Commissioners                                             Tay Yoshitani 
Gael Tarleton 
Chief Executive Officer 
Commission President 
Tom Albro                          P.O. Box 1209 
Bill Bryant                           Seattle, Washington 98111 
John Creighton                      www.portseattle.org 
Rob Holland                          206.787.3000 
Audio and video recordings of the meeting proceedings and meeting materials are available on the
Port of Seattle web site  www.portseattle.org. The approximate point in the video recording for each
agenda item is identified by hours, minutes, and seconds; example: 00:01:30. 
APPROVED MINUTES 
COMMISSION REGULAR MEETING AUGUST 14, 2012 
The Port of Seattle Commission met in a regular meeting Tuesday, August 14, 2012, at Port of
Seattle Headquarters, Commission  Chambers, 2711 Alaskan Way, Seattle, Washington. 
Commissioners Albro, Bryant, Creighton, Holland, and Tarleton were present.  Commissioner
Creighton was absent after 2:13 p.m. Commissioner Bryant was absent after 3:45 p.m. 
1.   CALL TO ORDER 
The regular meeting was called to order at 12:05 p.m. by Gael Tarleton, Commission President. 
2.   EXECUTIVE SESSION pursuant to RCW 42.30.110 
The regular meeting was immediately recessed to an executive session estimated to last
approximately 60 minutes to discuss matters relating to legal risk, potential litigation, and real
estate. Following the executive session, which lasted approximately 70 minutes, the regular
meeting reconvened in open public session at 1:27 p.m. 
PLEDGE OF ALLEGIANCE 
3.   (00:01:20)  APPROVAL OF MINUTES 
Special meeting of July 24, 2012. 
Motion for approval of minutes for the special meeting of July 24, 2012  Albro 
Second  Creighton 
Motion carried by the following vote: 
In Favor: Albro, Bryant, Creighton, Holland, Tarleton (5) 
4.   SPECIAL ORDER OF BUSINESS 
None.





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5.   (00:01:52)  UNANIMOUS CONSENT CALENDAR 
5a.  Approval of the claims and obligations for the period of July 1, through July 31, 2012,
in the amount of $48,091,066.53. 
5b.  Authorization for the Chief Executive Officer to perform a competitive Category III
procurement and execute a one-year service agreement for tourism consulting
services in the United Kingdom, for a cost not to exceed $600,000 and duration of up to
three years.  This contract will support and provide continuity for the Port's
international tourism program, which began in the UK 27 years ago. 
Request document(s): Commission agenda memorandum dated August 3, 2012, provided by
Jane Kilburn, Director of Tourism Development. 
Motion for approval of consent items 5a and 5b  Creighton 
Second  Albro 
Motion carried by the following vote: 
In Favor: Albro, Bryant, Creighton, Holland, Tarleton (5) 
(00:02:58)  PUBLIC TESTIMONY 
As noted on the agenda, public comment was received from the following individual(s): 
Cynthia Welti, Executive Director, Mountains to Sound Greenway Trust.  Ms. Welti
submitted written comments supporting transfer of a portion of the Eastside Rail Corridor
to King County to build a north-south regional trail connection. A copy of the document
is, by reference, made a part of these minutes, is marked exhibit A, and is available for
inspection in Port offices. 
Michael Deller, Washington State Director for the Trust for Public Land.  Mr. Deller
submitted written comments supporting transfer of a portion of the Eastside Rail Corridor
to King County in the interest of conservation and recreation on King County's east side.
A copy of the document is, by reference, made a part of these minutes, ismarked 
exhibit B, and is available for inspection in Port offices. 
Donnell Harvey, Regional Director of Corporate Real Estate, Delta Air Lines. Mr. Harvey
commented in favor of agenda item 6c, regarding design and construction of a new flowthrough
ticketing area, noting that the authorization would improve customer service and
passenger infrastructure at the Airport. 
