Who We Are
Regional Airports Improvement Corporation ("RAIC") was organized on June 17, 1969 as a nonprofit public benefit corporation under the laws of the State of California (the “State”) for the purpose of assisting the City of Los Angeles (the “City”) by financing and otherwise acquiring, constructing, reconstructing, replacing, extending, enlarging, or improving airports, heliports, the facilities thereof. RAIC has no members, and all corporate powers are exercised by or under the direction of RAIC’s Board of Directors (the “Board”). RAIC’s articles of incorporation provide that RAIC is not organized for profit and that no part of the net earnings, if any, of RAIC, will inure to the benefit of any private shareholder or individual.
Why Use RAIC
RAIC provides a cost effective alternative to other financing options. RAIC has no paid employees, and its sole business is to assist the City in financing its airports and heliports. As a result, RAIC does not charge an application fee or transaction fee, or any ongoing monitoring fees, although applicants are responsible for the payment of RAIC’s actual costs and expenses incurred in connection with the proposed financing, including certain ongoing administrative costs and expenses.
RAIC has participated in approximately 38 projects at Los Angeles International Airport (the “Airport”) and has issued airport facilities lease revenue bonds in an aggregate principal amount of approximately $1,410,857,000. RAIC has also served as the nominal borrower under approximately $1,590,000,000 in credit facilities.
Each project and its proposed financing or refinancing requires the approval of the City’s Department of Airports, which approval is subject to the assertion of jurisdiction by the City Council of Los Angeles. The financing or refinancing of each project is separately secured, as appropriate, and the funds, accounts, and security pledged to the payment of each project financing is not available for the payment of any other project financing.
Application Process
RAIC accepts applications for financing throughout the year. To submit an application please follow the steps below.
- Download the Application
- Complete and Save It
- Create an Email Message
- Attach the Application
- Send the Message
If you have any questions, please Contact Us.
Contact us to learn more about RAIC.