February 2026 Meeting Minutes

Open­ing:

The Board Meet­ing of the Pana­ma City-Bay Coun­ty Air­port and Indus­tri­al Dis­trict was called to order at 9:00 a.m., Feb­ru­ary 25, 2026 by Chair Mark Sheldon. 

Roll was called. In atten­dance were: Mr. Les McFat­ter, Mr. Glenn McDon­ald, Ms. Hol­ly Melz­er, Vice Chair Will Cramer, and Chair Mark Shel­don. Absent: Ms. Vic­to­ria Williams, Mr. Matt Algarin

The Invo­ca­tion was giv­en by Chair Mark Sheldon.

The Pledge of Alle­giance was led by Ms. Hol­ly Melzer. 

Chair Shel­don asked if there were any Pub­lic Com­ments. There were no Pub­lic Comments. 

Chair Shel­don asked if there were any items on the Amend­ed Agen­da, includ­ing the Con­sent Agen­da, that any Board Mem­ber would like to move to a Busi­ness Item for fur­ther dis­cus­sion, and if not, that a Board Mem­ber make a motion to accept the Amend­ed Agenda. 

Mr. McDon­ald made a motion to accept the Amend­ed Agen­da and Mr. McFat­ter sec­ond­ed the motion. The vote was tak­en and the motion passed unanimously.

Reports:

Air­port Activity:

Exec­u­tive Direc­tor Park­er McClel­lan updat­ed the Board on the Activ­i­ty Reports, stat­ing the month of Jan­u­ary expe­ri­enced an 8.91 per­cent growth, great num­bers for Jan­u­ary. We’re main­tain­ing the mar­ket share at 20 percent. 

Finan­cial Report:

Ms. Beth Har­less pre­sent­ed the Finan­cial Reports for the four (4) months end­ing Jan­u­ary 31, 2026. 

At the end of Jan­u­ary, the unre­strict­ed cash is $39.7 mil­lion and restrict­ed cash is $22.03 million. 

Cur­rent Lia­bil­i­ties; our high­est line item is Accounts Payable at $7.8 mil­lion (which is extreme­ly high.) This includes the set­tle­ment pay­ment to the air­lines of $5 mil­lion and $2 mil­lion in con­struc­tion pay­ments. The remain­ing $800,000 in payables is about our aver­age month­ly expenses.

Excess rev­enues over expens­es, reflect $4.3 mil­lion total year-to- date.

The Income State­ment high­lights our three high­est pro­duc­ing rev­enues of Air­line Land­ing Fees at 106% over bud­get, Car Rentals are 103% over bud­get, and Park­ing at 98.54% of bud­get, which is down 1.5% but will pick up dur­ing the next sev­er­al months (spring break and summer).

Year-to-date oper­at­ing rev­enues of $7.78 mil­lion are exceed­ing bud­get by $142,000, which equates to 101% of budget. 

Gen­er­al Oper­at­ing expens­es are 89.55% of bud­get. Oper­at­ing rev­enue over expens­es equals $2.9 mil­lion of the excess while the non-oper­at­ing rev­enues make up $1.4 million.

Per­son­nel expens­es are 99% of bud­get YTD, there are 87.5 posi­tions with 4 vacan­cies for the month end­ing Jan­u­ary 31, 2026. 

Con­sent Agenda:

1. Approve Board Meet­ing Min­utes – Jan­u­ary 28, 2026

This item pro­vides for Board approval of the Jan­u­ary 28, 2026 Board Meet­ing Minutes.

Mr. McDon­ald made a motion to accept the Con­sent Agen­da and Ms. Melz­er sec­ond­ed the motion. The vote was tak­en and the motion passed unanimously.

Busi­ness Items:

a. Review and Adopt FY 2025 Finan­cial Audit Report 

Mr. Eas­t­on Ramer with Tip­ton, Mar­ler, Gar­ner & Chas­tain pre­sent­ed the audit­ed finan­cial state­ments for the year end­ing Sep­tem­ber 30, 2025. Mr. Ramer high­light­ed sev­er­al areas of the Audit and report­ed there were no issues found in the Audit.

Vice Chair Cramer made a motion to accept FY 2025 Finan­cial Audit Report and Ms. Melz­er sec­ond­ed the motion. The vote was tak­en and the motion passed unanimously.

b. Approve Change Order – Final with Dominguez Design Build for Ter­mi­nal Build-Out

Mr. McClel­lan stat­ed Dominguez Design was delayed by 363 days and the Air­port began seek­ing a process to recov­er liq­uid dam­ages of over $300,000.

Legal coun­sel and Staff rec­og­niz­ing the lengthy delay and impact to the Air­port rec­om­mend­ed 263 days of liq­ui­dat­ed dam­ages. The pro­pos­al of 263 days was pre­sent­ed to DDB and their legal coun­sel and accept­ed. Staff and Legal Coun­sel rec­om­mend approval of the Close­out Change Order.

Dis­cus­sion ensued.

Vice Chair Cramer made a motion to accept the Change Order Approval and Mr. McFat­ter sec­ond­ed the motion. The vote was tak­en and the motion passed unanimously.

