Columbus, Georgia

DEVELOPMENT AUTHORITY



AGENDA



June 5, 2002 ? 9:00a.m.



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ITEM 1: Call to Order Steve Butler, Vice Chair



ITEM 2: Minutes of May Meetings Steve Butler



ITEM 3: Financial Report Fernando Verdree



ITEM 4: New Business Steve Butler

- Election of Officers

- Appoint Authority Member to attend MTP Joint Development

Committee Meetings

- Desirability of Orientation/Work Session



ITEM 5: Economic Development Update Mike Gaymon



ITEM 6: Properties Dayton Preston



ITEM 7: Legal Issues Ed Sprouse

- Resolution requesting transfer of Lot 1, Tract 1 in Muscogee

Technology Park from the City to Litho-Krome Company

- Inducement Resolution for Four JS Family, LLLP

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ITEM 8: Other Issues Steve Butler

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ITEM 9: Executive Session Steve Butler



ITEM 10: Meeting Adjourned Steve Butler













MINUTES OF THE MEETING OF

THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

June 5, 2002



MEMBERS PRESENT

Steve Butler, Dick Ellis, Bob Gilson, Allen Taber, Fernando Verdree



MEMBERS ABSENT

Debbie Lane, Jimmy Yancey



ALSO PRESENT

Rick Alexander, Richard Bishop, Mike Gaymon, Biff Hadden, Becca Hardin, Blake

Melton, Buddy Merrill, John Mills, Bob Poydasheff, Dayton Preston, Randy

Rivinus, Jodi Saunders, Richard Smith, Ed Sprouse; 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

June 5, 2002 meeting to order.



Ed Sprouse introduced Blake Melton who is interning with Page, Scrantom,

Sprouse, Tucker and Ford this summer.



MINUTES

The minutes of the May 1, 2002 meeting of the Authority were presented. Upon

motion made by Bob Gilsonand seconded by Fernando Verdree, the Minutes of the

May 1, 2002 Authority meeting were unanimously approved. Upon motion made by

Dick Ellis and seconded by Fernando Verdree, the Minutes of the May 23, 2002

Authority meeting were unanimously approved.



FINANCIAL REPORT

Fernando Verdree reviewed the report for May2002 is attached hereto as Exhibit

?A?. Upon motion made byBob Gilson and seconded by Allen Taber, the Authority

unanimously approved the May 2002 Financial Report.



NEW BUSINESS

1. Election of Officers ?Upon motion made by Fernando Verdree and

seconded by Allen Taber, the Authority elected the following as officers of the

Authority: Bob Gilson, Chair; Stephen Butler ? Vice Chair; Ed Sprouse ?

Secretary; Fernando Verdree ? Treasurer; Dayton Preston ? Assistant

Secretary/Assistant Treasurer.

2. MTP Joint Development Committee Meetings ? Upon motion made by

Fernando Verdree and seconded by Allen Taber, the Authority appointed the

chairman, Bob Gilson, with Dick Ellis as an alternate, to be the Development

Authority representatives on the MTP Joint Development Committee.

3. Orientation/Work Session ? The Authority decided to hold a special

session for orientation and to further develop a working plan and budget for

the Authority. Members will be notified of the time and place of the work

session.



ECONOMIC DEVELOPMENT UPDATE

Bob Gilson reported that an offer for the position of Sr. VP for Economic

Development had been made to one of the four individuals who visited. Mike

Gaymon reported that three existing buildings are now off the market meaning

that companies are expanding with one being a new company. The staff is now

making first steps for more aggressive marketing. Becca Hardin reported on

progress with revising ?Project Chip? information and plans for a trip to New

York and Chicago to visit consultants. Other items being researched are the

occupational state tax and equipment tax incentives.



PROPERTIES

1. There are still some buildings available such as The Russell Office

Space and the spec building on Cargo Drive as well as the Butler spec

building. The master planning for MTP continues.



LEGAL ISSUES

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

Authority unanimously approved the resolution in the form attached hereto as

Exhibit ?B? to request the City to transfer the 15.4 acres known as Tract 1

Parcel 1 of Muscogee Technology Park to the Development Authority of Columbus,

Georgia to be conveyed to Litho-Krome for its project.

2. Upon motion made by Bob Gilson and seconded by Dick Ellis, the

Authority unanimously approved the resolution in the form attached hereto as

Exhibit ?C?. authorizing the execution of the option to Masterbuilt on the CRIP

19.4 acres with the specified date of expiration of September 20, 2002.

3. Upon motion made by Bob Gilson and seconded by Dick Ellis, the

Authority unanimously approved the Inducement Resolutionin the form attached

hereto as Exhibit ?D? in the amount of $10M for the purchase of the Hilton

Hotel by Four JS Family, LLC.

4. Upon motion made by Bob Gilson and seconded by Fernando Verdree, the

Authority unanimously approved an Inducement Resolution in the form attached

hereto as Exhibit ?E? in the amount of $10M for PTI-Ventures, LLC for land,

building and machinery.



OTHER ISSUES

Ed Sprouse suggested that the use of LOCI studies by Georgia Tech Development

Office for every project and the development of a matrix to assist in providing

consistency in the use of incentives be discussed at the work session in order.



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

made by Allen Taber and seconded by Fernando Verdree, the meeting was adjourned.





By:_____________________________

J. Edward Sprouse, Secretary

Approved by:



____________________________________

Robert M. Gilson, Jr.,Chair