1) Survey Development and Administration
Airport Activity Survey and Registered Aircraft Owner Survey instruments for accurately modeling the impacts of HFD accurately. These surveys will help inform and confirm the following inputs:
• Businesses that support activities at the airport
• Owners of registered aircraft
• Other entities engaged in capital projects
2) Market Scan of Hartford Commercial and Residential Market
To develop appropriate scenarios that accurately convey the opportunity for growth in the Hartford market and the potential role of the HFD Airport site in fueling future growth, it is critical to understand the state of the real estate market in the City of Hartford and the State. The market scan will characterize how a project like this can capitalize on recent momentum and capture greater demand, attracting new residents and businesses to Hartford and Connecticut.
3) Input Assembly
Economic impact analysis of current airport operations as well as potential future redevelopment. The analysis will look at the following:
• Inventory key metrics regarding rents, construction costs, infrastructure assumptions, and absorption projections across uses from the market scan.
• Conduct research regarding reasonable assumptions for industry wages, wage growth, employment trends, retail revenues, and other metrics regarding site operations for any scenario.
• Track down other relevant assumptions that may inform the analysis.
• Provide the market scan findings to support finalizing the development program for the four repositioning scenarios.
4) Economic & Fiscal Impact Analysis of HFD Airport Current Operations and Economic Impact Potential of Closing Hartford Brainard Airport
Estimate the economic impacts (jobs, compensation, and economic output) of the current operations of HFD Airport based on analysis of the inputs, including airport employment, revenues from airport traffic and parking, special events impacts, operations expenditures, benefits from educational programming, and other applicable impacts. Using the industry standard input-output model IMPLAN1, HR&A will estimate the direct, indirect, and induced economic impacts2 from the HFD Airport’s current operations on the City of Hartford and the State of Connecticut.
5) Redevelopment Scenarios
An analysis of variables from the past existing conditions analysis and adapted to the site’s texture and limitations while also informing our approach to development density and site coverage, including the scale and role of open space. Trends from the market scan indicate current development momentum, particularly absorption and oncoming pipeline projects, to assess current and potential future demand and consider how these factors inter-relate to produce realistic development programs. Additionally, HR&A will examine how these scenarios fit into State and regional economic development goals and priorities.
6) Economic & Fiscal Impact Analysis: Repositioning Scenarios
Analyze the economic and fiscal impacts of the four repositioning scenarios, varying the extent of site coverage, open space, and development density. The four development scenarios will be developed, with one preferred scenario identified. For each scenario, the direct, indirect, and induced economic impacts (jobs, compensation, and economic output) resulting from one-time project construction and ongoing operations based on a projected mix of residents and businesses that are expanding or relocating to HFD will be estimated.
7) Residual Land Value Analysis
Residual Land Value Analysis for each alternative development option will be evaluated to determine the site's estimated value for reimbursement to the FAA.
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