TORONTO, February 19, 2019 – Fengate Asset Management (Fengate) is pleased to announce two recent United States public-private partnership (P3) industry awards recognizing, respectively, Mac Bell, Director and Head of P3 Investments, and a P3 project that Fengate is proud to be a part of.
Mac Bell has been recognized with the 2019 National Coalition for Public-Private Partnerships (NCPPP) Excellence in Private Sector Leadership Award for his innovative and visionary leadership in the North American P3 sector.
Building on his extensive P3 and power sector experience, Mac’s leadership has most recently driven the success of two P3 partnerships which will deliver, respectively, the US$2B Los Angeles International Airport (LAX) Consolidated Rent‐A‐Car (ConRAC) facility and the C$1.8B Edmonton Valley Line LRT.
Mac leverages his extensive P3 experience to build teams that can deliver high performance infrastructure assets benefiting client and community needs. He is responsible for opportunity analysis, bid direction and transaction execution, where he leads integrated multi-partner design, build, finance, operate and maintain (DBFOM) consortia through the development and financing of major transportation and power projects.
The LAX ConRAC facility has been named a finalist for the NCPPP Outstanding Emerging Project Award, which recognizes a future P3 project that exhibits extraordinary innovation and creativity in the form of concept, approach and use of technology.
Fengate is proud to be a part of the LA Gateway Partners, LLC (LAGP), the consortium selected by Los Angeles World Airports (LAWA) to design, build, finance, operate, and maintain the LAX ConRAC development project.
The LAX ConRAC is expected to be the 10th largest building in the US, featuring 6,600 ready/return parking stalls, 10,000 idle vehicle storage and 1,100 rental car employee parking spaces. It will be the largest ConRAC facility ever built and will consolidate the operations of more than 20 rental car locations, currently spread across properties surrounding the airport, and connect to LAX’s Central Terminal Area via an Automated People Mover (APM) train system.
The 28-year contract procurement project is a key component of LAWA’s US$5.5B Landside Access Modernization Program (LAMP); a comprehensive roster of capital improvement projects focused on a greatly enhanced LAX passenger experience, reduced traffic congestion, reduced carbon emissions and environmental impacts, increased operational efficiencies, and improved land use. The project’s scope also includes a package of improvements to the roadways surrounding the project site.
The project aligns design, construction and operations to ensure project decisions add value around guest experience, improved asset management, sustainability and inclusivity. Fengate hopes to see this innovative approach with the LAX ConRAC leading the way for the success of future P3 projects with US airports.
Please click here for the official NCPPP announcement.