Con­struc­tion Updates (Infor­ma­tion Only)

a. Cardel­la

Mr. Trip Vaughn rep­re­sent­ed Cardel­la with an update on the fol­low­ing items:

Ter­mi­nal Expan­sion Project ongo­ing activities: 

• FPL con­duit install;

• Site demo­li­tion;

• Tem­po­rary fiber install;

• Site grad­ing & export;

• Crane road construction;

Upcom­ing activities:

• Shal­low plumb­ing & elec­tri­cal rough-in;

• Grease trap & sew­er line install;

• Con­crete foundations;

b. Ardur­ra Group

Mr. Aaron Boub rep­re­sent­ed the Ardur­ra Group with the fol­low­ing updates:

• Water pres­sure analy­sis of flow rate tests antic­i­pat­ed March 1^st;
• RAC Blue­beam ses­sion open­ing March 1^st for com­ments. For­mal 60% page-turn design review antic­i­pat­ed by March 8;
• Ongo­ing Design Coor­di­na­tion Efforts with AVCON for the following:
  • Com­ple­tion of IT/​communication/​security sys­tems design efforts for NTEP, TSA expan­sion and site;
  • CA ser­vices for IT/​communication/​security systems;
• Bag­gage Han­dling Systems; 
• Pas­sen­ger Board­ing Bridges;
  • Per­for­mance Spec­i­fi­ca­tion Design Package;
  • Con­struc­tion Admin­is­tra­tion Services;

c. AVCON

Ms. Tonya Nation pro­vid­ed an update on the fol­low­ing ongo­ing projects:

• Sub­mit­tals, requests for infor­ma­tion (RFI’s) are being processed; 
• Con­struc­tion Admin­is­tra­tion and inspec­tion pro­vid­ed by the design team as required;
• Temp Road Diver­sion (TRD) shift com­plete and MOT being eval­u­at­ed as need­ed to ensure that the traf­fic pat­terns is smooth pri­or to Spring Break;
• AOA Fence inspect­ed and approved;
• Stormwa­ter Mas­ter Plan:
  • ERP and Gen­er­al Per­mit App;
  • Sub­mit­ted to FDEP for Review;
  • Eval­u­at­ing ditch sizes and configurations;
• Fuel Farm design:
  • 60% com­plete;
  • Plans to be bid in April;
• Qual­i­fied Mit­i­ga­tion Super­vi­sion (QMS) is ongoing:
  • Month­ly report sub­mit­ted for Agen­cies for review;

Project/​Planning Updates (infor­ma­tion only)

Mr. McClel­lan pro­vid­ed the project updates on behalf of Bay Coun­ty EDA.

a. IAG Aero Group

1. Work­ing with Legal Coun­sel on an RFQ for the build­ing and devel­op­ing as Site Devel­op­ment Plan reflect­ing future plans.

b. Pre­mière Aviation

i. A Fund­ing Plan has been devel­oped and Pre­mière is expect­ed to be 

• mov­ing for­ward in the near future. At the March Meet­ing, there will 

be an exten­sion of the Tri­umph Agree­ment autho­riz­ing an extension.

c. Flori­da Nation­al Guard – John­ny Reaver Road

i. They are expect­ing to receive full occu­pan­cy approval in the next 30- 

days.

d. Flori­da Nation­al Guard – Lisen­by Avenue

i. Appraisal recent­ly received. Work­ing with the FAA for release of the 

property.

BAY EDA Update (infor­ma­tion only)

a. IAG and Pre­mière are underway.

b. ​“Project Picas­so” an MRO from the Mid­west has a sec­ond site vis­it next 

Tues­day. Poten­tial for 600 high wage jobs and $75 mil­lion cap­i­tal investment.

c. We’re attend­ing MRO Amer­i­c­as at the end of April with the fol­low­ing scheduled 

meetings:

a. Project Venus, inter­na­tion­al MRO;

b. Project Horus, MRO;

c. Project Super Bowl, defense con­tract­ing company;

d. Project Pega­sus, defense relat­ed project, would bring in 400 jobs with 

salaries at $125,000 per year, $750 mil­lion cap­i­tal investment;

Exec­u­tive Direc­tor Report: 

Mr. McClel­lan report­ed that Board Mem­ber Hol­ly Melz­er was reap­point­ed by the Coun­ty Com­mis­sion Board to serve on the Air­port Board through 2030.

The Board Strate­gic Plan­ning efforts will resume in March.

The Air­port reject­ed all three (3) Con­ces­sions pro­pos­als. The RFP has been rewrit­ten and is now under final review with Counsel.

Staff is craft­ing and RFP for an Exec­u­tive Search firm to replace the CFO position. 

Staff is con­duct­ing a Dis­as­ter Drill tomor­row as is required by the FAA every three (3) years.

We have received from Cardel­la the CGMP #2, but haven’t heard from the Notice of Fund­ing Oppor­tu­ni­ties (NOFO) about project fund­ing. We are pri­or­i­tiz­ing items that can be done to move forward.

Our Finan­cial team is work­ing with finan­cial advi­sor, John Ford, on the TIFIA appli­ca­tion for the fund­ing of the North Ter­mi­nal Expan­sion Project. 

There were no addi­tion­al pub­lic comments. 

Next meet­ing sched­uled: Board Meet­ing: March 25, 2026 – 9:00 a.m.

The meet­ing was adjourned at approx­i­mate­ly 9:35 a.m.

­­­­­­­­_______________________________ ___________________________

Park­er W. McClel­lan, Jr., AAE Mark Shel­don, Chair 

Exec­u­tive Director