The Indianapolis Airport Authority board on April 18, 2025 approved a mandatory supplemental ordinance to amend the authority’s bond documents and adopted a series of contracts and resolutions needed to support upcoming financing, construction and operations work at Indianapolis International Airport.

The action items included dedicating passenger facility and customer facility charge revenues to debt service for the forthcoming bond issue, approval of two foreign‑trade‑zone (FTZ) operator agreements, awards and amendments for multiple construction and maintenance contracts, a new valet service agreement, a Microsoft licensing agreement, an ARFF (Aircraft Rescue and Fire Fighting) truck foam conversion project, and a one‑month extension of hotel project professional services to provide owner’s‑representative coverage prior to a full contract.

Why it matters: the bond‑related ordinance and the irrevocable dedication of PFC/CFC revenues affect the authority’s ability to structure and market a revenue bond issue; FTZ approvals and contract awards influence local jobs and private investment in nearby industrial sites; the ARFF foam conversion addresses environmental and firefighter‑safety requirements; and the hotel owner’s‑rep extension advances a major terminal‑connected hotel project.

What the board approved

- Bond ordinance: The board held a public hearing and then adopted General Ordinance No. 01‑2025, a mandatory supplemental ordinance amending General Ordinance No. 5‑2014 and General Ordinance No. 4‑2024 related to the authority’s bond documents. The public hearing drew no public commenters and the board adopted the ordinance by roll call.

- Dedication of PFC/CFC revenues: The board approved an irrevocable dedication of passenger facility charge and customer facility charge revenues to pay debt service on outstanding revenue bonds for fiscal years 2026–2030 to support the planned bond issue.

- Human Resources Committee charter language (Resolution 03‑2025): The board adopted a Human Resources Committee charter amendment to clarify that compensation studies will be conducted every 24–36 months and that the committee may retain and approve terms for compensation consultants. Rachel Stevens presented the item and said the change aligns with governance best practices.

- Independent auditors and financial statements: The board accepted the independent auditor’s report and financial statements for the year ended Dec. 31, 2023, as recommended by the Finance & Audit Committee.

- Foreign‑Trade‑Zone operator agreements: The board approved FTZ operator agreements and sponsorship letters for True Brands (True Fabrications Inc.), a Seattle‑headquartered glassware designer seeking designation for a 202,000‑square‑foot facility in Greenfield employing about 100 people (grantee fees cited as $3,500/month, $42,000 annually), and for IWIS Drive Systems LLC for a newly constructed 104,000‑square‑foot Whitestown facility (56 employees; grantee fees cited as $2,500/month, $30,000 annually).

- Valet service agreement: Staff recommended and the board approved awarding the valet service agreement to Denison Parking Inc. Denison was the highest‑ranked proposer; staff said the firm is locally headquartered in Indianapolis and has about 529 employees within a 50‑mile radius. The contract term presented is a three‑year initial term with options to extend (up to the previously used seven‑year structure). Two board members recorded abstentions on this vote (see “Votes at a glance”).

- Microsoft/Dell licensing: The board approved a three‑year Microsoft licensing/support agreement, with an initial annual cost presented as $311,982.77 for licensing and security products covering roughly 600 users. Reed Goldsmith noted the item is “dry even by IT standards.” The board discussed but did not commit to wider Copilot deployment in this vote.

- Construction and maintenance contracts and amendments: The board approved multiple capital contracts and amendments, including road rehabilitation (EMB Paving — award not to exceed $1,994,576.39 plus 10% construction reserve for a total of $2,194,034), a smaller QTA road segment ($216,607.30), a people‑moving equipment evaluation amendment (CDA Inc., amount cited not to exceed $182,287), parking garage maintenance design (RC Engineers, $155,478), and other parking/lot pavement amendments.

- ARFF truck foam transition: The board approved contracting BDM Smith to perform cleaning and conversion work on ARFF vehicles so the airport can replace legacy firefighting foam formulations (the presenter described those formulations as “forever chemicals”). The presentation noted the work includes decontamination and either transfer of existing foam to military use or supervised destruction per regulatory guidance.