6.   DIVISION, CORPORATE, AND COMMISSION ACTION ITEMS 
6a.  (00:07:28)  Second Reading and Final Passage of Resolution No. 3662:  A Resolution
of the Port Commission of the Port of Seattle declaring certain real property located in
King County (portions of the Woodinville Subdivision) and any improvements located
thereon surplus and no longer needed for Port purposes, authorizing its transfer to
King County and authorizing the Chief Executive Officer to execute all documents
related to such transfer; and further authorizing the Chief Executive Officer to execute
a permanent easement granting King County easement rights over a portion of the








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TUESDAY, AUGUST 14, 2012 
Port's freight section of the Woodinville Subdivision for future recreational trail uses. 
The Port will receive $15,000,000 (minus 50 percent of closing costs and a $1,900,000
credit to King County for the previous acquisition of an easement over the property to
be transferred). 
Request document(s): Commission agenda memorandum dated August 6, 2012, Resolution
No. 3662, legal description, easement, and purchase and sale agreement provided by Joe
McWilliams, Managing Director, Real Estate Division. 
Presenter(s): Mr. McWilliams. 
Mr. McWilliams commented on the opportunity to minimize operating losses related to the Port's
possession of the Eastside Rail Corridor as well as abate management of permit and application
requests from other jurisdictions related to use of the Corridor. 
In response to Commissioner Creighton, Mr. McWilliams reported that the County's payment would
be postponed for three years and that the option to accept a property transfer in lieu of cash
payment is at the discretion of the Port. He described the process for the County to propose a
property transfer and noted that rejection by the Port of property transfers in lieu of payment would
obligate the County to reimburse the Port $15 million and interest for their portion of the Corridor. 
Commissioner Creighton commented on his motion of June 26, 2012, to indefinitely postpone
consideration of second reading and final passage of Resolution No. 3662 and stated his
opposition to the sale of a portion of Eastside Rail Corridor to King County was based on the terms
of the sale itself, rather than its relationship to a proposed sports arena in the Duwamish
Manufacturing and Industrial Center. He noted his support for public ownership of the Eastside
Rail Corridor and stated the amount to be reimbursed to the Port by King County was $6 million
less than previously agreed to in writing by the King County Executive. 
Commissioner Albro commented in opposition to the resolution and the need for King County and
the Port to fulfill their commitments to each other, and stated that the significant change in terms by
King County from its original agreement for transfer of the Corridor disfavors the Port and
undermines the ability of the two agencies to work together in the public interest in future
collaborative efforts. 
Commissioner Tarleton commented on the Port's role in negotiating the purchase of a privately
owned rail corridor in order to bring it into public ownership and the importance of the transaction to
cities on King County's east side. 
Motion for second reading and final passage of Resolution No. 3662  Bryant 
Second  Holland 
Motion carried by the following vote: 
In Favor: Bryant, Holland, Tarleton (3) 
Opposed: Albro, Creighton (2)


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6b.  (00:21:07)  Authorization for the Chief Executive Officer to: (1) approve the scope and
budget for the creation of an airport sustainability master plan (SMP) at Seattle-Tacoma
International Airport, and (2) advertise and execute a contract for consulting services
for the Airport SMP, with a total estimated value of $6.0 million. 
Request document(s): Commission agenda memorandum dated July 27, 2012, provided by
Elizabeth Leavitt, Director, Aviation Planning and Environmental, and David Tomber, Aviation
Planning Program Manager. 
Presenter(s): Ms. Leavitt and Mr. Tomber. 
The Commission received a presentation on the Airport Sustainability Master Plan, in which the
following information was noted: 
The last Airport master plan was completed in 1997 prior to construction of the Third
Runway and improvements to Concourse A and the Central Terminal; 
Passenger numbers have grown from 22 million per year in 1997 to nearly 33 million in
2012, necessitating optimization of Airport facilities to accommodate passenger growth; 
Over 100,000 people use the Airport facility every day; 
The master plan would cover a 20-year period and would incorporate preliminary
Century Agenda goals and environmental priorities; and 
Staff intends to make the new master plan a sustainability master plan comprehensively
incorporating environmental, social, and economic conditions. 
