Notice of Public Hearing on Proposed Bonds or Other Obligations to be Issued by the Capital Region Airport Commission with Respect to Richmond International Airport

RICHMOND, Virginia (November 4, 2009) - Notice is hereby given that the Capital Region Airport Commission (the "Commission") at its scheduled monthly business meeting on Tuesday, November 24, 2009, commencing at 8:00 a.m. in the Commission's Board Room, located in the Airport Terminal Building, 1 Richard E. Byrd Terminal Drive, Richmond International Airport, Virginia, 23250, will hold a public hearing concerning the issuance of bonds or other obligations by the Commission pursuant to a plan of financing for facilities to be owned by the Commission and located as a part of Richmond International Airport (the "Airport"), in Henrico County, Virginia.

The Commission's plan of financing includes the issuance of obligations in a total maximum amount now estimated not to exceed $200 million to finance any or all of the following projects:

(1) the acquisition, construction and equipping of expansions to the Commission's terminal building, canopies from the terminal building to the Commission's parking facilities, and improvements to the terminal's facilities, systems and equipment (including ticket counters, offices, baggage make-up and claim devices and utility equipment);

(2) the acquisition, construction and equipping of expansions to the concourse and administrative areas of the terminal building, including additional concession areas, airline operations areas, public circulation areas, federal inspection facilities, ticket counters, offices and passenger holdrooms for additional gates in Concourses A and B, and including passenger loading bridges;

(3) the acquisition, renovation and equipping of upgrades, improvements and refurbishments to the heating - ventilating - air conditioning system and the interior areas (including furnishings and tenant build-outs/finishes) of the terminal building and the concourses thereto;

(4) the construction and equipping of security and screening facilities at the Airport including the terminal building and the concourses thereto, including bulk baggage screening, security checkpoints, and space and equipment for screening agencies, companies, personnel and the foregoing;

(5) the acquisition, construction, reconstruction and equipping of the ingress and egress terminal area roadways, including the construction and signage of major roadway improvements for Airport Drive and other ancillary roadways including structures for traffic separation, realignment and relocation of existing roadways and parking facilities, and site improvements with respect thereto;

(6) the acquisition, construction and equipping of an office/administration, maintenance and warehouse building and related real estate;

(7) the acquisition, construction and equipping (including site work) of a building or buildings of up to 400,000 square feet for air cargo, commercial development and other aviation-related purposes and to serve the Commission's foreign trade zone, such projects to include associated office space, ancillary roads, site infrastructure and equipment;

(8) the acquisition (including related land and associated rights in respect thereof), construction, reconstruction, expansion, improving and equipping of (i) additional public parking facilities, including satellite parking facilities (5,000 spaces), additional structured parking facilities adjacent to the existing public parking garages (2,800 spaces), structured parking facilities adjacent to the terminal building (1,000 spaces), and related vehicle servicing facilities, (ii) improvements to the rental car storage and ready/return facilities, including the rental car ready/return garage adjacent to the terminal building to accommodate additional vehicles, and related vehicle servicing facilities, and (iii) additional employee and tenant parking facilities;

(9) the renovation, expansion, conversion and equipping (including site work) of current and future aircraft hangars of up to 400,000 square feet for general aviation, air cargo and aircraft maintenance purposes, and the acquisition, construction and equipping of additional facilities, including aircraft hangars, for air cargo (including for transportation logistics, intermodal purposes, and package sorting, distribution, and delivery), aircraft storage and aircraft maintenance by commercial entities and governmental agencies;

(10) the construction, reconstruction, extension or rehabilitation of aircraft parking aprons, taxiways and runways, including, but not limited to, the extension of Runways 16-34 and 2-20, and the costs of land acquisition related thereto and associated rights in respect thereof and costs incident thereto;

(11) the construction, reconstruction, rehabilitation, extension and upgrade of the Commission's infrastructure facilities, including its water, sewer, de-icing, drainage and stormwater management systems and other utilities;

(12) the development and redevelopment of the areas formerly used by the Virginia Air National Guard, including the relocation of current Airport tenants and the construction and equipping of fixed base operators, aircraft storage and aircraft maintenance facilities and infrastructure in support thereof;

(13) the acquisition of land for general airport purposes, construction, renovation or relocation of other functionally related and subordinate facilities in and around the Airport and the projects set forth above; and

(14) the funding of debt service reserve and other reserve funds, the costs of design and engineering of any part of the foregoing projects, and the costs of issuance of the obligations referred to herein, including the costs of any credit enhancement for such obligations and interest on them during and for up to one year after the completion of any of the projects set forth above.

The Commission's plan of financing also includes the issuance of up to $200 million of obligations to refund indebtedness incurred to finance any of the foregoing projects, as well as the refinancing from time to time of the Commission's outstanding indebtedness if deemed advantageous by the Commission. Proceeds of such outstanding indebtedness financed capital projects at the airport.

The public hearing, which may be continued or adjourned, will be held at 8:00 A.M. on November 24, 2009, before the Commission in the Commission's Board Room, located in the Airport Terminal Building, 1 Richard E. Byrd Terminal Drive, Richmond International Airport, Virginia, 23250. All interested persons are invited to submit written comments at the public hearing regarding the facility improvements, the issuance of the Commission's bonds or other obligations and the plan of financing. Persons wishing to make oral comments or to submit written comments should do so at the office of the Commission by telephone at (804) 226-3011 or in writing at the Capital Region Airport Commission, 1 Richard E. Byrd Terminal Drive, Richmond International Airport, Virginia 23250-2400, not later than 5:00 P.M., November 20, 2009. A general description of the plan of financing of the facilities to be financed is available at the office of the Commission's Chief Financial Officer, at the address set forth above.

As required by the Act, the obligations shall not be a debt of the Commonwealth of Virginia or any political subdivision thereof, other than the Commission, and neither the Commonwealth of Virginia nor any political subdivision thereof, other than the Commission, shall be liable thereon, nor shall such bonds be payable out of funds or properties other than those of the Commission.

Capital Region Airport Commission
By: Jon E. Mathiasen, AAE, President and CEO