Airport Improvement Program: Proposed Changes to Benefit Cost Analysis (BCA) Threshold, 78798-78799 [2010-31614]

Download as PDF 78798 Federal Register / Vol. 75, No. 241 / Thursday, December 16, 2010 / Notices B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act.9 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: srobinson on DSKHWCL6B1PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–Phlx–2010–175 on the subject line. Internet Web site (http://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–Phlx2010–175 and should be submitted on or before January 6, 2011. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–31630 Filed 12–15–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Alternate Energy Holdings, Inc.; Order of Suspension of Trading December 14, 2010. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Alternate Paper Comments Energy Holdings, Inc. (‘‘AEHI’’) because • Send paper comments in triplicate of questions regarding the accuracy and to Elizabeth M. Murphy, Secretary, adequacy of disclosures by AEHI Securities and Exchange Commission, concerning, among other things: (1) The 100 F Street, NE., Washington, DC stock sales of certain AEHI officers, (2) 20549–1090. the status and viability of funding to All submissions should refer to File build a nuclear reactor, and (3) Number SR–Phlx–2010–175. This file executive compensation. AEHI is quoted number should be included on the on the OTC Bulletin Board and on the subject line if e-mail is used. To help the Pink Sheets operated by Pink OTC Commission process and review your Markets, Inc. under the ticker symbol comments more efficiently, please use ‘‘AEHI.’’ only one method. The Commission will The Commission is of the opinion that post all comments on the Commission’s the public interest and the protection of 9 15 U.S.C. 78s(b)(3)(A)(ii). VerDate Mar<15>2010 18:22 Dec 15, 2010 10 17 Jkt 223001 PO 00000 CFR 200.30–3(a)(12). Frm 00132 Fmt 4703 Sfmt 4703 investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed company is suspended for the period from 9:30 a.m. EST, on December 14, 2010 through 11:59 p.m. EST, on December 28, 2010. By the Commission. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–31698 Filed 12–14–10; 4:15 pm] BILLING CODE 8011–01–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration [Docket No. FAA–2010–1220] Airport Improvement Program: Proposed Changes to Benefit Cost Analysis (BCA) Threshold Federal Aviation Administration (FAA), Department of Transportation (DOT). ACTION: Notice of Availability of Draft Guidance and Request for Comments. AGENCY: The Federal Aviation Administration (FAA) is issuing this Notice to advise that FAA has developed draft guidance modifying its policy requiring benefit cost analyses (BCA) for capacity projects when applying for Airport Improvement Program (AIP) grants for capacity projects at the discretion of the Secretary of Transportation. This modification proposes to raise the threshold at which BCAs are required, from $5 million to $10 million in AIP Discretionary funds. FAA invites airport sponsors and other interested parties to comment on the draft guidance. FAA will consider these comments in promulgating final BCA guidance for airport sponsors. DATES: Send your comments on or before January 31, 2011. The FAA will consider comments received on the proposed policy guidance. Any necessary or appropriate revision to the guidance resulting from the comments received will be adopted as of the date of a subsequent publication in the Federal Register. FOR FURTHER INFORMATION CONTACT: Dennis Walsh, Financial Analysis and Passenger Facility Charge Branch (APP– 510), Room 619, Federal Aviation Administration, 800 Independence Avenue, SW., Washington, DC 20591; SUMMARY: E:\FR\FM\16DEN1.SGM 16DEN1 srobinson on DSKHWCL6B1PROD with NOTICES Federal Register / Vol. 75, No. 241 / Thursday, December 16, 2010 / Notices telephone: (202) 493–4890, e-mail: dennis.walsh@faa.gov. A draft Program Guidance Letter is available on-line at http://www.faa.gov/airports/aip/ bc_analysis/. In addition, hard copies can be reviewed at Room 619, Federal Aviation Administration, 800 Independence Avenue, SW., Washington, DC 20591. Comments Invited: ADDRESSES: You may send comments [identified by Docket Number FAA–2010–1220] using any of the following methods: • Government-wide rulemaking Web site: Go to http://www.regulations.gov and follow the instructions for sending your comments electronically. • Mail: Docket Operations, U.S. Department of Transportation, West Building, Ground Floor, Room W12– 140, Routing Symbol M–30, 1200 New Jersey Avenue, SE., Washington, DC 20590. • Fax: 1–202–493–2251. • Hand Delivery: To Docket Operations, Room W12–140 on the ground floor of the West Building, 1200 New Jersey Avenue, SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. Privacy: We will post all comments we receive, without change, to http:// www.regulations.gov, including any personal information you provide. For more information, see the Privacy Act discussion in the SUPPLEMENTARY INFORMATION section of this document. Docket: To read background documents or comments received, go to http://www.regulations.gov at any time or to Room W12–140 on the ground floor of the West Building, 1200 New Jersey Avenue, SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. SUPPLEMENTARY INFORMATION: Title 