Fantastic.

Yes, Keith, uh annual inspection update for the relievers, please.

Yes, good morning, sir.

Members of the board, I'm happy to report the 2025 cycle has closed for the year.

Um happy to report all of our relievers passed 100%, no discrepancies.

And that also includes uh Indianapolis International.

Our airport was inspected by the FAA.

In dot inspects uh all of our reliever facilities, and we have uh no issues found at any of our reports, which is really a a call out to the outstanding work that our staff does.

And uh Keith and the exceptional staff, they'll take another one right.

But that I've been doing this for 38 years.

That's practically impossible because the FAA always finds something benign or whatever.

I mean, it perfection is um it's very very difficult.

Now he assures me that he's gonna do that next year also.

Well, of course.

It's always our goal.

Okay, G Hangar Occupancy Report.

Eric.

Um, we are uh still at 100% occupancy, which is great.

Um, but we've had quite a bit of movement.

Um the economy is the main driver of that.

Um from an aspect of people selling here.

So refer to our vacancy list and we go from there.

But we have uh quite a bit of activity planned for 26 regarding tea hangers.

We want to come back to you with uh a new tea hanger lease that everybody will enter into.

So we're gonna replace all the old ones.

Um want to discuss with you a possible increase in rental.

Um, but more more responsibilities placed upon uh to a degree to the to the tenants, but we uh uh full disclosure we have a bit of a storage problem.

Find all sorts of things uh stored in some of these tea hangers, uh, and then sometimes no aircraft.

So we have a lot of work to do in 26, but it's it's a good system, but we want to polish it up.

So looking forward to a lot of a lot of hard work.

When you say when's the last time we had an increase in T HR.

Oh, it's um I was the one who did it, and it's been probably 15 years ago.

Okay, I know it's relatively low compared to the market.

Yeah, and we right now we're looking at the market, we're looking at comparables, quite a variety and quality of T hangers, but nevertheless, we want to match all that up to compared to pricing.

So uh again, lots of things to do, but we want to come back to you with that good information.

Okay, thank you.

Okay, fuel servers report, Eric.

Um, so in general, the year started off pretty slow.

It's it has uh rebounded to a degree.

We're all all relievers together, we are gonna be up in fuel.

Um Hendrix County is uh waffling a little bit, but that's to be expected.

Most of those folks are uh pure GA.

Um, but the other uh uh uh reliever airports, especially in the regional strong.

That is an attribute of charter activity, um, which in general remains strong during uh a year that's no a little bit up and down.

So that's that's good news.

But we expect that to continue in the first part of 2026, and um then we kind of go kind of go from there, yeah.

Okay.

And how about uh properties?

Yeah, this is good stuff.

So IU help um has uh moved to Indianapolis Regional Airport.

They they moved their aeronautical uh attributes uh December 9th, and then they have a few other things that they're finishing up on actually today.

So that's a welcome facility out there.

I'm happy to coordinate if you would like to take a tour of it.

Happy to coordinate that.

Um but that's a fantastic addition to Indianapolis Regional.

IU Health, of course, loves it, but the staff for IU Health that will be there absolutely love it.

They're the expectation is you know, there's obviously a business side to this that their revenues will increase dramatically because of the larger opportunities they're going to have.

Um so that's a good news related to that.

Um we uh continue to work with Bradford Allen.

You you may recall Bradford Allen was the entity with Andretti that that we sold parcel one to up at uh Metropolitan Airport.

Um right now, uh uh Bradford Allen is is has approached the FAA on a uh on a use of property.

So we're awaiting that.

And why why I say we're awaiting that because parcels two and three were option areas for Bradford Allen.

And uh so we're holding off on any submission to the FAA until uh Bradford Allen can come to finality on Parcel One.

But uh, but that's that's quite a story, and I think maybe most of us know that uh that facility now that built by the Andretti team in Bradford Allen is now switched in ownership and totally dedicated to Formula One.

And uh so that's that's a fantastic item to happen to the state, city, metropolitan area.

Um let's see.

Lastly, uh we we have 78 acres at Indianapolis Regional Airport.

It is to the northwest of the airport.

It is not connected to Airport proper, but it's it's a little close.

Okay.

We bought that property years ago, cash.

