Compared to those imposed on the seaport activities, the fee hike for the airport will be less than 10 percent, he said.
The new rates are based on the study conducted by CPA’s airport bond consultant, Ricondo Associates.
“In general, we’re really looking at a very nominal rate increase for our airport activities,” Camacho said. “What we can assure is that they won’t see a dramatic increase as what can be seen at the seaport soon.”
A meeting with airport tenants and signatory airlines may be held early next month, he added.
The board’s seaports facilities committee chairman Benigno R. Sablan earlier said that CPA will implement a 20 percent increase in the fees it collects from seaport activities.
Last week, the board approved the new parking fees to be collected from taxis and buses at the seaport. The fee was raised from $5 to $25.
Camacho said CPA will soon announce the new fees for the airport division.
“We’re almost there,” he added. “We’re just waiting for the seaports as CPA is still doing the calculations to make sure that whatever rate increase is implemented, it addresses our 1.25 debt service ratio.”
A rate increase in seaport activities was recommended by CPA’s seaport bond consultant, BST Associates.
Camacho said the Ricondo and BST reports will be submitted to the agency’s bond trustee, the Bank of Guam.
He said CPA’s progress report to the bank is also due for submission on Dec. 5.
“We believe this report will satisfy the bond trustee…because we’re providing data showing that CPA is slowly accomplishing a lot of things and we’re on the road to compliance,” he added.
CPA expects that before the end of Jan. 2009, “we will be in full compliance with our bond issues,” Camacho said.
