The Indianapolis Airport Authority board on April 18 approved a package of financial and operational items including a mandatory supplemental ordinance tied to an upcoming bond issue, an irrevocable dedication of passenger facility and customer facility charge revenues to debt service, a Human Resources Committee charter amendment setting a 24-to-36-month cadence for compensation reviews, and multiple procurement awards for contracts and project amendments.

The board opened and closed a public hearing on General Ordinance No. 01-2025, described by staff as a mandatory supplemental ordinance to amend prior ordinances related to the authority's outstanding bond issue. The meeting record shows the ordinance was moved, seconded and approved by roll call.

In a related financing action, the board voted to irrevocably dedicate revenues collected from passenger facility charges (PFCs) and customer facility charges (CFCs) to pay debt service on the authority's outstanding revenue bonds for fiscal years 2026–2030. Staff described the dedication as required by the authority's bond ordinance and as part of preparations for an upcoming bond issue; the board approved the resolution by roll call vote (one board member recorded a Nay on the dedication resolution).

The board also adopted Resolution No. 03-2025 to revise language in the Human Resources Committee (HRC) charter, specifying that a market compensation review be conducted every 24 to 36 months and that the HRC may retain and approve fees for compensation consultants. Staff said the change was recommended by the HRC at its March 21 meeting and framed as a good-governance alignment with market best practices.

On oversight and finance, the board accepted the independent auditors' report and audited financial statements for the year ended Dec. 31, 2023, as reviewed by the finance and audit committee. Board members praised staff and the auditors for the work reflected in the report.

Procurement and capital items approved included: award of a valet service agreement to Denison Parking Inc. after a competitive RFP; Foreign Trade Zone (FTZ) operator agreements and grantee sponsorship letters for True Brands (Greenfield facility) and for IWIS Drive Systems LLC (Whitestown facility); a three-year Microsoft licensing and support agreement with an initial annual cost presented to the board; multiple construction and maintenance contract awards and amendments for parking-lot and roadway rehabilitation, terminal people mover equipment evaluation and parking garage maintenance; and an award for remediation and conversion work on airport aircraft-rescue-and-firefighting (ARFF) truck foam systems to address replacement of legacy foam formulations. Staff described the foam work as necessary to enable the airport to transition to more environmentally friendly firefighting agents and explained the process includes extensive cleaning or replacement of truck systems and proper disposal or transfer of existing foam stock.

The board approved a one-month extension of professional services with The Louderback Group to provide interim owner's-representative services on the terminal hotel project at a cost noted in the board materials; staff told the board the extension would bridge to a longer owners-rep contract to be presented at the May 16 board meeting. In the same package the board approved a builder's-risk insurance quote for the terminal hotel project.

Votes at a glance (selected agenda items):
- General Ordinance No. 01-2025 (mandatory supplemental ordinance related to bond issue): approved by roll call vote.
- Resolution to irrevocably dedicate PFC/CFC revenues for debt service (covers fiscal years 2026–2030): approved by roll call vote; one Nay recorded.
- Resolution No. 03-2025 (HRC charter language: compensation study every 24–36 months): approved by roll call vote.
- Independent auditors' report and financial statements (year ended Dec. 31, 2023): approved unanimously by roll call vote as reported.
- FTZ operator agreements and grantee sponsorship letters (True Brands, IWIS Drive Systems LLC): approved by roll call votes.
- Valet service agreement award to Denison Parking Inc.: approved by roll call; two abstentions recorded.
- Microsoft licensing and support agreement (three-year term; initial yearly cost reported to board): approved by roll call vote.
- Multiple construction/maintenance contract awards and amendments (parking-lot rehabilitation, roads and lots, people-mover equipment assessment, parking garage maintenance): approved by roll call votes; several items included one or two abstentions as noted in the meeting record.
- ARFF truck foam transition contract (environmental remediation and foam conversion work): approved by roll call vote.
- One-month extension with The Louderback Group for owners-rep services (hotel project) and related builder's-risk insurance: both approved by roll call votes.

Board members asked clarifying questions during discussion on several items: the extent and term structure of the Denison Parking valet agreement (initial three-year term with options to extend), the monthly and annual grantee fees for FTZ participants, the initial-not-to-exceed presentation of Microsoft licensing (with Copilot referenced as a potential additional deployment to be brought back to the board), and further detail on the Louderback Group extension (the board asked for more detail about the $98,000 one-month amount and staffing included). Staff committed to provide additional detail on request and to return with the longer owners-rep contract for board consideration at the May 16 meeting.

The board adjourned at the close of the agenda with its next regular meeting scheduled for May 16, 2025, at 8 a.m.