There's no FA funding in it, um, to prevent a housing addition to be placed there.

It would have been right in the approach of 1634.

So uh now as we move towards uh different attributes of our all of our airports of what do we need, what don't we need?

That's acreage has been for sale for a while.

We we it looks like we uh as of yesterday have a deal.

Uh the good news there is 78 acres coming in at 74,000 an acre, which is a huge amount of money when you look at average pricing out there.

So patience is a virtue, and and it's probably gonna work out just well for us.

So there's uh all in all the relievers have had a very good year.

They really have financially uh developmental-wise, uh PD's been busy.

So I think it's one of the better years the the relievers have really ever had in my time here.

So it's it's something to something to talk about.

Yeah.

So it was odd to protect approach to the runway.

No longer needed.

Is that because of the planned realignment or no?

It's it's far enough away.

It's not in the RPZ.

Um, it was the use.

So residential use ultimately is gonna cause complaints.

Because it was that close to the airport.

It'll be an industrial use, it's it'd probably be a big box.

Um and forgive me, but one other quick thing.

So up at Metropolitan Airport, it's in it's in here.

It's about an agri park lease with the city of Fisher's.

We're working through that.

The FAA has some involvement in it.

But something I wanted to point out in the air, we say that it is inside the runway protection zone.

It isn't, it is outside of the runway.

So that'll probably come to fruition in the first quarter of 20 sounds.

All right, uh planning developments.

Yeah, good morning.

Uh, wanted to give an update on on how things are going out at the relievers.

So in the report, there's uh some items that I'm gonna hit most of these.

Start with Eagle Creek.

So out at Eagle Creek, we do have some things that are ongoing.

Uh, we have a maintenance building that we are working on replacing.

Uh the one that's out there currently is uh outdated.

Um it is our uh of the relievers, it is the one in most need of replacement.

And and we're uh uh looking at leverage grant funding um from the previous bill, IJAA funding opportunity to to make that happen.

So we are finishing that design and anticipate getting that bid out to align with grant funding this spring.

In addition, out at Eagle Creek, we're working, we we received design grants in 25 uh for improving our runway safety area out there, um, doing some grading work as well as getting that runaway lighting upgraded to LED, um, getting the vault building replaced, new regulators, all the infrastructure on the lighting.

So we have those two projects that are going, they're gonna get designed, uh, bid out this spring that would be uh anticipated for 2027.

And because we we know that's going to require some sort of runway closure out there.

We're also working, uh, been working with the uh um some of the information we get from NDOT with the pavement management program to understand if there's some crack repairs and and uh things like that we can get done on the runway environment or out while we're out there.

Um so those are things that I'm working to incorporate, um, knowing we're we I want to leverage the runway closure, P and D most delivery to runway closure so that we're not going back asking for another one in the near future.

So those are the activities going on at Eagle Creek currently from a um capital development standpoint.

So when you say runway closure, do they do the old taxiway conversion anymore?

Or is that it is it is not typical.

Um the guidance out there, it makes it a little more stringent on some of the ways of getting it done.

Those are conversations that we have, but what I'm working with the design team currently ahead of that is how can we minimize what that link looks like as far as the closure goes.

Because that really affects the FBO.

Yes, absolutely.

Obviously, and those are conversations that that are still yet to come as we get further in design.

Um, but out there it we shouldn't be you know super long on the closure.

Um, but I just don't have enough yet on design to know exactly what we're doing.

Yeah, super long in airport airplane terms.

Yep.

Um yeah, so then over at Hindrance, um, this airport is where we've had a lot of success um over the past couple years getting things lined up that's leading to construction.

Uh so in 2026, uh, we are gearing up right now for basically um bringing that all those pavements back up to a new condition.

Of course, the airport is 20 plus years old at this point.

Um, it was originally built with it was not FAA asphalt that were used out there.

It was back when we could use NDOT.

Uh so the FA specs are now used for the rehab.

The runway is going to be uh full depth reclaimed, so it will be um fully reconstructed with the asphalt overlay um over the top of that.

Uh, in addition to Taxiway Alpha will be milled and overlaid.

Um, and in addition to that, the taxi lane area for the T hangers, um, leveraging the closure because we are going to have a uh the airport's going to be closed for a period of time to go ahead and get those done at the same time with the uh with the complementary project.

