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So Michael: Now that EDC is washed up, who is going to float the $170 million in bonds that is in the approved state budget for RIAC?

Interest alone would about $13 million per year based on the 38 Studios situation. (8%) Then you need another $4 million or so for amortization to come to $17 million per year of debt service. That comes out to $10 per passenger per flight for the next 30 years -- all of which comes from parking or landing fees. Since the airlines are maxed out already and are dropping down to smaller and smaller planes to save on landing fees, the answer becomes increased parking fees. Given that only about a third of passengers actually park here - half come in from other places and many passengers come in as couples or families, that means you need to increase parking fees to about $40 per day - a number that is not unheard of at some other airports. The off site parking lots will kill you under this scenario because there is no way that RIAC can charge these businesspeople $30 per day in access fees.

This is the doomsday scenario you are painting with your vision of Rhode Island's priorities.

From: Runway safety areas ‘considerably’ more costly than projected

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