$200M in GO Zone bonds could build rental car facility at N.O. airport (1 Viewer)

MikeyF

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NEW ORLEANS — New Orleans Aviation Board members began the process of
building a $142-million rental car facility at Louis Armstrong New Orleans International
Airport with its vote Monday authorizing a request for $200 million in Gulf Opportunity
Zone bonds for the project.

Under a best case scenario, the new facility will take two years to design, putting a
construction start date at around May 2010 and final completion during spring of 2012.

NOAB members spent nearly an hour debating the merits of a new consolidated rental
car facility and funding strategies for the project, which involves building a four-story
facility physically attached to the airport and expanding the total number of available
rental car spaces from around 600 to just more than 2,600.

The board eventually voted to give Sean Hunter, LANOIA’s aviation director, the option of
requesting $200 million in tax-exempt GO Zone bonds from the State Bond
Commission.

LANOIA officials commissioned an impact study and conceptual design for the new
rental car facility based on the financial importance of rental car revenues, which are
the single largest source, 17 percent, of LANOIA’s non-airline revenue, in 2006.

Rental car revenues were $7.9 million in 2005 and $9.26 million in 2006, said Michelle
Duffourc, LANOIA spokeswoman

http://www.neworleanscitybusiness.com/uptotheminute.cfm?recid=15882&userID=0&referer=dailyUpdate
 

MLU

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It's about time. Baton Rouge is about to break ground on pretty much the same thing, although on a much smaller scale. The Car Rental building is already there. They're just adding the parking building now.
 

neworleanshoo

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this is needed. i just flew into tampa and rented a car, and i was amazed at how easy and efficient it was (especially compared to new orleans).

actually, their whole airport is easy and efficient.... especially when compared to new orleans...

it's incredible how much new construction is going on, everywhere you look. new orleans is so far behind the rest of the south, it's pretty sad
 

Safety_In_Numbers

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Same thing in Las Vegas. The single Rental Car facility was incredible, and I can't wait until we put ours online.
 

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