210318 Airport Advisory Committee AgendaThe Corporation of the Town of Tillsonburg
Tillsonburg Airport Advisory Committee
March 18th, 2021
5:30 p.m.
Electronic Meeting
AGENDA
1. Call to Order
2. Adoption of Agenda
Proposed Resolution #1
Moved by: Seconded by:
THAT the Agenda as prepared for the Tillsonburg Airport Advisory Committee
meeting of March 18, 2021, be adopted.
3. Minutes of the Previous Meeting
Proposed Resolution #2
Moved by: Seconded by:
THAT the Minutes of the Tillsonburg Airport Advisory Committee meeting dated
February 18, 2021, be approved.
4. Disclosures of Pecuniary Interest and the General Nature Thereof
5. Presentations/Deputations
Airport Master Plan Update
6. General Business & Reports
6.1 Hangar Updates – Dan
6.2 Safety Spreadsheet – Dan
6.3 Sign on Hwy 19 – Dan
7. Correspondence
8. Other Business
9. Next Meeting – April 15th, 2021
10. Adjournment
Proposed Resolution #3
Moved by: Seconded by:
THAT the March 18th, 2021 Tillsonburg Airport Advisory Committee meeting be
adjourned at _____ p.m.
The Corporation of the Town of Tillsonburg
TILLSONBURG AIRPORT ADVISORY COMMITTEE
February 18, 2021
5:30 p.m.
Electronic Meeting
MINUTES
ATTENDANCE
Euclid Benoit, Dan Cameron, Valerie Durston, Deb Gilvesy, Mark Renaud, David Brandon, Euclid Benoit
Absent: Jeff Miller, Jeff Dean
Staff: Dan Locke, Carlos Reyes
MEMBERS ABSENT/REGRETS
None
1. Call to Order
The meeting was called to order at 5:30 p.m. Mark Renaud sat as the Chair for the meeting.
2. Adoption of Agenda
Resolution #1
Moved By: Deb Gilvesy Seconded By: Dan Cameron
THAT the Agenda as amended for the Tillsonburg Airport Advisory Committee meeting of
February 18, 2021 be adopted.
Carried
3. Disclosures of Pecuniary Interest and the General Nature Thereof
None Declared
4. Adoption of Minutes of Previous Meeting
Resolution #2
Moved By: Dan Cameron Seconded By: Euclid Benoit
THAT the Minutes of the Tillsonburg Airport Advisory Committee Meeting of January 21, 2021,
be approved.
Carried
5. Delegations and Presentations
Tillsonburg Airport Advisory Committee Meeting Minutes, February 18, 2021 - 2 -
None
6. General Business & Reports
6.1. New Hangar Update - Dan Locke reported that the two hangar have had no progress since the last
meeting due to the restriction put in place for Covid. The two hangar are G1 Lot 5 and G3 Lots 1 & 2.
The applicant for the G1 Lot #6 Hangar has reconsider and will not be moving forward with his
application.
David Brandon asked how many hangar lots are currently available - Dan inform 3 lots are available
Dan Cameron asked if hydro was available to the G1 lots # 5,6,7 – Dan stated that hydro was identified
as available for the lots on G1 however the last tenant that applied for hydro conveyed that there are no
more services available off the transformer. Dan to check with ERTH who provided the information
regarding the available services.
Dan Cameron asked about an updated Drainage plan – Carlos commented that the Master plan includes
the drainage plans and that they are being worked on and will be brought to TAAC committee.
6.2. Safety Spreadsheet Follow-up – Dan presented the two reported issues using the Datastudio report.
6.3. Website – Dan Locke commented that the workshop with Committee, in the first Quarter of 2021,
Annette was to lead this initiative. This has been deferred to the second quarter.
6.4. Covid Closure Update – Dan provided an update to the committee that the airport is open. The terminal
building is open and the washroom remains open and the Café closed and the Flight School is flying but
not doing Ground School until the Province move our area to orange. Staff are on site daily from 8:30am
- 4:30pm .
6.5. Airport Master Plan Update – Dan provide the committee with an update that a draft report would be
coming to them for comment. Project is on track despite the Covid closure. One piece that has not
happened is the inspection of each Hangar by the Environmental representatives. This will be done to
the best of their abilities on Feb 23.
6.6. Hangar identification in Emergency situations – Deb commented that she has had inquiries on how the
hangars are numbered how would anyone find the hangar locations during emergencies.
6.7. Alternative funding mechanisms not identified in the 2021 approved budget – Mark brought this item
forward.
Carlos - Commented that no funding is currently available and that staff internally and at other airport are
monitoring for these funding opportunities.
