Site work and paving for a transportation facility in Indianapolis, Indiana. Completed plans call for site work for a transportation facility; and for paving for a transportation facility.

https://www.fitchratings.com/research/infrastructure-project-finance/fitch-affirms-indianapolis-int-l-airport-in-local-pub-impr-bond-bank-revs-at-a-outlook-stable-12-06-2026 Fitch Ratings - Chicago - 12 Jun 2026: Fitch Ratings has affirmed the 'A+' rating on Indianapolis Airport Authority, IN's (IAA) $844 million project bonds issued by the Indianapolis Local Public Improvement Bond Bank (the bond bank) on behalf of Indianapolis International Airport (IND). The Rating Outlook is Stable. IAA has another approximately $215 million of parity IND revenue bonds outstanding, which Fitch does not rate. The rating reflects the mid-tier air trade service area, which is well-anchored and supported by a midsized and growing origination and destination (O&D) traffic base. FedEx's second-largest hub complements that base with strong cargo activity. Indianapolis benefits from a diverse carrier mix and limited competition from its surrounding airports. The rating further reflects the airport's hybrid commercial compensatory use and lease agreement (AUL) in effect through 2027, which has resulted in stable and sound financial performance. KEY RATING DRIVERS Revenue Risk - Volume - High Midrange Diverse Carrier Base, Stable Local Market: IND serves a stable and diverse region comprising primarily O&D enplaned passengers. IND benefits from healthy competition among carriers, with no single carrier representing more than 28% of enplanements and ultra-low-cost carriers (ULCCs) representing around 14% of the market. Federal Express Corp. (FedEx) operates its second-largest global sorting facility at the airport and has demonstrated its commitment to Indianapolis with a long-term land lease and continued significant capital improvements. The diverse revenue stream should allow the airport to maintain a competitive cost per enplanement (CPE) although future airline rates will be rising in upcoming years. Revenue Risk - Price - Stronger Strong Recovery Framework: IAA's hybrid agreement is airfield/apron residual and terminal commercial compensatory. The AUL benefits from an extraordinary coverage provision that provides downside protection if revenues are insufficient to comply with the rate covenant. Surplus cashflows also allow for revenue sharing, which benefits the signatory carriers. A large amount of air cargo activity provides some diversity to the airport's revenue base and helps maintain a stable cost environment by distributing airfield expenses across a broader customer base. Infrastructure Dev. & Renewal - Stronger Manageable Capital Needs: Operating out of a terminal that opened in 2008, the authority's capital improvement needs cover a mix of projects that support both asset preservation and commercial revenue enhancements. The proposed financing for an airport hotel is unusual for midsize airports. The hotel will be primarily funded through previous borrowings. IAA's larger capital improvement program is expected to be funded with approximately 30% from additional debt and the remainder relatively evenly split between IAA funds and federal grants. -------------------------- Each bid shall include all work, labor, equipment, and materials necessary to complete the project as required in strict compliance with the drawings and specifications (Plans) prepared by Butler, Fairman & Seufert, Inc., 500 East 96th Street, Ste. 500, Indianapolis, Indiana 46240. The successful bidder will be required to pay laborers, workmen, mechanics and other employees on the work under this contract not less than the prevailing wage for each craft, trade or occupation as established under the Davis-Bacon Act. The Indianapolis Airport Authority, in accordance with the provisions of Title VI of the Civil Rights Act of 1964 (78 Stat. 252, 42 U.S.C. §§ 2000d to 2000d-4), 28 CFR § 50.3, and 49 CFR Part 21, hereby notifies all bidders that it will affirmatively ensure that any contract entered into pursuant to this advertisement, all contractors will be afforded full opportunity to submit bids in response to this invitation and will not be discriminated against on the grounds of the owner’s race, color, national origin, sex, creed, age, or disability in consideration for an award. All bids shall be accompanied by a scanned copy of the bid bond in an amount of not less than 5% of the contract amount. Original copy of the bid bond will be requested from the successful bidder immediately following the bid opening. Contractors awarded a contract will be required to furnish acceptable surety bonds in the amount of 100% of the contract price. Said performance, material and payment bond shall remain in effect for twelve (12) months after the date of the Owner's final acceptance of Contractor’s work. Should a successful bidder withdraw their bid or fail to execute a satisfactory contract, the Indianapolis Airport Authority may declare the bid deposit forfeited. The Indianapolis Airport Authority reserves the right to reject any and all bids. Question Deadline 05/05/2026 at 3:00 PM ET For general information or questions, please contact PDAdmins@ind.com.