49 U.S.C. Section 47115(d) specifies that, in selecting projects for discretionary grants to preserve and enhance capacity at airports, the Secretary must consider the benefits and costs of the projects. In 1994, FAA established its policy on Benefit Cost Analysis (BCA) requirements for airport capacity projects; factors leading to these requirements included: a. The need to improve the effectiveness of Federal airport infrastructure investments in light of a decline in Federal AIP budgets; b. Issuance of Executive Order 12893, ‘‘Principles for Federal Infrastructure Investments’’ (January 26, 1994); c. Guidance from Congress citing the need for economic airport investment criteria; and d. Statutory language from 1994 included in Title 49 U.S.C. Section VerDate Mar<15>2010 18:00 Dec 15, 2010 Jkt 223001 47115(d) specifies that in selecting projects for discretionary grants to preserve and enhance capacity at airports, the Secretary shall consider the benefits and costs of the projects (See 49 U.S.C. 47115. Discretionary Fund). The FAA implemented the BCA policy to include this requirement for capacity projects at all categories of airports in order to limit FAA’s risks when investing large amounts of discretionary funds. The FAA uses the conclusions reached in the BCA review to determine policy and funding decisions on possible future Federal investments. In 1997, FAA implemented a new BCA policy which transferred the responsibility of preparing the BCA from FAA to the sponsor. In addition, the policy lowered the dollar threshold from $10 million in AIP Discretionary funds (established in 1994) to $5 million, citing three reasons related to Executive Order 12893, technical feasibility of lowering the threshold and workload considerations. The change to the $5 million threshold was made policy in 1997 and formalized in a 1999 Federal Register notice, Federal Aviation Administration Policy and Final Guidance Regarding Benefit Cost Analysis (BCA) on Airport Capacity Projects for FAA Decisions on Airport Improvement Program (AIP) Discretionary Grants and Letters of Intent (LOI), 64 FR 70107 (December 15, 1999). Since 1997, policy has required sponsors to conduct BCAs for capacity projects for which more than $5 million in AIP Discretionary funding will be requested. In developing the draft guidance increasing the threshold, FAA reviewed the reasons why the BCA threshold amount was lowered in 1997 and concluded that the previous reasons do not present a sufficient basis to warrant maintaining the $5 million level threshold today. FAA has gained valuable experience assessing the implementation of the policy and the need to further clarify the threshold requirements for BCA. The $5 million threshold has remained unchanged for over 13 years while the cost of construction has risen significantly. A construction cost of $5 million in 1997 was equivalent to $9.8 million in July 2008. The $5 million threshold has required both FAA and sponsors of non-primary and non-hub primary airports to devote substantial financial and staff resources in preparing and evaluating BCAs for relatively small projects with readily apparent capacity benefits. Based on the increase in construction costs, FAA has concluded that $10 PO 00000 Frm 00133 Fmt 4703 Sfmt 4703 78799 million in AIP Discretionary funds is the appropriate threshold for fiscal year 2011 and beyond. Further explanation for this conclusion is detailed in the draft PGL. Under the draft guidance, the BCA threshold is being increased to $10 million, the FAA would retain the right to require a BCA for any capacity project, in order to evaluate the reasonableness of project costs relative to project benefits. Additionally, FAA is inviting airport sponsors and other interested parties to comment on the new $10 million threshold for which a BCA must be performed. Issued in Washington, DC on December 8, 2010. Frank San Martin, Manager, Airports Financial Assistance Division. [FR Doc. 2010–31614 Filed 12–15–10; 8:45 am] BILLING CODE P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Noise Compatibility Program Notice, Fort Worth Alliance Airport, Fort Worth, TX Federal Aviation Administration, DOT. ACTION: Notice. AGENCY: The Federal Aviation Administration (FAA) announces its findings on the noise compatibility program submitted by the city of Fort Worth, Texas under the provisions of 49 U.S.C. (the Aviation Safety and Noise Abatement Act, hereinafter referred to as ‘‘the Act’’) and 14 CFR Part 150. These findings are made in recognition of the description of Federal and nonfederal responsibilities in Senate Report No. 96–52 (1980). On September 7, 2006, the FAA determined that the noise exposure maps submitted by the city of Fort Worth, Texas under Part 150 were in compliance with applicable requirements. Subsequent to this determination, the future condition noise exposure map was revised to reflect additional military operations proposed by the Department of Defense. This revision delayed acceptance of the future condition noise exposure map until May 5, 2009. On December 1, 2010, the FAA approved the Fort Worth Alliance Airport noise compatibility program. Most of the recommendations of the program were approved. No program elements relating to new or revised flight procedures for noise abatement were proposed by the city of Fort Worth. SUMMARY: E:\FR\FM\16DEN1.SGM 16DEN1