Tillsonburg Airport Advisory Committee Meeting Minutes, February 18, 2021 - 3 -
Mark – Commented that the current funding opportunities do not allow for our airport to meet the criteria
required ie: Passenger service,
6.8. Discussion about establishing an airport-specific fundraising mechanism possibly including a sub-
committee of same – Mark- commented that we may be able to raise funds
Carlos commented that we can looks for these opportunities and that the Master plan will have
consideration for some of this type of funding. Intent is to go to the area municipalities when the Master
plan is complete and provide the various Councils with the benefits of the Airport to their Municipalities.
6.9. Discussion and presentation and update to Town Council on airport trends including ORGNE traffic –
Mark
6.10. Discussion and presentation/update to Oxford County Council on airport trends including ORGNE
traffic.- Mark
Carlos indicated that both 6.9 and 6.10 will be informed by the Airport Master Plan process and discussion
will take place once the Master Plan information has been shared with the committee.
7. Correspondence
None
8. Other Business
Deb – Mentioned having another member added to the committee. Dan C to provide contact
information to Dan Locke and he will follow up with the Clerks.
9. Next Meeting
The next meeting of the Tillsonburg Airport Advisory Committee will be at 5:30 p.m. on March 18, 2021.
10. Adjournment
Resolution #3
Moved By: Euclid Benoit Seconded By: Valerie Durston
THAT the Tillsonburg Airport Advisory Committee Meeting of February 18, 2021 be adjourned at
6:40 p.m.
Carried
Working Document
Presentation to TAAC
18 March 2021
MASTER PLAN
TILLSONBURG
Regional Airport (CYTB)
1
TABLE OF CONTENT
1.Introduction
2.Economic Impact
3.Aviation Forecast
4.Operations and Management
5.Vicinity and Protection Plan including OLS
6.Development Plan and Engineering
7.Development Fund
8.Development Scenarios
9.Questions
2
3
ECONOMIC IMPACT
Summary of the 2020 Direct, Indirect and Induced Impacts
Categories Direct Effect Indirect Effect Induced Effect Total
Jobs (FTE)10 3 2 15
Jobs (PTE)10 3 2 15
Total Jobs Created 20 6 4 30
Gross Payroll $632,600 $202,432 $126,520 $961,552
Province Government
Revenues
Payroll Tax $32,484 $10,395 $6,497 $49,376
Total $32,484 $10,395 $6,497 $49,376
Federal Government
Revenues
Payroll Tax $61,399 $19,648 $12,280 $93,326
Total $61,399 $19,648 $12,280 $93,326
Government Revenues $93,883 $30,042 $18,777 $142,701
Municipal Taxes Paid to SWOX $30,684 9,819 6,137 46,640
Corporate Expenses $1,652,125 $528,680 $330,425 $2,511,230
Current Investments $393,000 105,280 65,800 564,080
Grand Total $2,802,292 $876,253 $547,658 $4,226,203
66.3%20.7%13.0%100.0%
4
ECONOMIC IMPACT
Total Jobs Created and Breakdown of
Corporate Expenses / Current Investments
Corporate Expenses
Category Direct Indirect Induced Total Impact
Value of Corporate Expenses $1,605,745 $513,838 $321,149 $2,440,732
Value of Corporate Jets and
Passengers $2,105 $674 $421 $3,200
Value of CHAA Annual Events $44,275 $14,168 $8,855 $67,298
Total:$1,652,125 $528,680 $330,425 $2,511,230
Current Investments
Category Direct Indirect Induced Total Impact
Construction Projects $329,000 $105,280 $65,800 $500,080
Purchase of Equipment $64,000 n/a n/a $64,000
Total:$393,000 $105,280 $65,800 $564,080
5
➢2017 Aircraft Movements:15,315 (33%lower than 2016)
➢2018 Aircraft Movements:9,533 (6%lower than 2017)
➢2019 Aircraft Movements:10,352 (8.5%higher than 2018)
➢Total aircraft movements declined from 2016 to
2018 but recovered in 2019
➢Corporate Usage of YTB peaked in 2016 but
started to decrease since then
➢Less than 10%of corporate flights at YTB is
carried by jets
AVIATION FORECAST
Historic Aircraft Movements
66
Local Movements by 2030
➢Optimistic Model
•2%annual growth
•5,489 movements (24.3%increase)
➢Average Model
•1.20%annual growth (based on
population growth)
•5,034 movements (14.0%increase)
➢Conservative Model
•1.04%annual growth (based on SOAN
forecast)
•4,947 movements (12.0%increase)
AVIATION FORECAST
Local Movements Forecast, 2021 -2030
77
Itinerant Movements by 2030
➢Optimistic Model
•2%annual growth
•7,382 movements (24.3%increase)
➢Average Model
•1.20%annual growth (based on population
growth)
•6,769 movements (14.0%increase)
➢Conservative Model
•1.04%annual growth (based on SOAN forecast)
•6,653 movements (12.0%increase)
AVIATION FORECAST
Itinerant Movements Forecast, 2021 -2030
Airport Operations and Management
88
➢The main runway is designated as a Non-Precision Runway and the secondary runways are
designated as Non-Instrument as they do not support instrument approaches
➢The Tillsonburg Regional Airport is not required to have any airport manuals by Transport Canada
regulations;however,the current management has multiple manuals that are quite
comprehensive regarding the Airport and its operations.While these manuals are thorough,
several have not been updated in up to five years.Where full manuals do not exist,there are
standard operating procedures or guidelines to outline airport operating procedures
➢Airport Operations Manual (AOM)-all information that would be required for a certified airport -
not reviewed and updated on a regular basis -changes not tracked -should be reviewed annually
➢Emergency Response Plan (ERP)-all information that would be required by Transport Canada
for a certified airport -Manual is not reviewed and updated on a regular basis.Additionally,to
ensure the procedures are effective for the airport and to ensure staff are trained with respect to
response,the airport should consider holding emergency exercises annually.