Challenges facing Airport operations and facilities to be addressed by the Sustainability Master
Plan in order to increase Airport capacity and flexibility were described as follows: 
Airline mergers; 
New international service; 
Rapid technology developments; 
Increased security requirements; 
Need for renewal of aging facilities; 
Need for increased non-aeronautical revenue; and 
Need for improved environmental performance. 
The master plan was described as defining the Airport's future vision with solutions to issues of
capacity, sustainability, customer service, technology, passenger needs, and development costs.
Preliminary Century Agenda goals to be addressed by the Sustainability Master Plan were noted to
include tripling annual air cargo volume, making the Airport the West Coast gateway of choice for
international travel, doubling the number of international flights, doubling the economic value of
cruise traffic, and meeting additional energy needs through conservation and renewable resources. 
Commissioner Creighton voiced his concerns over initiating additional programs at the Airport in
the absence of completion of Commission priorities regarding airport noise mitigation, worker
retention, and disadvantaged business enterprises. Commissioner Bryant commented on the cost
of $6 million for the request.  In response to Commissioner Bryant, Ms. Leavitt stated that
development of the master plan would take two years at a minimum and that sustainability master



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plan efforts for airports range in cost from $1.5 to $24 million. Commissioner Holland commented
on his concerns over lack of momentum on various Airport initiatives and stated he would withhold
his support for the Airport Sustainability Master Plan effort at this time. 
Commissioner Albro stated his support for engaging in a Sustainability Master Plan process and
noted the relationship between the master plan and achieving the Century Agenda preliminary
goals.  Commissioner Tarleton commented on the sustainability master planning process as
reflective of the values of the broader community and the priorities of workers and her interest in
adjustments to the scope of work for the master plan. 
At the discretion of the Chair, final disposition of agenda item 6b was postponed to a subsequent
Commission meeting. 
Commissioner Creighton was absent after 2:13 p.m. 
6c.  (00:45:50)  Authorization for the Chief Executive Officer to: (1) authorize $10,145,200
of tenant reimbursement budget associated with the design and construction of a new
flow-through ticketing area for Delta Air Lines and Virgin America Airlines at Seattle-
Tacoma International Airport; (2) execute a tenant reimbursement agreement with Delta
for this purpose under the Airport's AV-2 Policy; (3) authorize $2,663,800 of non-tenant
reimbursement budget for regulated materials abatement; and (4) authorize the use of
Port crews to construct a new Virgin America airline ticket office and remodel spaces
for two other offices that must be relocated to accommodate this project. This request
seeks a single Commission authorization to proceed with design, abatement, and
construction. The total estimated cost of this project is $13,125,000. The Port's portion
of the total project is $10,145,200 (CIP #C800492). 
Request document(s): Commission agenda memorandum dated August 6, 2012, and computer
slide presentation provided by Michael Ehl, Director, Airport Operations; Wayne Grotheer, Director,
Aviation Project Management Group; and James Jennings, Manager, Aviation Properties, Aviation
Business Development. 
Presenter(s): Mr. Jennings and Alan Olson, Capital Project Manager. 
The presentation for the action request identified the interest of Delta Air Lines to initiate
operational improvements in their ticket lobby similar to the flow-through design used by Alaska
Airlines and highlighted the associated increase to Airport-wide ticketing capacity and the project's
consistency with the Airport's long-term ticketing strategy. It was noted that Delta would perform a
large part of the work and that adjacent Virgin America and other Airport tenant facilities would be
affected. The justification given for requesting a single authorization for design and construction
was to perform the work outside of peak travel periods and to accommodate the schedule of
design work already begun by Delta at their own risk. 
An overview of the project was presented that noted the narrow width of the Airport's current ticket
lobby and the passenger congestion resulting after the merger of Delta Air Lines and Northwest
Airlines in 2010.  A diagram and artist rendering of the proposed flow-through design was
presented and the success of a similar design for Alaska Airlines was noted.


