March 2025 Meeting Minutes

Open­ing:

The Board Meet­ing of the Pana­ma City-Bay Coun­ty Air­port and Indus­tri­al Dis­trict was cal1ed to order at 9:00 a.m., March 26, 2025 by Chair Mark Sheldon.

The Invo­ca­tion was giv­en by Mr. Les Mcfatter.

The Pledge of Alle­giance was led by Mr. Glen McDonald.

Roll \:Vas called. In atten­dance were: Ms. Vic­to­ria Williams, Mr. Matt Algar­in, Mr. Les Mcfat­ter, Ms. Hol­ly Melz­er, Mr. Glen McDon­ald, Vice Chair Will Cramer, and Chair Mark Sheldon.

Pub­lic Comment:

Chair Shel­don asked ifthere were any Pub­lic Com­ments. There were no Pub­lic Comments.

Accep­tance of Agenda:

Chair Shel­don asked ifthere were any items on the 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 Mem­ber make amo­tion to accept the Amend­ed Agen­da. Mr. Cramer made a motion to accept the Amend­ed Agen­da, and ·Mr. McFat­ter sec­ond­ed the motion. The vote was tak­en and the motion passed unanimously.

Reports:

Mr. Park­er McClel­lan updat­ed the Board on the Feb­ru­ary activ­i­ty reports. Mr. McClel­lan dis­cussed the small reduc­tion in pas­sen­gers year over year, staff will con­tin­ue to mon­i­tor pas­sen­ger activ­i­ty. The Region­al Mar­ket Share was main­tained with­in the 20% mar­gin for the month. The Region­al Com­par­i­son con­tin­ues to show the Air­port with sig­nif­i­cant growth.

Ms. Dar­lene Gor­don pre­sent­ed the Finan­cial Reports for the five months end­ing Feb­ru­ary 28^th. At the end­of Feb­ru­ary, the total cash reflect­ed an increase of $2.5 mil­lion from Jan­u­ary with a total bal­ance of $53.7 mil­lion. Ms. Gor­don also report­ed that unre­strict­ed cash is $36.1 mil­lion and restrict­ed cash is $17.6 mil­lion. Com­pared to Feb­ru­ary oflast year unre­strict­ed cash is up $7.3 mil­lion and restrict­ed cash is up $3.5 mil­lion for a total increase from Feb­ru­ary last year of $10.8 million.

In Feb­ru­ary 2025, total lia­bil­i­ties increased $1.67 mil­lion from Jan­u­ary, due to ongo­ing con­struc­tion costs. Ms.Gordon reviewed excess rev­enues over expens­es, which reflect­ed a $7.2 mil­lion fis­cal year-to-date total. Oper­at­ing rev­enue over expens­es totals $2.8 mil­lion of the excess while the non-oper­at­ing rev­enues make up $4.4 mil­lion. The excess rev­enues over expens­es increased $2.7 mil­lion in the month of Feb­ru­ary, the major­i­ty of that increase com­ing from grants and PFC revenues.

The Income State­ment reflect­ed year-to-date oper­at­ing rev­enues of $8.2 mil­lion and arc exceed­ing bud­get by $72,000, which equates to 101% of budget.

Per­son­nel expens­es are 92% of bud­get YTD and gen­er­al oper­at­ing expens­es are 91% of the bud­get to date.

Dis­cus­sion ensued.

Con­sent Agenda:

a. Approve Board Meet­ing Min­utes — Feb­ru­arv 19, 2025

This item pro­vides for Board approval of the Feb­ru­ary 19, 2025 Board Meet­ing Minutes.

b. Approve Sur­plus Prop­ertv Disposal

This item requests the Board to approve the Sur­plus Prop­er­ty Disposal.

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

Busi­ness Items:

a. Approve Change Order #21 (Rev 7) with Dominguez Design Build, Inc.

Mr. McClel­lan informed the Board of a Change Order with Dominguez Design Build, Inc. for design changes and the relat­ed costs. When part­ner­ing with Lori Bates for design ser­vices, there were items iden­ti­fied tha­tre­quired addi­tion­al funds to ensure that the design tran­si­tion with­in the exist­ing build­ing and the new build out space flowed cor­rect­ly. Changes were nec­es­sary to the lay­out of the ter­raz­zo floor to main­tain a visu­al flow and fur­ni­ture relo­ca­tion was need­ed due to the change the floor lay­out. This change order is for costs relat­ed to the floor­ing and the realign­ment of some util­i­ties for the charg­ing sta­tions on seating.