Airport Operations and Management
➢Airside Vehicle Operating Procedures (AVOP) -all relevant information for the safe operation
of vehicles on airside surfaces Due to ongoing issues with access to private hangars -
recommend an application and testing procedure be put into place to ensure those driving in
areas on airside understand the rules and regulations that apply. Separate document that exists
for any work carried out on the airport such as grass cutting. Recommend one document be in
place for vehicle operating procedures
➢Snow Removal and Ice Control Plan -snow clearing operations are contracted to outside
service provider -unknown if procedures are expressed and personnel trained. Recommend plan
to include sloping of piles and snowbanks and relevant snow clearing procedures.
➢Wildlife Sightings and Plan -Airport has no plan for wildlife control or procedures for sightings.
While a checklist exists in MESH for use of pyrotechnics, there is no recorded information on
wildlife if it is seen and pyrotechnics are not required. There is no formal training provided to staff
with respect to ensure protection of aircraft from wildlife.
99
Airport Operations and Management
➢Safety Management System (SMS) -The airport does not have a Safety Management System
in place at this time. While not required of registered airports, with the increase in hangar tenants
and movements the airport may want to put policies into place regarding the reporting of safety
concerns and how those concerns will be handled.
➢Staff Training -Training for staff on procedures such as WHMIS, etc are provided through the
Town of Tillsonburg. The Airport Administrator provides training on the fuel system and AVOP,
however no other formal training is in place for airport staff. It is highly recommended that a
comprehensive training plan be created for any staff hired at the airport to include training on
wildlife control, emergency response, airside operating and inspection procedures, and other
areas of airport focus.
➢Airport Development Manual -A manual has been created to govern any development
occurring at the Airport. The document outlines all the procedures and policies for building at the
airport, including safety guidelines and what is required of the proponent in the building process.
➢Checklists for Daily Operations -The airport uses an in-house software called MESH that is
used by the Town of Tillsonburg to monitor daily checks
10
Vicinity Plan –Obstacle Limitations Surfaces
1111
Development Plan and Engineering (overall)
1212
Development Plan and Engineering
1313
1414
1515
Implementation Schedule
1616
Phase 3 -Year 11 to 15
Extending G2 or G3 to runway $ 165 000
Acquiring land on the southside of runway 26 $ 135 000
Runway and Taxiway Alpha overlay $3 200 000
Construction of a parallel Taxiway from Alpha to threshold/end of
runway 26
$1 818 500
Total $5 318 500
Phase 4 -Year 16 to 20
Relocating Fuel Farm
Airport entrance rehabilitation/relocation $ 256 000
Total $ 256 000
Phase 1 -Year 1 to 5
Extending Ramp and adding tie-down (parking space)$ 141 000
Lowering Hangar G1-H2 and G1-H3 floors
Widening G1 by three meters and extending to Delta $ 350 000
Moving sideway hangar
Extending Taxiway Charlie to the runway $ 165 000
Terminal Expansion
Electrical Upgrade
Construction of GA Access Road $ 475 000
Extension of G2 $ 70 000
Extension of Taxiway Charlie southward $ 40 000
Total $1 241 000
Phase 2 -Year 6 to 10
Extending Delta to G3 and G4 $ 340 000
Construction of G4 $ 500 000
Extending G3 $ 60 000
Repavement of main ramp $ 396 000
Total $1 296 000
AIRPORT DEVELOPMENT FUND
➢We recommend the creation of an Airport Development Fund to provide the long-term funding
requirements to meet the airport infrastructure maintenance and rehabilitation needs.
