Larita Clark

The Board reviewed reports from executive leadership, the controller, the chief financial officer, and Choose Chicago. Developmental agendas included approvals for brine tank repairs, emergency contract work for building ramp and drain shoring, and renovation change orders for the Hyatt Regency McCormick Place. Financial discussions focused on the approval of the operating budget for fiscal years 2027 through 2029. Information technology contracts regarding service solutions were considered. Legal matters involved the establishment of procedures for public comments, authorization to apply for zoning amendments, and the approval of a collective bargaining agreement with Local 399 Operating Engineers. Operational items included contract extensions and new agreements for telecommunication supplies, motor repairs, waste hauling services, and electrical supply. Additionally, a resolution was introduced to honor the contributions of Christian Mitchell.

The general matters discussed included the roll call, confirming a quorum, and the CEO's report detailing major November events such as the AAU Volleyball's Chi-Town Boys Challenge, AnitaB's Grace Hopper Celebration, and the Chicago Urban League's Golden Fellowship Dinner, noting successful events with tens of thousands of attendees like RSNA. The CFO presented tax collections for November 2025. Covered actions included consideration and approval of a new contract for the manufacturer of new North Building escalators and consideration and approval of a new contract for Integrated Pest Management Services. A report regarding the FY2025 Audited Financial Statements was also presented. The meeting concluded with adjournment.

The meeting included the Annual Appointment of the MPEA Ethics Enforcer and a Public Comment session, during which no comments were made. The Chief Executive Officer reported on McCormick Place being named the best convention center worldwide for its size category, client success in Washington, D.C., and the smooth progress of the Hyatt South Tower room renovations project, with the first block of new rooms completed. Sustainability achievements were highlighted, including earning Gold Certification and the Platinum Certification for WEFTEC 2025. The CEO also noted the busy first quarter schedule for 2026. Financial reports included results for November and December 2025, and tax collections for December 2025. Operational updates covered winterization tasks and attendance for events like RSNA and MASCON. Progress on the Hall C escalator project is on schedule. The Board approved several actions, including a new contract for an Executive Search Firm, the First Amendment to the Management Agreement for Banquet and Concessions Management, a Labor Agreement with Projectionists, Local 110 IATSE, and a Contract Extension for HVAC Repair and Maintenance Services. The FY2025 Annual Business Diversity Report was also reviewed.

The key discussions and considerations for this meeting included general matters such as the roll call of Board Members and public comments, followed by reports from the CEO, Controller, and Chief Financial Officer. Agenda items under CEO, Entertainment, Finance, and Operations involved consideration for approval of several contract extensions, including those for a Federal Lobbyist, Crowd Management Services, Command Center Management & 24-Hour Security Services for Wintrust Arena, and a Hotel Asset Manager. Other significant financial considerations included authorizing the issuance and delivery of Hotel Revenue Notes, Series 2026, and designating a depository bank for MPEA Funds. Operations discussions covered contract approvals for gasoline & diesel fuel supply and audio-visual equipment.

The meeting began with a successful motion allowing a member to participate via teleconference, followed by the roll call. The board convened in an Executive Session to discuss specific items C1 and C2. During the regular session, key actions included the approval of a new contract for Bond Underwriting Services, approval of the Insurance Renewal for the MPEA Insurance Program, approval regarding the retention of verbatim audio recordings of Executive Session Minutes, approval of Resolution No. MPEA 25-04 Adopting the Fifth Amended and Restated Bylaws and Regulations, and approval of a Labor Agreement for Make-Up Artists and Hairstylists of Local 476 I.A.T.S.E. Additionally, approvals were granted for new contracts related to Concrete Cutting Services and Lift Equipment Repair and Maintenance Services. Public comment was heard from the President of the Chicago Federation of Musicians regarding non-commercial public expression access on Navy Pier. The CEO provided updates on economic impact metrics for McCormick Place, noting strong attendance and economic activity despite uncertain economic environments, highlighted by events like the NBA Draft Combine and C2E2. The CEO also reported on ongoing renovations at the Hyatt Regency McCormick Place and the success of the Fight 2 Feed partnership. The meeting concluded with the approval of Executive Session Minutes from the October 22, 2024, Regular Board Meeting.