RFP: Operation of the Peace River Regional Airport
Posted September 5, 2019
After an extended period of review and consultation with our funding partners, a local advocacy group and airport tenants, the Town of Peace River, along with our funding partners, announces today that we will be issuing a Request for Proposals (RFP) to consider options for the operation and management of the Peace River Regional Airport.
We recognize that the Airport is a vital part of the region’s economic, forestry, transportation, and healthcare infrastructure. At present, this facility costs regional taxpayers $740,000 per year. It is the goal of the affected municipal governments to minimize the impact on ratepayers and keep this asset viable for the long term. This includes exploring alternate ways of managing and operating the facility.
The partners are open to proposals which explore various operational models. These may include an independent not-for-profit company, a municipal corporation, a for-profit entity, an airport authority, a multi-party joint venture, or other proposal.
Conditional in the RFP is the right to refuse any and all proposals if none meet the requirements for longevity and financial sustainability. Should the arrangement default, the airport will return to the Town of Peace River. Any prospective arrangement would include a minimum 20-year commitment to ensuring the continued operation of the airport along with other mandatory conditions around financial planning, capital requirements, and air service development.
In addition to preparing the RFP, a management study has been commissioned to analyze the benefits and risks of various structures. This report will provide background during the decision-making process. It is expected to include a number of options such as a lease agreement, a management and operations arrangement, or a transfer of ownership.
The municipal funding partners are committed to finding an arrangement which best represents sound economics, strategic business acumen and the overall needs of the region.
Closes 10 am October 17, 2019