Digital recordings of the meeting proceedings and meeting materials are available online – www.portseattle.org.

APPROVED MINUTES

COMMISSION SPECIAL MEETING OCTOBER 13, 2020

The Port of Seattle Commission held a special meeting, Tuesday, October 13, 2020, as a

commission study session. The study session was held remotely in accordance with the governor’s

‘Safe Start’ order and Proclamation 20-28. Commissioners Bowman, Calkins, Cho, Felleman, and

Steinbrueck were present.

The meeting convened approximately at 9:00 a.m.

Presentation materials included a packet containing the following documents:

Memorandum

Aviation CIP Presentation

Forecasting Methodology

Aviation Operating Budget

Presenters:

Lance Lyttle, Managing Director, Aviation

Keri Stephens, Aviation Capital Programs Manager

Borgan Anderson, Director, Aviation Finance

Jeffrey Brown, Aviation Chief Operating Officer

Michael Drollinger, Director of Business Intelligence

Commissioners and staff met in a study session to continue the discussion from the September 22,

2020 study session, regarding the Aviation Capital Improvement Program (CIP). The purpose of the

session also included a presentation of Peer Review results and forecasting methodology and review

of the Airport Operational budget.

Executive Director Metruck introduced the study session and presenters.

Mr. Lance Lyttle, Managing Director of Aviation, spoke to the vision of the airport, obtaining optimal

levels of service, the budget process strategy, aligning the budget with the vision, and strategic

priorities informing the long-term vision, outcomes, and metrics.

Members of the Commission and staff discussed:

• how the annual score card ties to strategic priorities with respect to key performance

indicators;

• the inclusion of air and noise monitoring in port strategic priorities;

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PORT COMMISSION SPECIAL MEETING MINUTES Page 2 of 3

TUESDAY, OCTOBER 13, 2020

Minutes of October 13, 2020, submitted for review on October 22, 2020, and proposed for approval on October 27, 2020.

• the need for environment and sustainability to encompass more than greenhouse gas

challenges; and

• customer experience.

Mr. Borgan Anderson continued the presentation addressing the funding plan for 2021- 2025, cash

flow representations for all projects, and the status of the three mega projects currently in process.

Commission discussion ensued regarding:

• items left in completion for the International Arrivals Facility and funding to cover project

overages;

• how an additional stimulus package from the government related to relief to airports and

airlines may impact the capital budget and prioritization of projects;

• grant funding or CARES Act funding and how it could be used to address costs;

• the Port’s theoretical debt limit over the next 5 years;

• status of projects at the airport;

• lounges and the relationship with Airport Dining and Retail (ADR) tenants; and

• airline realignment.

Mr. Jeffrey Brown continued the presentation discussing the Peer Review effort and

recommendations and findings that came from that process.

Mr. Michael Drollinger spoke regarding ranges of outcomes in forecasting methodology, passenger

level recovery, and levels of uncertainty related to Covid-19.

Lance Lyttle presented the Aviation Division’s 2021 budget to the Members of the Commission and

Borgan Anderson spoke to aviation operating budget challenges. The presentation included:

• an overview of the 2020 SWOT strength, weaknesses, opportunities, and threats analysis;

• passenger recovery forecasts;

• 2021 budget priorities;

• total airport expenses;

• passenger facilities charges proposed;

• 2020 operating budget risks; and

• the financial forecast for 2020 – 2025.

Commission discussion continued regarding:

• struggles in attaining potential tenants;

• virtual queuing; and

• reserve funding.

Commission President Steinbrueck asked Commissioners to submit further questions they have

regarding the budget to staff for follow-up.

PORT COMMISSION SPECIAL MEETING MINUTES Page 3 of 3

TUESDAY, OCTOBER 13, 2020

Minutes of October 13, 2020, submitted for review on October 22, 2020, and proposed for approval on October 27, 2020.

The meeting adjourned at 11:25 a.m.

Prepared: Attest:

Michelle M. Hart, MMC, Commission Clerk Sam H. Cho, Commission Secretary

Minutes approved: October 27, 2020. September 8, 2020.