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

The Port of Seattle Commission met in a special meeting per RCW 42.30.080 on October 14, 2025.

The meeting was held at the Port of Seattle Headquarters Building Commission Chambers, located

at 2711 Alaskan Way, Seattle, Washington. Commissioner Cho was absent and excused from

attendance.

1. CALL to ORDER

The meeting convened at 9:04 a.m. by Commission President Toshiko Hasegawa for the purpose of

holding a budget study session for the 2026 Aviation Operating and Capital Budget.

2. ITEM OF BUSINESS

• portwide strategic alignment under the Century Agenda;

• SEA’s mission and vision;

• priorities in 2026;

• enplanement forecasting in the 2026 budget shows conservative growth compared to 2025;

• growing baseline costs (primarily payroll);

• increase capital capacity - managing growth of costs and consistently growing non-

• 2026 operating budget uncertainties and risks;

• a summary of operating revenues in 2026;

• capital program spending $5M higher in 2026;

• 2026 Commission aviation budget priorities;

Minutes of October 27, 2020, submitted for review on November 5, 2020, and proposed for approval on November 10, 2020.

• equity in spending highlights; and

• operational and construction jobs generated by and through the airport;

• new facilities needed to sustain operations;

• expanding economic activity;

• creating additional jobs; and

• creating a foundation for future revenue;

• affordability factors;

• capital delivery improvements;

• improved capital execution;

• budget/schedule for maritime and aviation;

• hard costs vs. soft costs;

Discussion ensued regarding:

• declining parking revenues and methods to market the Port’s services when there is a drop

• increasing traffic to SEA’s online applications for reservations;

• being able to look at data, for example, ascertaining how much light rail increased use

• potentially exploring options like dynamic pricing with reserved parking;

• receiving the tracking parameters for ascertaining that public parking is down;

• streamlining permitting in major capital construction.

Executive Director Metruck stated that additional information would come forward regarding

additional sources of revenue.