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Motion for approval of item 6c  Bryant 
Second  Holland 
Motion carried by the following vote: 
In Favor: Albro, Bryant, Holland, Tarleton (4) 
Absent for the vote: Creighton 
6d.  (00:55:00)  Authorization for the Chief Executive Officer to direct staff to develop
design documents, conduct sediment testing and environmental review, obtain
permits, and prepare construction documents for the Terminal 5 and Terminal 18
Maintenance Dredging Project for an estimated cost of $950,000, and to advertise for
bids and award major construction contracts for the first phase of Terminal 5 and
Terminal 18 Maintenance Dredging Project for an estimated cost of $1,000,000.  The
total project cost is estimated at $4,600,000. 
Request document(s): Commission agenda memorandum dated August 3, 2012, provided by
Scott Pattison, Seaport Asset Manager, and Catherine Chu, Capital Project Manager. 
Presenter(s): Mr. Pattison. 
The staff presentation for the request emphasized that the proposed dredging would restore the
berths to their originally designed depths and remove tide-related delays or restrictions for vessels
calling at the berths. The effects of maintenance dredging for three berths at Terminal 5 and the
interest of American President Lines (APL) in mooring larger ships at the south berth of Terminal 5
was noted. Completion of the Terminal 5 phase was estimated by February 15, 2013. It was
explained that the dredging at Terminal 18 is necessary to comply with the lease agreement that
requires the Port to maintain a depth of minus 50 feet. Staff noted that additional dredging for the
second phase of the project would be the subject of a separate authorization request in 2013. 
Motion for approval of item 6d  Albro 
Second  Bryant 
Motion carried by the following vote: 
In Favor: Albro, Bryant, Holland, Tarleton (4) 
Absent for the vote: Creighton 
6e.  (00:58:20)  Second Reading and Final Passage of Resolution No. 3665:  A Resolution
amending Unit 20 of the Comprehensive Scheme of Harbor Improvements of the Port of
Seattle (Lower Duwamish Industrial Development District) by: (i) declaring certain real
property surplus and no longer needed for port district purposes; (ii) authorizing its
transfer to BNSF Railway Company; (iii) deleting said property from Unit 20 of the
Comprehensive Scheme; and (iv) adding to Unit 20 of the Comprehensive Scheme
certain real property transferred by BNSF to the Port. Further requesting authorization
for the Chief Executive Officer to take all necessary steps and execute all documents,












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including an exchange agreement necessary to accomplish the exchange of properties
with BNSF Railway Inc. in accordance with state law; and requesting authorization for
Port staff to approve escrow settlement for the Port's net cost at closing of
approximately $51,000.  The Port's obligation for closing costs of approximately
$152,421 will be partially offset by BNSF's $97,000 reimbursement to the Port for
BNSF's share of the survey costs incurred related to this land exchange transaction
and offset by other prepaid credits. These offsetting payment obligations are reflected
in the closing documents for the land exchange title transfer. 
Request document(s): Commission agenda memorandum dated August 6, 2012, Resolution
No. 3665, legal descriptions attachment 2 and attachment 3, and exchange agreement provided by
Michael Burke, Director, Container Leasing and Asset Management. 
Presenter(s): Mr. Burke. 
Mr. Burke commented on his prior briefings on the resolution on July 24, 2012, and August 7,
2012. First Reading and a public hearing of the resolution were held August 7, 2012. 
Motion for second reading and final passage of Resolution No. 3665  Albro 
Second  Bryant 
Motion carried by the following vote: 
In Favor: Albro, Bryant, Holland, Tarleton (4) 
Absent for the vote: Creighton 
6f.   (01:01:11)  First Reading of Resolution No. 3666: A Resolution of the Port Commission
of the Port of Seattle declaring certain personal property surplus (Port of Seattle
Cranes No. 51, 52, and 53) for Port of Seattle purposes and authorizing its sale or
disposal; and authorizing the Chief Executive Officer to execute all documents related
to such sale or disposal. The amount of this request is not to exceed $1,500,000. 
Request document(s): Commission agenda memorandum dated August 6, 2012, Resolution
No. 3666, and computer slide presentation provided by Steve Queen, Container Operations
Manager, and Curtis Stahlecker, Project Manager. 
