John Diumenti
7:51 - 9:01
“That's going to be the initial proposal to the FAA, and how that was calculated was by taking 5 years of operation from the golf course and averaging it out so that the actual rent that I'm proposing is the larger of $114,000 or 15.5% of their gross revenue. So from 2019 to 2024, that was basically the operational revenues exceeded the operational expenses by that much. They produced on average $114,000 of cash at about a 15.5% margin on average. I did not count the year 2025 because it was such a large— the net revenue, the net operational revenues exceeded operational expenses by $400,000. So I did not include that number in the expenses because it just seemed like there's no way to really account for how big it was.”
- Speaker
- John Diumenti
- Timestamp
- 7:51 – 9:01
- Transcript
- Palmer: Oct. 22, 2026, Airport Advisory
- Community
- Alaska News
- Captured at
- November 2, 2026
From the transcript
That's going to be the initial proposal to the FAA, and how that was calculated was by taking 5 years of operation from the golf course and averaging it out so that the actual rent that I'm proposing is the larger of $114,000 or 15.5% of their gross revenue. So from 2019 to 2024, that was basically the operational revenues exceeded the operational expenses by that much. They produced on average $114,000 of cash at about a 15.5% margin on average. I did not count the year 2025 because it was such a large— the net revenue, the net operational revenues exceeded operational expenses by $400,000. So I did not include that number in the expenses because it just seemed like there's no way to really account for how big it was.
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