➢The ADF would be based on leveraging a portion of property taxation revenues generated by
NEW (2021 and beyond) taxable investments. The creation of this fund will require the Town of
Tillsonburg to negotiate an agreement with the Southwest Oxford Township.
➢This agreement would allow the airport through the ADF to obtain a portion (anywhere between
1% and 100%) of any new taxes levied from the construction of new buildings on airport lands.
➢The ADF would mandatorily assign these revenues to the maintenance and rehabilitation of YTB
infrastructure. As a negotiation point, if taxation revenues were to provide more than required
funding, the extra revenue could be returned to the Southwest Oxford Township.
➢The ADF management could be a joint undertaking of both Municipalities following the guidelines
and recommendations of the Airport Master Plan.
1717
18
DEVELOPMENT SCENARIOS
Overview of available Land Parcels
•Commercial Office Space
•Light Industrial Space / Hydroponic
•Commercial Retail / Tourism
•RV / Boat / Vehicle / Equipment
Storage (B1 or B2)
•Airport Billboard Signage (Highway 19
Visible)
•Agricultural Farming
•Warehousing and Storage / Logistics
and Distribution
•Light Industrial Space / Hydroponic
Horticultural Production Facility
•Energy Project –Photobioreactor
•Light Industrial Space / Hydroponic
Horticultural Production Facility
•Tree-Top Adventure Park
19
Fly-in Package #1: Events and Festivals
•Bi-weekly newsletter highlighting upcoming
festivals, activities and signature events
•Encouraging tourism visits to events and festivals
at the airport / in Oxford County
Fly-in Package #2: Cheese Trail Tour
•Airport as the fly-in gateway of the Oxford County
Cheese Trail Tour
•Bringing in visitors to cheese factories,
restaurants, hotels & inns in the region
Fly-in Package #3: Lake Erie Shoreline Tour
•Airport as the fly-in gateway to Lake Erie
shoreline
•Tour stops include Long Point Provincial Park,
Port Burwell, Port Bruce and Port Stanley
Fly-in Package #4: Exclusive Getaway
•Strengthening business aviation activities at the
Airport
•Bringing in corporate executives to local inns and
golf courses
FLY-IN PACKAGES
Tourism Packages
20
5-Year Total 10-Year Total 15-Year Total 20-Year Total
Visitors (Same Day)270 816 1,416 2,016
Visitors (Overnight)180 544 944 1,344
TOTAL 450 1,360 2,360 3,360
Parking fees $0 $0 $0 $0
Fuel sales $12,390 $39,690 $72,240 $107,415
Public funding to finance
marketing activities $15,000 $15,000 $15,000 $15,000
TOTAL 27,390 54,690 87,240 122,415
Promotion and marketing -$26,546 -$38,999 -$52,748 -$67,928
ESTIMATED SURPLUS $844 $15,691 $34,492 $54,487
Visitors (Same Day)$54,000 $163,200 $283,200 $403,200
Visitors (Overnight)$90,000.00 $272,000.00 $472,000.00 $672,000.00
TOTAL $144,000 $435,200 $755,200 $1,075,200
VISITORS
REVENUES
EXPENSES
ECONOMIC IMPACT
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 10-Year
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Total
Fly-in Package
Movements 50 70 90 110 130 150 170 190 200 200 1360
Fly-in Package Itinerant Movements 2021 - 2030
➢Revenue Forecast
•$54,690 direct revenue generating in
10-year
•$122,415 direct revenue generating in
20-year
➢Economic Impact
•$435,200 total economic impact in 10-
year
•$1,075,200 total economic impact in
20-year
➢Aircraft Movements
•Generate an additional of 1,360
aircraft movements at the Airport in the
next 10-year
FLY-IN PACKAGES
Revenue Forecast and Economic Impact
21
DEVELOPMENT SCENARIOS
Parcel A1: General Aviation Development
Hangar Construction Assumptions
➢1 GA hangar built per year
➢Alternate between 60’x60’and 40’x40’
hanger developments each year
Taxiway Construction Assumptions
➢Extension of G2 (Year 1)
➢Extension of G3 (Year 5)
➢General Aviation Access Road (Year 1-5)
➢Taxiway D Extension (Year 6)