There was no presentation at this time; however, t he Port Commissioners received the request
documents for Resolution No. 3666 for review prior to the meeting of August 14, 2012. 
Motion for first reading of Resolution No. 3666  Bryant 
Second  Albro 
Motion carried by the following vote: 
In Favor: Albro, Bryant, Holland, Tarleton (4) 
Absent for the vote: Creighton



PORT COMMISSION REGULAR MEETING MINUTES              Page 8 of 12 
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7.   STAFF BRIEFINGS 
7a.  (01:02:31)  Century Agenda Milestones and 2013 Business and Capital Plans Briefing. 
Presentation  document(s):  Commission agenda memorandum  dated August 3, 2012, and
computer slide presentation provided by Dan Thomas, Chief Financial and Administrative Officer. 
[Clerk's note: The slide presentation erroneously listed the preliminary Century Agenda goal for air
cargo as tripling volume to 750,000 metric tons by 2017. It was announced during the presentation
this number was intended to be 350,000 metric tons by 2017 and that 750,000 metric tons is the
25-year goal.] 
Presenter(s):  Mr. Thomas; Mark Reis, Managing Director, Aviation Division; Borgan Anderson,
Senior Manager, Aviation Finance & Budget; Kazue Ishiwata, Air Service Market Development
Manager; Linda Styrk, Managing Director, Seaport Division; Joe McWilliams, Manager Director,
Real Estate Division; and Boni Buringrud, Senior Manager, Seaport Finance & Budget. 
Background for the Century Agenda strategic planning process and key preliminary goals were
presented, and the process of implementing Century Agenda preliminary goals through staff
actions incorporated into the divisions' business plans was described. The 2012 timeline for the
Century Agenda was presented, including preliminary goal adoption by the Commission in
January, public outreach between February and July, development of staff business plan, and
finalizing goals and regional and Port initiatives in the fall of 2012. 
Aviation 
The Aviation Division business plan was presented that included a report on the status of the
airline industry, which trends toward profitability despite adverse economic conditions and within
which growth is focused on large hubs with international connections. It was reported that 2012
enplanements are up 2.2 percent at the Airport and that load factors for aircraft are increasing. 
In response to Commissioner Albro, Mr. Anderson stated that a factor in parking revenue being
lower than budgeted is competition for parking and competitive rental car pricing reducing the
Port's net revenue from its rental car concessions. 
Aviation financial trends were presented, including net operating income before and after debt
service, declining capital spending, an anticipated need for bond issuance in 2013 to fund major
capital projects, slower-than-expected growth in cost per enplanement since 2005  due to
innovative Airport financial strategies, anticipated growth in international travel, long-term air cargo
opportunities, economic uncertainty in the U.S. and Europe, long-term capacity planning issues,
and pendency of an airline agreement. 
Seven previously established Aviation business strategies were described, for each of which fiveyear
objectives with various specific actions are under development to make them compatible with
preliminary Century Agenda goals. The strategies included the following: 
Operate a world-class international airport by ensuring safe and secure operations,
meeting the needs of tenants, passengers, and the region's economy, and managing our
assets to minimize the long-term total cost of ownership;

PORT COMMISSION REGULAR MEETING MINUTES              Page 9 of 12 
TUESDAY, AUGUST 14, 2012 
Become one of the top 10 customer service airports in the world by 2015; 
Lead the airport industry in environmental innovation and minimize the Airport's
environmental impacts; 
Reduce airline costs as far as possible without compromising operational and capital
needs; 
Maximize non-aeronautical net operating income consistent with current contracts,
appropriate use of Airport properties, and market demand; 
Continually invest in a culture of employee development, organizational improvement,
and business agility; and 
Develop valued community partnerships based on mutual understanding and socially
responsible practices. 
