Norfolk International Airport

This document outlines the foundational strategic direction for Norfolk International Airport. The mission is to connect the community globally through the safe, reliable, and efficient operation of the airport. The vision aims to strengthen and grow the region by establishing the airport as an industry leader, recognized for its professionalism and excellence.

The agenda for the Board of Commissioners meeting included several key items for discussion and action. Topics covered were the Annual Investment Report from PFM, the CEO & Staff Report, and the NAA BOC Chair Report. Committee Reports focused on the Facilities Development Committee and the Departures Terminal Design Theme. Old Business involved Diligent Books, and New Business included the Airport Hotel item. The packet also contained details regarding the Federal Inspection Services Facility Project justification for using the Construction Manager-at-Risk delivery method due to project complexity, including accelerated schedule needs, difficult site location requirements involving TSA and CBP coordination, specialized equipment lead times, and intricate phasing necessary to avoid operational impact. The PFM Annual Investment Report provided an economic update, noting trends in inflation, the resilient labor market, and the Federal Reserve's rate hike pauses, along with detailed portfolio reviews for operating funds, parking escrow, growth funds, and the debt service reserve fund.

This document is the 2025 Annual Report for Norfolk International Airport, summarizing activities, financial performance, and economic impact. It highlights the multi-phase 'TransformORF' modernization effort, representing a nearly $1 billion investment in the airport's future, with projects completed through 2025 and outlining planned enhancements for improved safety, accessibility, convenience, and expanded facilities. The report details various operational aspects including air service development, community engagement, employee engagement, customer experience, digital presence, airside and landside operations, public safety, and technology and innovation.

The Board of Commissioners meeting agenda included several key items: a report from the CEO and the Board Chair, committee reports including the approval of Updated GA Minimum Standards from the Business and Commercial Committee, an update on the Hotel Developer Contract under Old Business, and the Approval of FBO Services Provider Recommendation under New Business. The packet also contains minutes from the previous meeting held on November 30, 2023, where discussions included acceptance of Annual Financial Statements with a clean audit opinion, approval of a Revised Mid-Year FY24 Budget totaling a $3.55M increase for projects like the Cellphone Lot (New Location) and Parking Revenue Control System Upgrades, and the adoption of a Resolution approving the Use of Construction Management (CMaR) Contracts.

The meeting agenda included a CEO & Staff Report highlighting record passenger traffic growth for 2024 year-to-date and featuring an employee. New Business focused on the Acceptance of Annual Financial Statements and the Approval of Updated Air Service Development Policy, which aligns incentive programs with FAA guidance and prioritizes top destinations. The financial review included year-to-date operating revenues and expenses, showing favorable variances. The Capital Development Summary detailed numerous ongoing and planned projects, such as the Alpha Concourse Gate Addition, Consolidated Rental Car Facility, Terminal Development, and Airport Hotel. An audit executive summary reported an unmodified opinion on the financial statements for the year ended June 30, 2024, with no material weaknesses identified in internal controls. The meeting concluded with discussions held during a Closed Meeting regarding a Potential Partnership Agreement and a Payment in-Lieu of Taxes (PILOT) matter.