Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

December 4, 2002



MEMBERS PRESENT

Dick Ellis, Bob Gilson, Allen Taber, Fernando Verdree



MEMBERS ABSENT

Steve Butler, Debbie Lane, Jimmy Yancey



ALSO PRESENT

Rick Alexander, Richard Bishop, Billy Blanchard, Carmen Cavezza, Mike Gaymon,

Biff Hadden, Becca Hardin, Suzanne Mettier, Bob Poydasheff, Dayton Preston, Ed

Sprouse; Chuck Williams, Katherine Kelly



Bob Gilson, Chairman, noting that a quorum was present and proper notice had

been given in accordance with the requirements of Georgia law, called the

December 4, 2002 meeting to order.



MINUTES

Upon motion made by Allen Taber and seconded by Dick Ellis, the Authority

unanimously approved the minutes of the November 22, 2002 meeting.



FINANCIAL REPORT

Fernando Verdree reviewed the report for November 2002 which is attached hereto

as Exhibit ?A?. The November bank statements have not been received yet. The

Kodak Polychrome Graphics REBA grant has been received and deposited. There is

about $95,000 in the Millage Account. The November 2002 Financial Report was

accepted.



LEGAL ISSUES

1. Upon motion made by Dick Ellis and seconded by Allen Taber, the

Authority unanimously approved signing the application for Bond Allocation for

the Ironwood Development Project.

2. Upon motion made by Allen Taber and seconded by Fernando Verdree,

the Authority unanimously approved Bond Resolution in the form attached hereto

as Exhibit ?B? in an amount not to exceed $5,000,000 for the Swift Spinning

Project for equipment and land acquisition and building expansion.

3. Upon motion made by Fernando Verdree and seconded by Dick Ellis, the

Authority unanimously approved the Supplemental Bond issuing Bond Resolution

R-2 in the form attached hereto as Exhibit ?C? in the amount of an additional

$30,450,000 for the Ben Carter Properties, LLC Project to cover the capital

expenditures in 2002.

4. Upon motion made by Allen Taber and seconded by Fernando Verdree,

the Authority unanimously authorized the amendment of the least agreement and

all related documents of the of the Ben Carter Properties, LLC Project

authorizing the exchange of land with the Adams property in order to align the

actual land needed for development of the project.

5. Upon motion made by Dick Ellis and seconded by Allen Taber, the

Authority unanimously approved a Supplemental Resolution in the form attached

hereto as Exhibit ?D? for the issuance of Bond No. R-2 in the amount of

$1,134,178.58 for Columbus Productions Project, and all related documents.

6. Upon motion made by Fernando Verdree and seconded by Allen Taber,

the Authority unanimously approved the Bond Resolution with exhibits in the

form hereto attached as Exhibit ?E? in the amount of $7,500,000 for

Weyerhaeuser Company for expansion and equipment purchase.

7. Upon motion made by Allen Taber and seconded by Dick Ellis, the

Authority unanimously approved the Bond Resolution in the form hereto attached

as Exhibit ?F? in the amount of $13,270,000 for the Four JS Family, LLLP

Project.

8. Upon motion made by Fernando Verdree and seconded by Allen Taber,

the Authority unanimously approved the Supplemental Bond Resolution and all

necessary documents in the form attached hereto as Exhibit ?G? in the amount of

$7,385,000 for New Northgate Village Project with an initial interest rate of

5.35% on the $7,000,000 tax-exempt Bonds and 4.25% on $385,000 in taxable Bonds.

9. Upon motion made by Fernando Verdree and seconded by Dick Ellis, the

Authority unanimously approved a contract with Brown Trucking on the terms set

forth on Exhibit ?H? attached hereto which the obligations would survive the

closing of the property sale and with the design and construction of the

Project subject to Authority approval.



ED UPDATE

Becca Hardin reported that the ED staff is looking at a process to insure

contract of services between the Authority and the Chamber is followed. Staff

will be concentrating on development of parks. Marketing pieces will be

developed around the Clusters. Workforce development is a key issue for the

region. She reported that Buddy Merrill has offered to cover the cost of the

Georgia Power Site Analysis which will include examining a 1000-acre site in

Talbot County. Bob Gilson indicated that the spending plan for the millage

from the City needs to be re-assessed at the work session in January. She

presented a chart of the 2002 Announcements/Completions to date which indicted

that it has been a decent year. She presented a list of the bond

administrative fees received by the Authority for calendar years 2000-2002.

Reports of projects will be related to the six cluster industries. There are

17 projects which relate to the cluster industries and 14 additional currently

active projects. The staff will be reviewing the BREP Study results and doing

follow-ups where needed. In Muscogee County, 17 companies indicated

considering expansion. The ED staff has already worked with 16 of these

companies. A position description is being prepared for hiring a project

manager. Bob Poydasheff suggested that this type of report be made to City

Council probably in February. Mike Gaymon reported that Becca Hardin recently

made a report to the City Council on the Cluster Industries.



PROPERTIES

1. Dayton reported that Chattahoochee County has a 25-year lease with

the Corps of Engineers for Riverbend. Nancy Cobb visited Riverbend and will

investigate sources of money to improve the park.

2. The corners of the 200-acre site in MTP have been marked. More

clearing of the site is scheduled. Burning will take place in January. He is

meeting this week with Litho-Krome regarding the widening of Chattsworth Road.

The bids for the 900 feet of water line have not been received.

3. Bob Gilson and Dick Ellis are following developments with the Fall

Line Business Centre.

4. Upon motion made by Fernando Verdree and seconded by Allen Taber,

the Authority unanimously approved selling the 8.9-acre lot in Columbus East

Industrial Park to Kysor-Warren for $10,000.



NEW BUSINESS

January meeting date ? It was decided that when the first Wednesday of the

month is a holiday, then the Authority will meet on the second Wednesday of the

month. Therefore, the January meeting will be on Wednesday, January 8, 2003 at

9am.



OTHER ISSUES:

Carmen Cavezza announced that Dick McGee is retiring. There will be a

reception on December 10th for Bobby Peters. Dick Ellis and Allen Taber will

be registered for the Development Authority Board Member Training Session.



There being no further business to come before the Authority and upon motion

made by Dick Ellis and seconded by Allen Taber and unanimously adopted, the

meeting was adjourned.





By:_____________________________

J. Edward Sprouse, Secretary

Approved by:



____________________________________

Robert M. Gilson, Jr., Chair