Metropolitan Pier And Exposition Authority (Chicago)

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.

Key discussions for this board meeting included the roll call of MPEA Board Members and public comment. Staff reports were provided by the Chief Executive Officer, Controller, and Chief Financial Officer. The executive session agenda items covered consideration of previous executive session minutes and personnel matters. Financial matters involved consideration of the Operating Budget for fiscal years 2023, 2024, and 2025, as well as a contract amendment and extension for Marketing Sales and Services. Legal items included approval consideration for a Labor Agreement with Local 476 I.A.T.S.E., an amendment to a Physical Therapy Suite License Agreement, and a license agreement with the City of Chicago on behalf of the Chicago Police Department. Operations focused on consideration for a new contract for Teletrol Building Automation System Maintenance Services.

The key discussion topics for this meeting included the annual appointment of the MPEA Ethics Enforcer and public comment session. Staff reports covered the CEO, Controller, Chief Financial Officer, and McCormick Place Interim General Manager. The finance agenda involved consideration for approval of a new contract for an Executive Search Firm and an amendment to the Management Agreement for Banquet and Concessions Management. The legal agenda addressed consideration for approval of a Labor Agreement with Projectionists, Local 110 IATSE. Operational matters included consideration for approval of a Contract Extension for HVAC Repair and Maintenance Services. The procurement section involved a review of the FY2025 Annual Business Diversity Report, followed by new business and adjournment.

The meeting commenced with a successful vote to allow the Chairman to participate via teleconference. Key agenda items included reports from Deloitte on the Annual MPEA Financial Audit Report and the Program Specific Audit of the Schedule of Expenditures of Federal Awards, both as of June 30, 2024. Additionally, Prado and Renteria presented the MPEA Retirement Plan Audit and the McCormick Place Convention Center Chicago Food and Beverage Services Audit, both as of June 30, 2024. The committee then moved into an executive session to discuss specific items C1 and C2. Subsequent recommendations involved the consideration and approval of accepting the Basic Audited Financial Statements, the Program Specific Audit of the Schedule of Expenditures of Federal Awards, and the Audited Retirement Plan and Trust Financial Statements by the MPEA Board. The meeting concluded with the approval of the Executive Session Minutes from the November 6, 2023 meeting and adjournment.