The target for growth of the aeronautical operations and maintenance budget in 2013 was
described as three percent, excluding costs for the airline realignment and regulated materials
management, dependent on the terms for an aeronautical rate-setting model in a new airline
agreement. Particular objectives and actions linked to the Aviation business plan and preliminary
Century Agenda goals were presented, including cargo infrastructure improvements, international
arrivals improvements, development of new international service, completion of an airport
sustainability master plan by 2015, optimization of ticketing and security checkpoint facilities,
evaluation of a potential Airport hotel, implementation of conservation practices, establishment of
low-impact-development requirements for stormwater, emissions-reduction efforts such as
provision of electrified ground support equipment and chargers and supplying preconditioned air to
aircraft, maximization of non-aeronautical net operating income from concessions and parking,
engagement in continuous process improvement and internships, completion of the Part 150 noise
and land-use study, and unified pest control in the main terminal area to ensure safe operations. 
Commissioner Tarleton commented on the importance of addressing regional freight mobility in
connection with increased air cargo capacity. In response to Commissioner Bryant, Elizabeth
Leavitt, Director, Aviation Planning and Environmental, stated that hydroelectric power is
considered a renewable energy resource for the purposes of the Airport's meeting its Century
Agenda goals due to its emissions impact, although there is not universal agreement on the subject
in the conservation community. 
Staff reported on significant Aviation capital projects and 2013 budget challenges related to the
NorthSTAR, long-term federal inspection services, radio upgrade, and baggage system programs
as well as potential costs related to noise programs, development of an Airport hotel, and
extension of Airport access to the south. 
Seaport 
Connections between Seaport business strategies and preliminary Century Agenda goals were
presented, noting especially promotion of small business growth and workforce development. It
was reported that the Seaport's commercial strategy is aligned with the preliminary Century
Agenda goals to position the Puget Sound region as a premier logistics hub and advance the
region as a leading tourism destination, with applications for all the Seaport lines of business,

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including container freight, cruise operations, grain shipping, industrial property, and fishing and
other maritime business. 
Alignment between the Century Agenda and business strategies for asset stewardship and green
gateway strategies were reported to include several key programs focused on small business and
workforce development, freight mobility, dredging, air quality improvements, stormwater
management, and habitat restoration. Strategic goals related to business development, financial
sustainability, and Port advocacy were noted. A container capacity growth plan listing projects in
various stages of completion was presented. Asset stewardship strategies related to asset condition
assessment, maintenance, and capacity growth, and Green Gateway strategies related to
compliance management, commercial support, and community commitment were also presented. 
Staff presented information on 2013 market outlook and revenue assumptions for container
business, noting that while TEU (twenty-foot-equivalent unit) growth is expected to be just below
four percent, the market is quite volatile.  Major work associated with container business in
alignment with the Century Agenda was described. 
Ms. Buringrud reported that container rate increases on January 1, 2013, would increase the
Seaport cash flow but not increase overall revenue due to an accounting adjustment. An historical
financial overview of actual revenues and expenses for 2010 and 2011 compared to the 2012
budget and forecast was presented, and a rise of forecasted revenue for 2012 was attributed to
refunding of Terminal 18 special facility bonds in December 2011.  An overview of container
income by facility showing the division of allocations was presented. 
The outlook for the cruise business, grain shipment, industrial properties, maritime operations, and
maritime security and emergency preparedness for 2013 was presented. 
Commissioner Bryant was absent after 3:45 p.m. 
Seaport capital projects were summarized and correlated to standardized project status and
anticipated expense and capital needs for each facility. A list of Seaport projects at Terminal 91
and other projects with CIP status and anticipated expenditure needs through 2022 was presented.
The financial outlook for 2013 for operating revenue and expense trends was presented, and the
outlook for expenses and revenue for 2012 were presented. 
Real Estate 
It was reported there is not much change in the real estate market since 2011, vacancy is between
18 and 20 percent, although Port properties are outperforming the market, deferred maintenance is
expected to be complete in 2013, and that major construction projects close to Port real estate
holdings have affected lease rates. 
Information regarding market conditions and capital markets were outlined and risks and exposure
was described related to Port ownership of the Eastside Rail Corridor. Revenues and expenses for
the Real Estate Division were summarized and outlined by business enterprises including fishing
and commercial harbor services, recreational boating, portfolio management, and the Eastside Rail



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Corridor. It was reported that recreational boating occupancy rates are better than for competitors.
