RentalCarFacilityCustomerServiceBuilding 

Re‐Demising(#C801209)

DesignServicesProcurement

PreliminaryProjectWork

8b_supp

ItemNo.

September24,2024DateofMeeting

SEARentalCarOperations

RentalCarFacility(RCF)beganoperationinMay2012

• LeasebetweenthePortandtherentalcarindustry(30‐yearterm)

• ConcessionAgreementcomponentexpiresinMay2027(10‐yearterm

plus5‐yearCovid‐relatedextension)

Rentalcaroperationsasignificantnon‐aeronauticalrevenuesource

• 4.6millionpassengersrentedcars

in2023

• $46.5millioninconcession/landrentrevenues

• $41.6millionincustomerfacilitychargerevenues

ProjectLocation

RentalCarFacility

ProjectPurposeandScope

Purpose:

Supportthere‐biddingoftheRCFConcessionAgreementand

improvethecustomerexperience

ScopeofWork:

• Improvementstodefinetenantoperationalblocks(interior

walls/finishes,HVAC,lighting,utilities,signage)

• Remodelcustomerservicebuildingre strooms

• Otherrenewal/replacementscopeasrequired

CurrentEst.Budget: $10,545,410

ThisRequest: $2,000,000

Projectscopenotfullydefined–

additionalbudgetmayberequired

Projectprimarilyfundedby

CustomerFacilityChargerevenues

PreliminaryProjectSchedule:

• DesignStartQ22025

• CommissionProject

AuthorizationQ32025

• ConstructionStartQ22027

• In‐UseDateQ42028

Constructionneedstobeginby

June2027tosupportnew

ConcessionAgreement

ProjectBudgetandSchedule

ConeofCertainty

Weare

here

QUESTIONS?

SEA2023Non‐AeronauticalRevenues

Percentage2023RevenuesDescription

31.6%$111.11MPublicParking

25.1%$88.11MRentalCars*

19.3%$67.94MAirportDiningandRetail

11.5%$40.39MAVBusiness&Properties

7.1%$24.89MGroundTransportation

5.4%$18.81MOther

$351.25MTotalNon‐AeronauticalRevenues

*RentalCars includes$24.7MthatisclassifiedasNon‐OperatingRevenue,forthepurposeofpayingDebtServiceobligations;$88.11Misreflectiveofallrevenuecollected.