br />aircraft will arrive and they will bring with them passengers who will stay in the <br />Orange County area for either pleasure or business purposes injecting some.maney <br />into the economy by reason of their lodging, food and other expenses. The economic <br />impact study then becomes a measure of the kind of economic transactions that take <br />place as a result of the airport. Wilbur Smith and Associates in undertaking this <br />analysis for the County was guided by a publication of the Federal Aeronautics <br />Administration, entitled "Measuring The Regional Economics Significance of <br />Airports". There is an accepted methodology which has evolved over the past 10 <br />years or so for conducting studies of this type. Basically, there are three kinds <br />of economic impacts that are measured as part of this study. These are the direct <br />impacts which have already been described as taking place usually on the airport and <br />