- Hotel project owner’s‑rep extension and insurance: The board approved Amendment No. 3 with The Lauterbach Group (Lauterbach Group) for a one‑month extension of professional services for the terminal‑connected hotel project in an amount not to exceed $98,000 to preserve continuity while staff seeks a longer owner’s‑representative contract for board approval in May. The board also approved a builder’s‑risk insurance quote with Zurich American Insurance in an amount not to exceed $321,997; staff said that insurance cost is already budgeted in the hotel project budget.

Votes at a glance (select items)

- General Ordinance No. 01‑2025 (mandatory supplemental bond ordinance) — adopted (roll call; no public commenters recorded during the hearing).

- Board memo re: PFC/CFC dedication — approved (resolution recorded as 02‑2025 in the board paperwork; one recorded Nay by Tim Powers on the roll call for that resolution).

- Resolution 03‑2025 (Human Resources Committee charter amendment) — adopted.

- Independent auditors report & financial statements (year ended Dec. 31, 2023) — accepted.

- BP2025‑04‑05 (FTZ operator agreement & sponsorship letter for True Brands) — approved.

- BP2025‑04‑06 (FTZ operator agreement & sponsorship letter for IWIS Drive Systems LLC) — approved.

- BP2025‑04‑07 (Valet service agreement to Denison Parking Inc.) — approved; two abstentions noted (Kevin McClainmark and Kurt Schleeder recorded as abstaining on the roll call).

- BP2025‑04‑08 (Microsoft licensing and support; Microsoft/Dell) — approved (initial yearly cost cited in staff presentation: $311,982.77).

- BP2025‑04‑11 (Rehabilitate airport roads — EMB Paving) — approved (award and 10% construction reserve; total cited $2,194,034).

- BP2025‑04‑12 and related parking/garage items (RC Engineers and others) — approved (amounts and contract amendments as presented).

- BP2025‑04‑14 (ARFF foam transition; BDM Smith) — approved.

- BP2025‑04‑15 Action 1 (Amendment No. 3 with The Lauterbach Group — one‑month extension for hotel owner’s rep) — approved (amount not to exceed $98,000); board members requested additional detail on the extension staffing and hours after the vote.

- BP2025‑04‑15 Action 2 (Builder’s‑risk insurance — Zurich American Insurance) — approved (amount not to exceed $321,997).

Details, dissent and next steps

Board discussion was generally brief and procedural for most items. A few topics drew more substantive attention: the Human Resources Committee charter amendment was presented as an alignment with common compensation‑study practices (2–3 years). On the software contract, board members asked whether Microsoft Copilot would be included; Reed Goldsmith said Copilot is not part of the initial quote but staff expects to pilot a limited deployment and would return with a full quote for broader purchases. On the hotel owner’s‑rep extension, at least one board member pressed for a post‑vote breakdown of the $98,000 one‑month cost; staff said the extension covers four people (two full time, one at 75%, and the principal at 50% capacity) and that a more detailed fee schedule will accompany the forthcoming owner’s‑rep contract.

Quotes from the meeting

- Reed Goldsmith, staff presenter on the Microsoft licensing item: “I wish I could make this really, really exciting and interesting, but this is dry even by IT standards.”

- Garrett (presenter on ARFF foam transition): “The particular chemical formulas in that are considered to be forever chemicals.”

What the minutes show going forward

Staff indicated the bond work and related dedication of revenues are in support of a near‑term bond issuance; several capital projects (roads, garage maintenance) were presented as part of ongoing multi‑year maintenance programs. The hotel project owner’s‑rep extension will be followed by a recommended owner’s‑rep professional services agreement for board consideration at the May 16, 2025 meeting. Several contracts include multi‑year terms or options to extend; the board recorded abstentions where conflict or direct interest was noted and a single recorded Nay on the PFC/CFC dedication item (Tim Powers).

Speakers quoted or cited in this summary are those who presented or asked substantive procedural questions on items on the April 18 agenda.