Mc McDon­ald made a motion to Approve Change Order #21 (Rev 7) with Dominguez Design Build, Inc., and Ms. Melz­er sec­ond­ed the motion. The vote was tak­en and the motion passed unanimously.

b. Dis­cus­sion on North Ter­mi­nal Fund­ing (Infor­ma­tion Only)

Mr. McClel­lan pre­sent­ed to the Board infor­ma­tion on fed­er­al fund­ing for the North Ter­mi­nal Expan­sion project and poten­tial options for oth­er fund­ing sources.

Mr. Franklin Har­ri­son intro­duced Mr. George Smith, a munic­i­pal bond lawyer in Tal­la­has­see, Flori­da and Mr. Jeny Ford, a finan­cial advi­sor at Ford & Asso­ciates in Tam­pa, Flori­da, both of which Mr. Har­ri­son has worked with for many years.

Mr. Smith dis­cussed his back­ground and what his com­pa­ny and oth­er enti­ties do when a gov­ern­men­tal bond isis­sued, and he talked about pos­si­bil­i­ties for tax exempt bond­ing. He also dis­cussed the bond issue process.

Mr. Ford intro­duced him­self and explained what his fir­m’s role would be in a bond issuance. He explained the types of issuances that would be pos­si­ble for the Air­port, alter­nate fund­ing options, as well as tim­ing of the process and costs involved.

Dis­cus­sion ensued.

Con­struc­tion Updates (Infor­ma­tion Only)

a. Ter­mi­nal Buildout

Mr. Richard McConnell pre­sent­ed updates on the Tem1inal Build­out project. With­in the next few days the­build­out area will be inspect­ed and opened to the public.

Dis­cus­sion ensued.

b. Bag Make­up Expansion

No update necessary.

c. Ter­mi­nal Ramp Expansion

Mr. McConnell info1med the Board regard­ing the sta­tus of Ter­mi­nal Ramp Expan­sion, stat­ing phas­es one and two are com­plete. Staff has been work­ing close­ly with the con­trac­tor on the project in order to com­plete it in a time­ly manner.The first phase of the apron recon­struc­tion iex­pan­sion opened up ear­li­er this month in advance of spring break. The next phase will com­plete more of the ramp clos­er to the Ten­ni­nal Build­ing and the project is expect­ed to be com­plete by June 1.

Plan­ning Update (Infor­ma­tion Only)

a. Project InSPIRE

No update necessary.

b. Rental Care Facil­i­ty Design

Mr. McClel­lan infonned the Board that Ardur­ra is work­ing on the lay­out of the Rental Car Facil­i­ty Design.

Bay EDA Update (Infor­ma­tion Only)

Ms. Bec­ca Hardin updat­ed the Board on the sta­tus of IAG Aero Group and explained there will be an agen­da item on the April 23 meet­ing of Tri­umph Gulf Coast. She also dis­cussed oth­er prospec­tive com­pa­nies inter­est­ed in Bay Coun­ty and pos­si­bly locat­ing at the Airport.

The Moore Agency Update (Infor­ma­tion Only)

Ms. Katie Spill­man gave updates on the month of Feb­mary to the Board, includ­ing that the paid search cam­paign was launched and led to a notable increase in web­site traf­fic. The dig­i­tal bill­board was pre­sent­ed, show­ing the final art­work which is now live on the bill­boards out­side of Tyn­dall Air Force Base. Also dis­cussed was the announce­ment of the first non-stop flight from ECP to LaGuardia on Delta Air­lines, and the web­site update to add it to the non-stop flights page.

The pre­sen­ta­tion end­ed with announc­ing a sig­nif­i­cant mile­stone com­ing up in May, the ECP 15^th year of operation.

Exec­u­tive Direc­tor Report:

Mr. McClel­lan conunent­ed on the excit­ing news of ECP’s direct flight to New York, stat­ing there has been moreen­thu­si­asm over New York than any oth­er city announced. He rec­og­nized Jim Wheat­ley for his years of ser­vice with the Air­port Police Depart­ment and as Chief here at ECP, and he stat­ed that this will be Chief Wheat­ley’s last meet­ing, as he is retiring.

Staff is work­ing on the clear­ing of trees to the north, and Mr. McClel­lan also dis­cussed the con­ces­sions space inthe build­out area and the plans to have a cen­tral­ized con­ces­sion area.

There were no addi­tion­al pub­lic comments.

Next meet­ing sched­uled: Board Meet­ing: April 23, 2025 — 9:00 a.m.

The meet­ing was adjourned at approx­i­mate­ly 10:00 a.m.