Agencies

[Federal Register Volume 75, Number 241 (Thursday, December 16, 2010)]
[Notices]
[Pages 78798-78799]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-31614]


=======================================================================
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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

 [Docket No. FAA-2010-1220]


Airport Improvement Program: Proposed Changes to Benefit Cost 
Analysis (BCA) Threshold

AGENCY: Federal Aviation Administration (FAA), Department of 
Transportation (DOT).

ACTION: Notice of Availability of Draft Guidance and Request for 
Comments.

-----------------------------------------------------------------------

SUMMARY: The Federal Aviation Administration (FAA) is issuing this 
Notice to advise that FAA has developed draft guidance modifying its 
policy requiring benefit cost analyses (BCA) for capacity projects when 
applying for Airport Improvement Program (AIP) grants for capacity 
projects at the discretion of the Secretary of Transportation. This 
modification proposes to raise the threshold at which BCAs are 
required, from $5 million to $10 million in AIP Discretionary funds.
    FAA invites airport sponsors and other interested parties to 
comment on the draft guidance. FAA will consider these comments in 
promulgating final BCA guidance for airport sponsors.

DATES: Send your comments on or before January 31, 2011. The FAA will 
consider comments received on the proposed policy guidance. Any 
necessary or appropriate revision to the guidance resulting from the 
comments received will be adopted as of the date of a subsequent 
publication in the Federal Register.

FOR FURTHER INFORMATION CONTACT: Dennis Walsh, Financial Analysis and 
Passenger Facility Charge Branch (APP-510), Room 619, Federal Aviation 
Administration, 800 Independence Avenue, SW., Washington, DC 20591;

[[Page 78799]]

telephone: (202) 493-4890, e-mail: dennis.walsh@faa.gov. A draft 
Program Guidance Letter is available on-line at http://www.faa.gov/airports/aip/bc_analysis/. In addition, hard copies can be reviewed at 
Room 619, Federal Aviation Administration, 800 Independence Avenue, 
SW., Washington, DC 20591.
    Comments Invited: ADDRESSES: You may send comments [identified by 
Docket Number FAA-2010-1220] using any of the following methods:
     Government-wide rulemaking Web site: Go to http://www.regulations.gov and follow the instructions for sending your 
comments electronically.
     Mail: Docket Operations, U.S. Department of 
Transportation, West Building, Ground Floor, Room W12-140, Routing 
Symbol M-30, 1200 New Jersey Avenue, SE., Washington, DC 20590.
     Fax: 1-202-493-2251.
     Hand Delivery: To Docket Operations, Room W12-140 on the 
ground floor of the West Building, 1200 New Jersey Avenue, SE., 
Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, 
except Federal holidays.
    Privacy: We will post all comments we receive, without change, to 
http://www.regulations.gov, including any personal information you 
provide. For more information, see the Privacy Act discussion in the 
SUPPLEMENTARY INFORMATION section of this document.
    Docket: To read background documents or comments received, go to 
http://www.regulations.gov at any time or to Room W12-140 on the ground 
floor of the West Building, 1200 New Jersey Avenue, SE., Washington, 
DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal 
holidays.

