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1.. w Y <br /> 6 <br /> Bond amount that can be supported by $95,000, halfwa fi <br /> $54,900 and $135.100 , assuming a 15 year payout Y dutn between <br /> interest rate. period and a 6% <br /> $922,600 <br /> Conclusions From Demand Revenue Costs Section <br /> The Task Force has not attempted to prepare a detailed and specific <br /> analysis of Orange County's airport demand and revenue prospects. <br /> Rather, it has demonstrated that the potential demand for an airport <br /> in Orange County is large and can be capitalized upon for airport <br /> construction and operation purposes. <br /> There are 83 general aviation aircraft today registered to Orange <br /> County owners. There are 124 general aviation aircraft registered to <br /> Durham County owners. Some portion of these can be the base for a <br /> new general aviation airport in Orange County. <br /> Given the assumptions in this section, there would be revenues <br /> initially for construction, after funds for operation, maintenance <br /> and improvements have been set aside, of about $55,000. This amount <br /> is not enough to cover the 15 year bond requirements for a county <br /> $1,000, 000 share of a $5, 000,000 construction project. <br /> The $55;000 is not a fixed and final figure, however, around which <br /> all decisions must revolve. There are several modifying consid- <br /> erations. For example: <br /> 1. Should the assumption that only 50% of the Orange <br /> County registered aircraft would use a good and <br /> convenient Orange County airport be increased, perhaps <br /> to 75%. What about the Durham County use assumptions? <br /> 2. Is it necessary to rule out federal aid? The federal <br /> airport aid program exists and does help some North <br /> Carolina airports. <br /> 3. Is it necessary to base bond financing projections on <br /> only the revenues from the initial years' operations? <br /> 4. Should the bond issue term be increased to 20 years? <br /> 5. Does a new airport need to be built to ultimate <br /> capacity initially? Certainly all the land required for <br /> ultimate capacity should be acquired initially, but is <br /> the ultimate required in the beginning for the actual <br /> facilities? Could the $5, 000, 000 assumed in this report <br /> be staged? <br /> The Task Force notes that the County in developing an airport <br /> should make a firm financial commitment and operate the airport as a <br /> productive business operation. (See John Brantley's August 27, 1987 <br /> letter, Appendix B. ) <br />