Waukegan Port District

The meeting included a bond issuance presentation by Spear Financial regarding General Obligation Bonds (Alternate Revenue Source), Series 2026, aimed at financing capital projects. The board reviewed and considered an authorizing ordinance for these bonds, alongside a discussion regarding the upcoming transition and startup of the Fixed Base Operator (FBO). Additionally, the board addressed the acknowledgment of a lease assignment for Baxter Healthcare Corporation and approved license agreements for casual food service businesses, specifically for Dockside Deli and Dockside Ice Cream, at the Waukegan Harbor and Marina. Committee reports from the Airport, Harbor, and Finance committees were also reviewed.

The Board Meeting agenda included Committee Reports across Airport, Development, Capital Improvement, Harbor, Intergovernmental, and Finance areas. Key agenda items involved the approval of the 2026-2027 Insurance Renewal Proposal for the total not-to-exceed amount of $252,689.00, and amendments to the Lease Agreement and Fueling Agreement with Stick and Rudder Club Inc. Other items included approving license agreements with Bristol Boats and amendments to agreements with Perfect Imperfections. Financial review supported the recommendation to approve November 2025 Check Registers and Financials. Reports on various airport projects were also presented, detailing progress on the Master Plan/Environmental Assessment, Perimeter Fence Phase 5, Obstruction Removal Phase 3, and the rehabilitation of South Hangar Pavements and East Apron.

The agenda for the February 18, 2026 meeting included committee reports spanning Airport, Development, Capital Improvement, Harbor, Intergovernmental, and Finance matters. Key actions scheduled for the Consent Agenda included the approval of December 2025 electronic transfers/checks and financials, and January 2026 meeting minutes. Under the main agenda, the Board was set to approve closed session minutes from December 17, 2025. Specific resolutions included approving a 2026 License Agreement for Bristol Boat for repair and storage, approving an Amended and Restated Lease and Consenting to Assignment of Lease for Nikki Sullivan, and approving the Airport Consultant of Record (Crawford Murphy Tilly). Supporting documentation provided details on the Finance Committee's recommendation for approving December 2025 financials, and extensive documentation regarding the Bristol Boat Service, Inc. license agreement and the Nikki Sullivan amended lease agreement.

The meeting included a public hearing regarding the plan to issue General Obligation Bonds (Alternate Revenue Source), Series 2015, not exceeding $10,000,000. The bonds aim to finance infrastructure improvements, including a new United States Customs facility for the Waukegan National Airport, refund outstanding Limited Obligation Revenue Notes Series 2007, and cover costs for constructing a maintenance facility at the Waukegan National Airport. The Board also expressed gratitude to Mr. Podolsky for his recommendation and guidance on exploring refinancing options.

The Waukegan Port District's board meeting agenda includes committee reports on airport, development, capital improvement, harbor, intergovernmental, and finance matters. The agenda covers approval of closed session minutes, a schedule of regular meetings for 2026, and tax abatements for Series 2015 and 2019 Bonds. Also includes discussion and approval of the Harbor Marina and Airport budget plans, capital expense plans, lease agreements, and amendments to agreements with various entities such as Stick and Rudder Club Inc. and Waukegan Yacht Club. Additionally, the meeting involves airport's exercise of proprietary exclusive rights and general manager remarks from both the harbor and airport.