➢Construction of G4 (Year 10)
➢General Aviation Access Road Extension
(G4-G5):Year 10
➢Construction of G5 (Year 27)
Revenue Assumption
➢Hangar Lease Rate:$0.29/sqft
➢Hangar Assessed Value:$170,000 (60’x60’)
➢Hangar Assessed Value:$67,200 (40’x40’)
➢Assessed Values Based Construction Cost
of ~$42/sqft
➢Property Tax Rate (Residential):0.01039335
➢All rates adjusted for inflation of 2%
22
DEVELOPMENT SCENARIOS
Parcel A1: General Aviation Development
5-Year 10-Year 15-Year 20-Year 30-Year 40-Year
Total Total Total Total Total Total
Residential Tax Rate (0.01039335)$20,621 $75,408 $172,246 $318,087 $802,141 $1,616,217
Total Revenues $20,621 $75,408 $172,246 $318,087 $802,141 $1,616,217
General Aviation Hangars
Tax Revenues
Forecasted Revenue and Expenses
Forecasted Tax Revenues
5-Year 10-Year 15-Year 20-Year 30-Year 40-Year
Total Total Total Total Total Total
Hangar (Land Lease) Revenues $12,833 $48,328 $108,123 $200,140 $507,879 $1,032,500
Total Revenues $12,833 $48,328 $108,123 $200,140 $507,879 $1,032,500
Taxiway D Extension $357,419 $357,419 $357,419 $357,419 $357,419 $357,419
G2 Extension $32,082 $32,082 $32,082 $32,082 $32,082 $32,082
G3 Extension $34,726 $34,726 $34,726 $34,726 $34,726 $34,726
G4 Construction $0 $258,800 $258,800 $258,800 $258,800 $258,800
G5 Construction $0 $0 $0 $0 $335,539 $335,539
General Aviation Access Road (G2-G3)$244,502 $244,502 $244,502 $244,502 $244,502 $244,502
General Aviation Access Road (G4-G5)$0 $269,950 $269,950 $269,950 $269,950 $269,950
Total Expenses $357,419 $357,419 $357,419 $357,419 $357,419 $357,419
Pre-Tax Profit -$344,587 -$309,091 -$249,296 -$157,279 $150,460 $675,081
General Aviation Hangar
Development
Revenues
Expenses
23
DEVELOPMENT SCENARIOS
Parcel A2: Commercial Aviation Development
Hangar Construction Assumptions
➢1 commercial hangar built every 4 years
➢First hangar constructed in year 5
➢Each commercial hanger 5,000sqft
Taxiway Construction Assumptions
➢Taxiway C Extension (Year 5)
Revenue Assumption
➢Hangar Lease Rate:$0.29/sqft
➢Hangar Assessed Value:$210,000
➢Assessed Values Based Construction Cost of ~$42/sqft
➢Property Tax Rate (Commercial):0.02935632
➢All rates adjusted for inflation of 2%
24
DEVELOPMENT SCENARIOS
Parcel A2: Commercial Aviation Development
Forecasted Revenue and Expenses
Forecasted Tax Revenues
5-Year 10-Year 15-Year 20-Year 30-Year 40-Year
Total Total Total Total Total Total
Commercial Tax Rate (0.02935632)$90,843 $232,528 $388,959 $561,672 $962,896 $1,451,987
Total Revenues $90,843 $232,528 $388,959 $561,672 $962,896 $1,451,987
Commercial Aviation Hangars
Tax Revenues
5-Year 10-Year 15-Year 20-Year 30-Year 40-Year
Total Total Total Total Total Total
Hangar (Land Lease) Revenues $1,570 $11,634 $31,944 $64,523 $158,893 $273,930
Total Revenues $1,570 $11,634 $31,944 $64,523 $158,893 $273,930
Taxiway C Extension $175,105 $175,105 $175,105 $175,105 $175,105 $175,105
Total Expenses $175,105 $175,105 $175,105 $175,105 $175,105 $175,105
Pre-Tax Profit -$173,536 -$163,471 -$143,161 -$110,582 -$16,212 $98,825
Commercial Aviation Hangar
Development
Revenues
Expenses
25
DEVELOPMENT SCENARIOS
Parcel A2: Commercial Office Development
Building Size
➢Footprint:15,000sqft
➢#of Floors:2
Construction Cost Assumptions
➢Building:$220.00sqft
➢Access Road:$31.00/sqft
➢Surface Parking:$13.00/sqft
Revenue Assumption
➢Building Lease:$11 .50/sqft
➢Surface Parking:$5.75/sqft
➢Property Tax Rate:0.02935632
26
DEVELOPMENT SCENARIOS
Parcel A2: Commercial Office Development
Airport Owned Airport Owned
Land Lease
Property Tax Revenue
Building Valuation After Year 20 Value
Building #1 $9,418,525
Building #2 $9,377,661
Building #3 $9,310,179
Total:$28,106,366
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Building & Land #1 $465,901 $2,938,963 $5,669,422 $8,684,069
