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