So leave that after after that program.

It's it's about 60 days that we'll need been working closely with um as we get work closely with the contractors so we can make sure that um properties is updated with all our tenant coordination.

Um everybody knows this is has been coming for a while.

Um we get through next summer, and that airport's gonna be back up to um new condition.

Um so that's Hendrix over at regional.

So there's a couple things that have been going on at regional as everyone's aware.

Um that's a very active airport with with different things.

So one of the projects that that just wrapped up, we added additional water um enhancements to help facilitate the IU development that Eric mentioned, plus future development.

So that basin project um is substantially complete now.

So if anybody's been over that way, you've seen that new development.

And then as we've talked about runway 725 for the past couple years on getting that runway reconstructed, we have ensured that because there's two runways out there, we don't get in a situation where once we do get into construction for that, the 1634 has an issue.

Much like we did here with our parallels, uh, whenever we knew the South Runway was going to go down, we did our due diligence on the north runway.

We've done the same thing with 1634 out of regional.

So over the past two years, um we've used uh uh some some dollars to help go out and do spall repairs, joint replacement, um, items like that out on 1634.

We've got one more round of repairs that that I want to try to get done this year in 2026 ahead of what we anticipate the construction year for uh 725 being in 2027.

out of regional so over the past two years um we've used uh uh some some dollars to help go out and do small repairs joint replacement um items like that out on 1634 we've got one more round of repairs that that I want to try to get done this year in 2026 ahead of what we anticipate the construction year for uh 725 being in 2027 and the only thing the only other thing I would share on 725 is we are still working um through the the design methodology with FA and EndOt um we we believe that the reconstruct option um yes it is painful as far as the runway closure like we've talked about on a couple others but it is long term solution it ensures that we're not uh that we're getting in getting it done we have one one season of construction and and and we're out of the way um there is some still there's still some differing opinion with uh the the government agencies on how they want to approach it and so those are conversations that are ongoing and at the end of the day I'm I'm confident we're we're going to get a resolution that provides um the the public value we want as far as uh a long term solution um but those are conversations are ongoing so that this reconstruct is reconstruct where it is right now or yeah it is it is in its current location location and and it would be reconstructed and then what would happen with the the master plan shows the uh runway extension this would allow for that to be a seamless extension in the future um it also is being done in a manner that allows whenever that extension to happen for the threshold to be really relocated on the west end to to ensure that our prez um gets uh gets back on our property um so yeah lots of uh intricacies definitely been working with uh the master plan effort to make sure that we covered all of our basis on how how we get what we need done now but we ensure that we're not uh we're not doing it in a manner that prevents us from getting the extension done the way it needs to be done and when do you see that happening approximately the extension the extension so there's there's been I think some different perspective on you know the timing of what that looks like um we've been doing different modeling on uh how soon we think maybe it you know is that in the three to five year or is it it's farther out I think it's a combination of what the aircraft activity uh continues to to shake out there but also how we align with funding and and because that is going to be a a big ask for the extension um knowing we've got the reconstruct we're working to get funded now we've gonna think through those couple things on on what the timing would end up being so is the plan to do the extension and the 1836 at the same time or is that separate completely separate I think the current plan would be they would be separate.

And with that the only other thing I wanted to share on the next page uh we did also submit like we've done in the past the grants that we received um for in the 2025 cycle so just just wanted to point out that we did leverage over four million dollars in federal dollars for the reliever system uh on on the projects that I just mentioned um and again we the continued the continued success as we move into 2026 that that concludes my side things okay thank you very much uh does anybody else have anything uh before we talk about the charter okay um staff does it recommend any changes for the charter about the committee members okay we want to talk about visits right now yeah so I talked to these guys earlier and we we're in concurrence on the maybe a single visit do it all in one day next year and I don't know if that we have this potential tour of IU that would be a that's soon right now you help potential we could coordinate visit any time exactly okay or at your disposal chair whatever you'd like to do we'll do it with the flexibility on that we're just willing to make it a long day and we're gonna and address it if that works I think that makes more sense but we definitely I think we really need to at least every other year if not eyes on things yeah yeah we ready okay um I think that uh concludes the meeting um we have to have a vote to close the meeting no good thank you thank you