Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

March 5, 2003



MEMBERS PRESENT

Steve Butler, Dick Ellis, Allen Taber, Fernando Verdree, Jimmy Yancey



MEMBERS ABSENT

Bob Gilson, Debbie Lane



ALSO PRESENT

Richard Bishop, Billy Blanchard, Carmen Cavezza, Mike Gaymon, Robbie Green,

Biff Hadden, Becca Hardin, Greg Allmendinger, John Mills, Jay Pease, Bob

Poydasheff, Dayton Preston, Joe Sanders, Ed Sprouse; Gena Stone, Janeen Tucker,

Chuck Williams, Katherine Kelly



Steve Butler, Vice Chairman, noting that a quorum was present and proper notice

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

March 2, 2003 meeting to order.



MINUTES

Upon motion made by Jimmy Yancey and seconded by Dick Ellis, the Authority

unanimously approved the minutes of the February 5, 2003 meeting hereto

attached as Exhibit ?A?.



FINANCIAL REPORT

Fernando Verdree reviewed the financial report for February 2003 which is

attached hereto as Exhibit ?B?. Upon motion made by Jimmy Yancey and seconded

by Dick Ellis, the February 2003 financial report was unanimously accepted.

Jay Pease presented the Audit Report of the Development Authority for the

fiscal year ended June 30, 2002. Upon motion made by Dick Ellis and seconded by

Allen Taber, the Authority unanimously approved the Audit Report and comments

as presented.



ED UPDATE

1. Becca Hardin reported that there are 28 active projects 3 of which are in

the Enterprise Zone. There have been 3 prospect visits and one is scheduled

for tomorrow. Ten RFI?s have been received as initial inquiries with a nice

mix of information technology and manufacturing companies.

2. The State is representing Columbus and the Valley Partnership at the trade

shows it attends.

3. There are 7 existing companies considering expansion. Three projects have

been moved to announced or completed status.

4. Marketing trips have been made to New York City where we were able to meet

25-30 consultants and to the West Coast (Portland and Los Angeles). The trips

with Greater Georgia have been very worthwhile and this is a great way to pool

dollars for marketing.

5. An ad will run in Expansion Management Magazine for 3 months. We are

already receiving leads from Expansion Management Magazine of companies

interested in this geographic location.

6. A marketing brochure for the Valley Partnership has been published. An

insert will be produced which gives the data for the entire Region. ED

Department is continually updating all information in order to send an

electronic package in response to inquiries.

7. The draft of the proposed MTP Covenants have been reviewed by Ed Sprouse.

8. Commissioner Glenn Cornell is visiting on March 12th.

9. Jimmy Yancey gave an update on the current AFLAC project to increase its

workforce. Janeen Tucker has been involved with developing a pilot program to

find qualified applicants. Applications are made through the Department of

Labor. At present there have had 260 applicants. This is a good response to

the first ad campaign.

10. Becca will have a written report for future Authority meetings.



PROPERTIES

1. Dayton Preston reported that the road at Litho-Krome is almost complete and

can be used even though not paved at present. Development Plans are being made

for MTP in order to be able to drive in and show some properties.

2. Dayton Preston also reported on the difficulty with selling or leasing the

privately owned spec building in CEIP which has a small lot acreage (7 acres).

It may be possible to use 3-4 acres of flood plain land owned by the Authority

for parking at the site.

3. Mike Gaymon reminded the members that prospects want ?shovel ready? sites.

The next steps in the master planning of FLBC will be a decision on possible

greenspace for the City.



NEW BUSINESS

None



LEGAL ISSUES

1. Upon motion made by Allen Taber and seconded by Jimmy Yancey, the Authority

unanimously approved a resolution in the form hereto attached as Exhibit ?C?

regarding reduced administrative fees for the refunding of a bond issue with a

second bond issue, both of which are closed in the same calendar year. This

resolution was requested in connection with the Victory Crossing Project, but

it would apply to any similar project.

2. Upon motion made by Dick Ellis and seconded by Jimmy Yancey, the Authority

unanimously approved a resolution in the form hereto attached as Exhibit ?D?

consenting to the transfer all bonds held by Swift Spinning Mills, Inc. to

Swift Spinning, Inc. in connection with a corporate reorganization

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

unanimously approved the execution of Subordination, Non-Disturbance, and

Attornment Agreements for the Columbus Park Crossing Project of Ben Carter

Properties and the execution of any future Subordination, Non ?Disturbance, and

Attornment Agreements as they are requested in connection with the Columbus

Park Crossing Project.



OTHER ISSUES:

none



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

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

meeting was adjourned.

By:_____________________________

J. Edward Sprouse, Secretary

Approved by:



____________________________________

Robert M. Gilson, Jr., Chair