Building & Land #2 $0 $1,505,058 $4,220,974 $7,219,564
Building & Land #3 $0 $0 $2,693,966 $5,668,323
Total Revenues $465,901 $4,444,021 $12,584,362 $21,571,957
3-phase hydro
Water line upgrade/service to property line
(loan payment)
Building & Land #1:
(Down payment and Mortgage Payments)$1,312,047 $2,913,400 $4,452,611 $6,257,659
Building & Land #2:
(Down payment and Mortgage Payments)$0 $2,000,662 $3,642,569 $5,445,612
Building & Land #3:
(Down payment and Mortgage Payments)$0 $1,144,505 $2,779,881 $4,575,754
Site Maintenance (Road and Building
Infrastructure)$14,146 $150,214 $476,503 880,552.88$
Total Expenses $1,326,192 $6,208,781 $11,351,564 $17,159,578
EBITDA -$860,291 -$1,764,760 $1,232,798 $4,412,378
Mortgage (Interest Payments)$240,086 $1,366,228 $2,790,132 $3,731,086
Total Deductions $240,086 $1,366,228 $2,790,132 $3,731,086
Pre-Tax Profit -$1,100,377 -$3,130,989 -$1,557,334 $681,292
Airport Owned and Developed
Revenues
Expenses
Cost to be borne by the tenants
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Building & Land Tax Revenues $209,315 $2,077,699 $6,099,174 $10,539,207
Total Revenues $209,315 $2,077,699 $6,099,174 $10,539,207
Airport Owned and Developed
Property Tax Revenues (0.02935632)
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Land Lease Revenues $6,424 $41,030 $97,757 $160,388
Total Revenues $6,424 $41,030 $97,757 $160,388
Expenses
Marketing and Promotion of Land $20,000 $35,000 $35,000 $35,000
Total Expenses $20,000 $35,000 $35,000 $35,000
Pre-Tax Profit -$13,576 $6,030 $62,757 $125,388
Land Lease
Revenues
27
DEVELOPMENT SCENARIOS
Parcel A2: Light Industrial Development
Building Size
➢Footprint:30,000sqft
➢#of Floors:1
Construction Cost Assumptions
➢Building:$110.00sqft
➢Access Road:$31.00/sqft
➢Surface Parking:$13.00/sqft
Revenue Assumption
➢Building Lease:$6.00/sqft
➢Surface Parking:$3.00/sqft
➢Property Tax Rate:0.03581061
28
DEVELOPMENT SCENARIOS
Parcel A2: Light Industrial Development
Airport Owned
Land Lease
Property Tax Revenue
Building Valuation After
Year 20 Value
Building #1 $4,713,054
Building #2 $4,713,054
Total:$9,426,108
Airport Owned and Developed 5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Property Tax Revenues (0.03581061)
Building &Land #1 $127,912 $806,885 $1,556,526 $2,384,191
Building &Land #2 $0 $467,834 $1,312,051 $2,244,136
Total Revenues $127,912 $1,274,719 $2,868,578 $4,628,326
Airport Owned
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Building & Land #1 $243,539 $1,536,274 $2,963,557 $4,539,393
Building & Land #2 $0 $790,947 $2,218,230 $3,794,067
Total Revenues $243,539 $2,327,220 $5,181,787 $8,333,460
• 3-phase hydro
• Water line upgrade/service to
property line (loan payment)
Marketing and Promotion $10,000 $20,000 $20,000 $20,000
Building & Land #1: (Down
payment and Mortgage
Payments)
$700,927 $1,506,712 $2,391,578 $3,363,284
Building & Land #2: (Down
payment and Mortgage
Payments)
$0 $1,076,297 $1,964,031 $2,938,888
Site Maintenance (Road and
Building Infrastructure)$7,615 $80,971 $240,974 $435,629.81
Total Expenses $718,542 $2,683,980 $4,616,582 $6,757,802
EBITDA -$475,003 -$356,760 $565,205 $1,575,658
Mortgage (Interest Payments)$129,245 $663,104 $1,111,567 $1,386,066
Total Deductions $129,245 $663,104 $1,111,567 $1,386,066
Pre-Tax Profit -$604,248 -$1,019,864 -$546,362 $189,593
Airport Owned and
Developed
Revenues
Expenses
Cost to be borne by the tenants
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Lot Lease #1 $9,361 $34,453 $62,155 $92,742
Lot Lease #2 $0 $21,506 $50,897 $83,348
Total Revenues $9,361 $55,958 $113,053 $176,090
• 3-phase hydro
• Water line upgrade/service
to property line
Marketing and Promotion of
Land $20,000 $25,000 $25,000 $25,000
Total Expenses $20,000 $25,000 $25,000 $25,000
Pre-Tax Profit -$10,639 $30,958 $88,053 $151,090
