Columbus, Georgia

DEVELOPMENT AUTHORITY



AGENDA



August 7, 2002 ? 9:00a.m.



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ITEM 1: Call to Order Bob Gilson, Chair



ITEM 2: Minutes of July Meetings Bob Gilson



ITEM 3: Financial Report Fernando Verdree



ITEM 4: New Business Bob Gilson

Request from Korean School



ITEM 5: Economic Development Update Mike Gaymon



ITEM 6: Properties Dayton Preston

MTP Issues Jeff Mills

MTP Wastewater Discharge Capacities

MTP Mega-Site Locations

Eastern Connector Rd Schedule/Development Considerations





ITEM 7: Legal Issues Ed Sprouse

Litho-Krome Company Bond resolution

Denim North America Bond Resolution

Muscogee Technology Park Association, Inc. Organization

Declaration of Protective Covenants MTP

DDA ? Ralston Matter



ITEM 8: Other Issues Bob Gilson

Request from John McLemore





ITEM 9: Executive Session (if needed) Bob Gilson



ITEM 10: Meeting Adjourned Bob Gilson











MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

August 7, 2002



MEMBERS PRESENT

Steve Butler, Dick Ellis, Bob Gilson, Fernando Verdree



MEMBERS ABSENT

Debbie Lane, Allen Taber, Jimmy Yancey



ALSO PRESENT

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

Biff Hadden, Becca Hardin, Don McLemore, John McLemore, Buddy Merrill, Jeff

Mills, John Mills, Dayton Preston, Randy Rivinus, Jodi Saunders, Richard Smith,

Ed Sprouse; Robert Teem, Chuck Williams, Joe Young (CB&T intern) 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

August 7, 2002 meeting to order.





MINUTES

The minutes of the July 10 and July 17, 2002 meetings of the Authority were

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

the Minutes of the July 10, 2002 and July 17, 2002 meetings of the Authority

meeting were unanimously approved.



FINANCIAL REPORT

Fernando Verdree reviewed the report for July 2002 is attached hereto as

Exhibit ?A?. All signatories have been obtained on all Authority accounts.

Upon motion made by Steve Butler and seconded by Dick Ellis, the Authority

unanimously approved the July 2002 Financial Report. The KPG REBA Grant is

ready for drawdown.



NEW BUSINESS

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

Authority unanimously approved the request hereto attached as Exhibit ?B? from

the Korean School for $500 in financial assistance.



ED UPDATE

Mike Gaymon reported have 32 projects are considering Columbus region with 5

white-collar companies, 4 major retailers, and rest manufacturing. Six percent

are new projects rather than expansions. Several projects are being worked

hard ? the development of the technology strategy and recruiting Hyundai

suppliers. Suresh Gopalan is developing a model for the cluster industries.

Billy Blanchard commented on his meetings with project managers in Atlanta

yesterday. Dayton will be going to Marion County to work on a project to

export hardwood. He thanked the whole ED Team for all the hard work in the

last months. Carmen Cavezza reported that work is being done to help Columbus

Development Business Center ?clean it up.? Jimmy Yancey will make a

presentation to the Chamber Board on August 28th.



PROPERTIES

Muscogee Technology Park (MTP) - Jeff Mills from Jordan Jones & Goulding

presented an update on the developments in MTP. There were several handouts

distributed.

1. City is close to a contract to bring the road to Tract 1.

2. Columbus Water Works will develop water/sewer systems, ready for bids,

should be completed in 6-8 months.

3. Mega Site - reviewed advantages and disadvantages of mega site, it was

decided by Authority to leave north portion as mega site until present project

is completed and if does not announce then decide how to market that site.

4. A critical piece is getting the environmental clearance which should be no

later than Spring 2003.

5. Presented issues on the development and location of the Eastern Connector;

trying to work on moving date of road construction from 2006 to an earlier date.



LEGAL ISSUES

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

Authority unanimously approved a resolution authorizing an Agreement between

Georgia Tech Research Corporation and the Development Authority for Local

Impact Analysis Studies to be provided on projects at a discounted cost of

$11,250 annually to be paid quarterly and empowering the Chairman of the

Authority to execute any necessary documents.

2. Upon motion made by Steve Butler and seconded by Fernando Verdree, the

Authority unanimously approved the Bond Resolution in the form attached hereto

as Exhibit ?C? in the amount of $10,625,000 for Litho-Krome authorizing the

execution of all necessary documents including the incentive agreement.

3. Upon motion made by Dick Ellis and seconded by Steve Butler, the Authority

unanimously approved the Bond Resolution in the form attached hereto as Exhibit

?D? in the amount of $9,000,000 for Denim North America authorizing the

execution of all necessary documents. The issue will be a tax exempt issue.

4. Upon motion made by Fernando Verdree and seconded by Steve Butler, the

Authority approved a resolution authorizing the organization of a non-profit

Georgia corporation under the name ?Muscogee Technology Park Association, Inc.?

to serve as the entity to which owners of property in Muscogee Technology Park

would be members and which would provide for matters pertaining to the

maintenance and operation of Muscogee Technology Park, said authorization to

include taking any and all action as shall be reasonably necessary in order to

organize the corporation and for it to commence to transact business.

5. Upon motion made by Steve Butler and seconded by Fernando Verdree, the

Authority unanimously approved the resolution amending the Option Agreement

dated as of May 1, 2002 among John McLemore, Don McLemore and the Development

Authority to extend the date of the expiration of the option until 12:00

Midnight on January 20, 2003.

6. For information only, it was reported that the Downtown Development

Authority received notice concerning the default of the company under the 1999

Ralston bond issue. Information concerning the default has been requested of

the Trustee.

7. Upon motion made by Dick Ellis and seconded by Steve Butler, the Authority

unanimously authorized and approved the execution of the Declaration of

Protection Covenants for Muscogee Technology Park Parcel 1 which is almost

identical to one for Corporate Ridge Industrial Park.



Upon motion made by Steve Butler and seconded by Fernando Verdree, the

Authority unanimously approved going into Executive Session for the purpose of

discussing the acquisition of property.



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

Session was unanimously adjourned.



Biff Hadden showed the members a representation of the Litho-Krome site.



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

made by Fernando Verdree and seconded by Dick Ellis and unanimously adopted,

the meeting was adjourned.





By:_____________________________

J. Edward Sprouse, Secretary

Approved by:



____________________________________

Robert M. Gilson, Jr., Chair