The Development Process

The P3 Process Timeline

VIPA has developed an initial schedule for this Airports P3 Project.

2022

Q4

Official project announcement
Issuance of the Request for Qualifications (RFQ )

2023

Q1

Investor conferences and site visits at HERA and CEKA
RFQ responses due

Q2

Evaluation and selection of successful bidders by the VIPA selection committee
Short listed bidders presented to the VIPA Board of Governors for approval
VIPA Board of Governors authorizes the issuance of the Request for Proposal (RFP)
Issue RFP
In-market period and Collaborative Dialogue Meetings (CDM) begin

Q3

In-market period and CDMs continue

Q4

RFP responses due
Evaluation of RFP proposals by the selection committee
Selection of top bidders
Interviews of top bidders and entertainment of their Best and Final Offers (BAFO)
Selection of the Winning Bidder by the Selection Committee and recommendation to the VIPA Board

2024

Q1

Approval and selection of the preferred proposer by the VIPA Board of Governors

Notice to Proceed (NTP) for environmental, approval, design, permitting

2024

Q2-Q4

VIPA its P3 Advisors and VIports Partners are working collaboratively during this period to:

Sign Transition Agreement (Completed April 5, 2024)

Advance terminal designs for HERA and CEKA

Conduct site investigations and building condition studies

Begin various permitting processes

Finalize construction budgets

Transition incumbent Airport employees

Engage with the Airlines and other Airport stakeholders

Develop Airport operating and maintenance standards

Develop business plan and air service growth plan

Transition Period Worksteams VIPA and VIports Partners will collaborate on:

  • Design/Construction & Permitting
  • Employee Transition
  • Airline Engagement
  • Business/Financial/Commercial
  • Operations & Maintenance
  • Legal and Project Documents
  • Regulatory
  • Communications and Outreach

2025

Q1

Sign P3 Project Agreement

Commercial Close

Financial Close

Q2

Construction at both airports begins

 

2026

Q4

Partial opening at both airports

2028

Q4

Construction completed