Expenses related to development opportunity planning were summarized. 
A draft capital plan was presented and delineated by facility, including Fishermen's Terminal,
Shilshole Bay Marina, Maritime Industrial Center, Harbor Island Marina, Central Waterfront, Pier
69, and various other commercial properties. Pending land development projects were noted and
areas of priority for the Real Estate Division were presented, such as examining alternatives for
energy conservation measures, development of a protocol for managing the remainder of the Rail
Corridor, scrutiny of City of Seattle Shoreline Management Plan amendments, and infrastructure
improvements at the Bell Harbor Marina. 
7b.  (03:02:24)  2013 Budget Assumptions Briefing. 
Presentation document(s):  Commission agenda memorandum  dated August 3, 2012, and
computer slide presentation provided by Dan Thomas, Chief Financial and Administrative Officer,
and Michael Tong, Corporate Budget Manager. 
Presenter(s): Mr. Thomas and Mr. Tong. 
An overview of issues affecting budget planning for 2013 was presented, including conservative
budgeting in response to economic uncertainty and a continued focus on managing operating and
maintenance costs. Preliminary payroll assumptions reported to be applicable to non-represented
employees included an average pay-for-performance increase of three percent, a two-percent
market-based salary range increase, medical and dental cost increase of 2.2 percent contrasted
with an overall medical inflation rate of approximately eight percent, and Public Employees
Retirement System employer contribution increases from 7.21 to 9.1 percent in July 2013, with a
blended rate of 8.16 percent for 2013. It was reported that progress continues to be made in the
management of cost-of-living adjustments and health-care cost sharing for represented employees. 
Factors expected to drive costs in 2013 were noted to include a full-year impact of the new Rental
Car Facility and related busing expenses and new staff costs, support for Century Agenda efforts,
a Port-wide economic impact study, and new division initiatives. 
The calendar for development of the 2013 budget was summarized, including First Reading and
Public Hearing on the budget resolution on November 13 and Second Reading and Final Passage on
November 27. The need for a tax levy discussion prior to preliminary budget review was discussed. 
Final 2013 budget documents and draft plan of finance are expected to be released to the public by
December 14, 2012. 
(03:14:42)  Preliminary Briefing on Industrial Development Corporation Special Facilities
Revenue Refunding Bonds. 
Elizabeth Morrison, Senior Manager, Corporate Finance, announced that staff intends to request
Commission authorization to refund for savings special facilities revenue bonds related to hangar
improvements for Northwest Airlines subsequently assumed by Delta Air Lines when the two

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TUESDAY, AUGUST 14, 2012 
airlines merged. She explained that the bonds were an instrument of the Industrial Development
Corporation (IDC) of the Port of Seattle and would require separate actions by the IDC and the Port
Commission by resolution. 
8.   NEW BUSINESS 
(03:16:18) Chief Executive Officer's Membership on the Board of Directors of Expeditors
International. 
Commissioner Tarleton announced that she had received communication from members of the
public concerned about compensation for the Port's Chief Executive Officer in connection with his
acceptance of a Board of Directors position with a local for-profit company. She stated that State
law permits public officials to hold such posts and that she had voted against the CEO's
employment contract because she does not believe public officials should serve on for-profit
boards.  Nonetheless, she stated that the CEO is in full compliance with the terms of his
employment contract, that continued compliance would be monitored through audits, and that the
Commission's approval of the CEO's employment contract was in compliance with the law. 
(03:17:12)  Government Finance Officers Association Distinguished Budget Presentation
Award. 
Commissioner Tarleton announced that the Accounting and Financial Reporting Department has
received the Government Finance Officers Association's Distinguished Budget Presentation Award
for the 2012 budget document, and that this is the fifth consecutive year the award has been 
presented to the Port. 
9.   POLICY ROUNDTABLE 
None. 
10.  ADJOURNMENT 
There being no further business, the regular meeting was adjourned at 4:45 p.m. 

Tom Albro 
Secretary 
Minutes approved: October 9, 2012.