Land Lease
Revenues
Expenses
Cost to be borne by the tenants
29
DEVELOPMENT SCENARIOS
Parcel B1: Retail Development
Building Size
➢Building size: 15,000sqft each
➢Total land size: 27,500sqft (.63 acre)
Revenue Assumptions
➢Property tax rate: Commercial Full (0.02935632)
➢Land lease rate: $3,000/acre
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Land Lease #1 $6,030 $16,912 $28,927 $42,192
Land Lease #2 $2,050 $12,932 $24,947 $38,212
Land Lease #3 $0 $8,791 $20,805 $34,071
Total Revenues $6,030 $16,912 $28,927 $42,192
• Single phase hydro
• Water line upgrade/service
to property line
Marketing and Promotion of
Land $25,000 $30,000 $30,000 $30,000
Total Expenses $25,000 $30,000 $30,000 $30,000
Pre-Tax Profit -$18,970 -$13,088 -$1,073 $12,192
Land Lease
Revenues
Expenses
Cost to be borne by the tenants
30
DEVELOPMENT SCENARIOS
Parcel B1: Airport Billboard Signage (Highway 19 Visible)
A highway billboard sign can increase awareness of the business activity taking place at the
Tillsonburg Regional Airport which may lead to:
•New advertising revenues by promoting other onsite businesses (ie:restaurant,flight school,
commercial tenants,etc.)on the billboard sign;
•An increase in flight school training;
•An increase in additional hangar investment and/or development;
•An overall increase in general aviation activity;and
•An increase in industrial/commercial investment and/or development.
5-Year Total 10-Year Total 15-Year Total 20-Year Total
REVENUES
Signage Fee
($250/Month) $15,600 $32,700 $51,300 $71,400
EXPENSES
Single sided 16’
(H) x 24’ (W)
billboard
complete with
graphics and
installation
-$22,035 -$22,035 -$22,035 -$22,035
ESTIMATED
SURPLUS -$6,435 $10,665 $29,265 $49,365
31
DEVELOPMENT SCENARIOS
Parcel B2: RV / Boat / Vehicle / Equipment Storage
Land Lease
Property Tax Revenue
Airport Owned and Operated
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Land Lease Revenues $16,913 $62,247 $112,299 $167,560
Total Revenues $16,913 $62,247 $112,299 $167,560
Marketing and Promotion $10,000 $10,000 $10,000 $10,000
Total Expenses $10,000 $10,000 $10,000 $10,000
Pre-Tax Profit $6,913 $52,247 $102,299 $157,560
Expenses
Land Lease
Revenues
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Commercial Tax Rate (0.02935632)$145,631 $535,972 $966,940 $1,442,763
Total Revenues $145,631 $535,972 $966,940 $1,442,763
RV / Boat / Vehicle / Equipment Storage
- Tax Revenue
Revenues
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Storage Revenues $922,480 $2,341,680 $3,760,880 $5,180,080
Total Revenues $922,480 $2,341,680 $3,760,880 $5,180,080
Loan Down Payment $231,420 $231,420 $231,420 $231,420
Loan Repayment $450,008 $944,181 $1,486,852 $2,082,780
Staff (Part-time)$108,244 $227,754 $359,703 $505,385
Site Service & Maintenance $22,500 $71,918 $126,185 $185,778
Total Expenses $812,173 $1,475,273 $2,204,159 $3,005,363
EBITDA $110,307 $866,407 $1,556,721 $2,174,717
Mortgage (Interest Payments)$174,737 $305,311 $387,386 $416,203
Total Deductions $174,737 $305,311 $387,386 $416,203
Pre-Tax Profit -$64,430 $561,097 $1,169,335 $1,758,514
Airport Owned and Managed
Revenues
Expenses
Existing Scenario ($260/acre)
Proposed Scenario ($300/acre)
Tax Revenue:
32
DEVELOPMENT SCENARIOS
Parcel C1-C5: Agricultural Land (Land Lease)
Existing Scenario
➢Total acres:164
➢Land lease rate:$260 /acre
➢Land lease rate increases 2%/year
Proposed Scenario
➢Land lease rate:$300 /acre
➢Land lease rate increases 2%/year
Tax Revenue
➢Tax Rate (Farmlands): 0.00231205
(remains unchanged overtime)
➢2019 MPAC Accessed Value:$5,637,500
➢Land value increases 2%per year
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Agricultural Land Lease ($260/acre)$229,600 $500,200 $811,800 $1,164,400
Total Revenues $229,600 $500,200 $811,800 $1,164,400
Agricultural Land Lease
