Certification of Compliance

Transcription

1 Certification of Compliance Thi s Certification is del ivered by LaGuardia Gateway Partners, LLC (the "Obligated Person") pursuant to that certain Disclosure Dissemination Agent Agreement dated as of May 1, 2016 (the "Agreement") between the Obligated Person and Digital Assurance Certification. L.L.C., as exclusive Disclosure Dissemination Agent ("DAC"). The Obligated Person hereby certifies to DAC that the attached document is required to be submitted to the Municipal Securities Rulemaking Board's Electronic Mun icipal Market Access system under the Agreement in relation to the Obligated Person's obligations set forth on Exhibit A hereto: Monthly Report for the month ended October 31, 2016 Dated: J ) J.,l~).:(o/IP --~~~=-=+,~ LAGUARDIA GATEWAY PARTNERS, LLC tljdojf~ Name: fo1t'chtjte/ /2..f,h)t'o-- Title: GPo

2 Exhibit A NAME AND CUSIP NUMBER OF BONDS NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION SPECIAL FACILITIES BONDS, SERIES 2016A (TAX-EXEMPT) {AMT) (LAGUARDIA AIRPORT TERMINAL B REDEVELOPMENT PROJECT) Maturity Date Principal Amount Interest Rate CUSIP 7/ 1/2030 7/ 1/2031 7/1/2032 7/l/2033 7/ l/2034 7/ / 1/2036 7/1 /2037 7/ 1/2041 7/ 1/2041 7/ 1/ /2046 1/ l/2050 1/1 /2051 $ I 0, I 00, ,000 44,230,000 49, 190,000 54,560,000 60,490,000 66,3 10,000 72,450, ,000, , 160, ,000, ,6 10, ,050, ,700, % AUO AH AJ AK ALO 650ll6AM AN API AS AQ AW AR AV AT3 NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION SPECIAL FACILITIES BONDS, SERIES 2016B (TAXABLE) {LAGUARDIA AIRPORT TERMINAL B REDEVELOPMENT PROJECT) Maturity Date Principal Amount Interest Rate CUSIP 7/1 /2024 $ 7, 150,000 1/ ,920, /2025 8,720,000 1/1 /2026 9,540,000 7/l/ ,380,000 7/ l/ ,390, / ,050,000 7/1 / ,920,000 7/ 1/ ,930, % AX A Y AZ9 650 ll6ba3 650Jl6BB I BC9 6501l6BD7 6501l6BE BF2

3 LaGuardia Gateway Partners, LLC Disclosure Dissemination Agent Agreement Requirement Month of October, 2016 Section 3M(a)(i) An assessment of the overall construction progress of the D&C Work since September 30, 2016: DESIGN Design Development Construction Documents Pending Approval/Under Review by Port Approved this month by Port New Facilities New Improvements Central Hall Complete Schematic Design -100% Headhouse and Concourse A/B 100%. Final reviews underway by LGP and the Port Concourse B PBS and Temporary Connector Headhouse Building Enclosure 60% Headhouse Structural Steel 100% Headhouse U/G Utilities 100% Cooling Towers (Perm.) 75% Concourse B Temp. Heating & Cooling 60% Airside Package 3 100% CHRP MEP/FP Systems/Architectural Airside Drainage Package (2) resubmitted CHRP Structural Steel Frontage Roads - Superstructure HH Foundations/U/G Utilities Concourse B Structural CHRP Foundations Demolition and Fit out of temporary space for LGP Staff (LGP submittal) Frontage Roads substructure East Roadway Bridge structures range from 60%-90% complete (several packages) West Roadway Bridges structures range from 60% - 90% complete (several packages) WPG Signage & Wayfinding WPG Architectural & MEP West Road multiple bridges (sub/super structure) Landside site wide Package 3 3 rd Exit Lane and Direct Connect 94 th street. On hold

4 CONSTRUCTION Activity Location Description NF NI Concourse B Foundations Landside/ Airside East Approximately 179 piles driven (34%) 160 ft deep, two pile rigs avg. 4 piles per day, a third rig has been mobilized for test piles P2 Garage Landside 50% demolition complete West Separation and recycling of materials (concrete/steel) ongoing CHRP Landside Utility relocates complete Pre-Augured 160 holes in advance of pile driving. Utilities Landside Utility relocation within CHRP footprint complete Temporary Cooling Tower burn-in period complete, final inspections underway with acceptance in early November Major Utilities Package #2 underway near East Substation/Terminal C (Delta Frontage) West Parking Landside Approximately 755 of 792 piles driven Garage (WPG) West Piles caps at 70% and grade beams at 50% completion WPG utilities 90% complete Precast members in fabrication, 495 complete Aluminum Envelope fins 20% fabricated Backfilling to grade underway Retaining wall south side 70% complete 102 nd Street Landside Bridge narrowed to one lane in October Bridge East Temporary shoring to support demolition 90% complete Roadways Landside Delta Terminal C ground level road shift transitioned in October Additional temporary road shifts prepped for November transition 3 rd lane exiting Arrivals and direct connect approved by the Port in late October. Target completion in advance of Thanksgiving holiday Extending Taxi stand canopy as interim measure for P3 Taxi operation. Anticipated to be in place into January 2017 Piling for elevated Roadway Structures East underway Building 30 Landside Asbestos Abatement complete, selective demolition underway

5 Gate A1/A4 Airside PBB at Gate A1 activated and in service. Renovations at Gate A1 90% complete Jet Blue removed gate A4 Taxi A - Drainage Airside Work commenced mid October after additional delays. Work is approximately 10 days ahead of schedule. Preparing for Capture of Phase 1A (main airside zone east of Pier A) in early November Central Hall No construction. Section 3M(a)(ii) A detailed description of any material delays encountered or anticipated in connection with the D&C Work and a reasonably detailed description of the proposed course of action with respect to such delay: Delays were encountered on the airside, beginning in July. The Design-Builder provided a recovery schedule in August that did not impact Major Milestones. However, this delay continued into September and early October. The Lessee is working with the Design Builder on a recovery schedule or an alternative solutions report to address the delay, which is associated with a Lessee delay event submitted to the Port, as it relates to certain approvals associated with the start of airside work. On June 30, 2016, the New York City Department of Buildings issued a Commissioner s Order regarding Crawler Crane Safety Requirements, which established new requirements for the use of crawler cranes, including those that may be used in the construction of the Construction Project. The issuance of this order is a Change in Law under the Lease between LGP and the Port. In a letter dated August 3, 2016, LGP notified the Port that LGP believes this Change in Law constitutes a Delay Event and a Compensation Event entitling LGP to certain compensation from the Port and to the extension of certain construction milestones and activities. LGP is currently in discussions with the Port and with the Design Builder to determine the anticipated schedule and cost impact resulting from the issuance of this order; no definitive determination has yet been reached as to if there is a schedule and cost impact, or what the impact might be to schedule and costs or with respect to any relief to which LGP might be entitled under the Lease as a result of such Change in Law. Discussions amongst the SWJV, LGP and the Port are ongoing and no definitive determination regarding schedule or cost has been achieved; however, it appears schedule impacts can largely be mitigated by the use of alternate cranes. Cost impacts are being reassessed by the Design Builder. Section 3M(a)(iii) No written proposal of the Obligated Person has been made to suspend or abandon the Project. Section 3M(a)(iv) No New Facilities Construction Milestones have been achieved, nor has LaGuardia Gateway Partners, LLC failed to achieve a New Facilities Construction Milestone, and therefore, no transfers to the Debt Service Reserve Account have been made.