SUPPLEMENTARY INFORMATION: Title 49 U.S.C. Section 47115(d) specifies 
that, in selecting projects for discretionary grants to preserve and 
enhance capacity at airports, the Secretary must consider the benefits 
and costs of the projects. In 1994, FAA established its policy on 
Benefit Cost Analysis (BCA) requirements for airport capacity projects; 
factors leading to these requirements included:
    a. The need to improve the effectiveness of Federal airport 
infrastructure investments in light of a decline in Federal AIP 
budgets;
    b. Issuance of Executive Order 12893, ``Principles for Federal 
Infrastructure Investments'' (January 26, 1994);
    c. Guidance from Congress citing the need for economic airport 
investment criteria; and
    d. Statutory language from 1994 included in Title 49 U.S.C. Section 
47115(d) specifies that in selecting projects for discretionary grants 
to preserve and enhance capacity at airports, the Secretary shall 
consider the benefits and costs of the projects (See 49 U.S.C. 47115. 
Discretionary Fund).
    The FAA implemented the BCA policy to include this requirement for 
capacity projects at all categories of airports in order to limit FAA's 
risks when investing large amounts of discretionary funds. The FAA uses 
the conclusions reached in the BCA review to determine policy and 
funding decisions on possible future Federal investments.
    In 1997, FAA implemented a new BCA policy which transferred the 
responsibility of preparing the BCA from FAA to the sponsor. In 
addition, the policy lowered the dollar threshold from $10 million in 
AIP Discretionary funds (established in 1994) to $5 million, citing 
three reasons related to Executive Order 12893, technical feasibility 
of lowering the threshold and workload considerations.
    The change to the $5 million threshold was made policy in 1997 and 
formalized in a 1999 Federal Register notice, Federal Aviation 
Administration Policy and Final Guidance Regarding Benefit Cost 
Analysis (BCA) on Airport Capacity Projects for FAA Decisions on 
Airport Improvement Program (AIP) Discretionary Grants and Letters of 
Intent (LOI), 64 FR 70107 (December 15, 1999).
    Since 1997, policy has required sponsors to conduct BCAs for 
capacity projects for which more than $5 million in AIP Discretionary 
funding will be requested. In developing the draft guidance increasing 
the threshold, FAA reviewed the reasons why the BCA threshold amount 
was lowered in 1997 and concluded that the previous reasons do not 
present a sufficient basis to warrant maintaining the $5 million level 
threshold today.
    FAA has gained valuable experience assessing the implementation of 
the policy and the need to further clarify the threshold requirements 
for BCA. The $5 million threshold has remained unchanged for over 13 
years while the cost of construction has risen significantly. A 
construction cost of $5 million in 1997 was equivalent to $9.8 million 
in July 2008. The $5 million threshold has required both FAA and 
sponsors of non-primary and non-hub primary airports to devote 
substantial financial and staff resources in preparing and evaluating 
BCAs for relatively small projects with readily apparent capacity 
benefits.
    Based on the increase in construction costs, FAA has concluded that 
$10 million in AIP Discretionary funds is the appropriate threshold for 
fiscal year 2011 and beyond. Further explanation for this conclusion is 
detailed in the draft PGL. Under the draft guidance, the BCA threshold 
is being increased to $10 million, the FAA would retain the right to 
require a BCA for any capacity project, in order to evaluate the 
reasonableness of project costs relative to project benefits.
    Additionally, FAA is inviting airport sponsors and other interested 
parties to comment on the new $10 million threshold for which a BCA 
must be performed.

    Issued in Washington, DC on December 8, 2010.
Frank San Martin,
Manager, Airports Financial Assistance Division.
[FR Doc. 2010-31614 Filed 12-15-10; 8:45 am]
BILLING CODE P