Revenues
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Agricultural Land Lease ($300/acre)$262,400 $565,800 $910,200 $1,295,600
Total Revenues $262,400 $565,800 $910,200 $1,295,600
Agricultural Land Lease
Revenues
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Farmlands Tax Rate (0.00231205)$67,830 $142,721 $225,406 $316,696
Total Revenues $67,830 $142,721 $225,406 $316,696
Agricultural Land Lease - Tax Revenue
Revenues
Building Size
➢Warehouse:60,000sqft
➢Commercial office:40,000sqft
Construction Cost Assumptions
➢Warehouse:$80.00 /sqft
➢Commercial office:$220 /sqft
➢Access Road:$31.00/sqft
➢Surface Parking:$13.00/sqft
Revenue Assumptions
➢Warehouse lease rate:$6.00/sqft
➢Warehouse parking lease rate:$3.00/sqft
➢Commercial office lease rate:$11 .50/sqft
➢Commercial office parking lease rate:$5.75/sqft33
DEVELOPMENT SCENARIOS
Parcel D1-D2: Logistics, Warehousing & Distribution
34
DEVELOPMENT SCENARIOS
Parcel D1-D2: Logistics, Warehousing & Distribution
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Warehouse & Parking (D1)$519,567 $3,277,494 $6,322,468 $9,684,366
Office & Parking (D1)$684,638 $2,908,153 $6,920,540 $11,350,540
Warehouse & Parking (D2)$0 $0 $3,044,974 $6,406,871
Office & Parking (D2)$0 $0 $4,012,388 $8,442,388
Total Revenues $1,204,206 $6,185,647 $20,300,370 $35,884,165
3-phase hydro
Water line upgrade/service to
property line (loan payment)
Marketing and Promotion $20,000 $40,000 $40,000 $40,000
Warehouse (D1):
(Down payment and Mortgage
Payments)
$872,193 $2,129,449 $3,510,093 $5,026,233
Office (D1)
(Down payment and Mortgage
Payments)
$1,436,667 $3,507,607 $5,781,790 $8,279,161
Warehouse (D2):
(Down payment and Mortgage
Payments)
$0 $0 $2,104,228 $3,630,216
Office (D2)
(Down payment and Mortgage
Payments)
$0 $0 $3,535,385 $6,099,249
Site Maintenance (Road and
Building Infrastructure)$31,453 $232,403 $784,102 1,594,438.86$
Total Expenses $2,360,313 $5,909,459 $15,755,599 $24,669,299
EBITDA -$1,156,107 $276,188 $4,544,771 $11,214,866
Mortgage (Interest Payments)$277,904 $1,484,527 $3,810,674 $5,412,628
Total Deductions $277,904 $1,484,527 $3,810,674 $5,412,628
Pre-Tax Profit -$1,434,011 -$1,208,339 $734,097 $5,802,238
Airport Owned and Developed
Revenues
Expenses
Cost to be borne by the tenants
Building Valuation After Year 20 Value
Warehouse (D1)$6,992,694
Office (D1)$12,819,938
Warehouse (D2)$6,992,694
Office (D2)$12,819,938
Total:$39,625,264
Airport Owned Airport Owned
Land Lease
Property Tax Revenue
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Commercial Office: Commercial Full
(0.02935632)$279,631 $1,763,945 $5,638,693 $9,916,729
Warehouse: Industrial Full (0.03581061)$186,060 $1,173,691 $3,593,335 $6,264,818
Total Revenues $465,691 $2,937,635 $9,232,028 $16,181,547
Revenues
Property Tax Revenue
35
DEVELOPMENT SCENARIOS
Parcel F1: Tree -Top Adventure Park
Land
➢Land size:27 acres
Revenue Assumptions
➢Land lease:$1,000/acre
➢Surface Parking:$5.75/sqft
➢Property Tax Rate: Commercial
Full (0.02935632)
Assessed Value
➢$17,561/acre
➢$503,169 (Year 5, incl. inflation)
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Land Lease $79,601 $223,243 $381,835 $556,934
Total Revenues $79,601 $223,243 $381,835 $556,934
• Single phase hydro
• Water line upgrade/service to
property line
Marketing and Promotion of Land $10,000 $10,000 $10,000 $10,000
Total Expenses $10,000 $10,000 $10,000 $10,000
Pre-Tax Profit $69,601 $213,243 $371,835 $546,934
Land Lease
Revenues
Expenses
Cost to be borne by the tenants
5-Year 10-Year 15-Year 20-Year
Total Total Total Total
Commercial Office: Commercial
Full (0.02935632)$29,838 $109,813 $198,112 $295,602
Total Revenues $29,838 $109,813 $198,112 $295,602
Property Tax Revenues
Land Lease
QUESTIONS
36
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3838