Columbus, Georgia

DEVELOPMENT AUTHORITY



AGENDA



February 6, 2002 ? 9:00a.m.



======================================================



ITEM 1: Call to Order Jim Buntin



ITEM 2: Minutes of JanuaryMeeting Jim Buntin



ITEM 3: Financial Report Fernando Verdree

q Report on Audit Jay Pease/Gena Stone



ITEM 4: Economic Development Update Michael Gaymon



ITEM 5: Properties Dayton Preston

qCRIP19-acre site Becca Hardin

q M-1 Rezoning of Fall Line Business Centre? Jim Buntin

q MTP Site, Track 1, Lot 1 Biff Hadden

q CEIP 32-acre site Biff Hadden



ITEM 6: Legal Issues Ed Sprouse

qAuthorization for Loan Renewal (Fall Line Business Centre)

q Inducement Resolution ? Fountain City Denim, LLC

qKysor Industrial Corp. Bond Termination & Reconveyance of

Project



ITEM 7: Other Issues

q Any Other Matters



ITEM 8: Executive Session as Needed Jim Buntin



ITEM 9: Meeting Adjourned Jim Buntin



















MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

February 6, 2002



MEMBERS PRESENT

Jim Buntin, Stephen Butler, Bob Gilson, Frank Etheridge, Fernando Verdree



MEMBERS ABSENT

Deborah Lane, Jimmy Yancey



ALSO PRESENT

Billy Blanchard, Carmen Cavezza, Dick Ellis, David Fox, Becca Hardin, Buddy

Merrill, Jay Pease, Dayton Preston, Jodi Saunders, Richard Smith, Edward

Sprouse; Gena Stone, Chuck Williams, Katherine Kelly, Mike Gaymon,, Biff Hadden



Jim Buntin, Chairman, noting that a quorum was present and proper notice had

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

February 6, 2002 meeting to order.



MINUTES

The minutes of the January 16, 2002meeting of the Authority were presented.

Upon motion made by Frank Etheridge and seconded by Steve Butler, the Minutes

of the January 16, 2002 Authority meeting were unanimously approved.



FINANCIAL REPORT

Fernando Verdree reviewed the financial report for January 2002 attached hereto

as Exhibit ?A?. He reported that as a result of the audit some monies will be

moved to a different money market account. Jay Pease and Gena Stone of

Robinson, Grimes and Company reviewed the audit report of the Authority for the

fiscal year ending June 30, 2001, a copy of which is attached hereto as Exhibit

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

Authority unanimously approved the Fiscal Year July 31, 2000 - June 30, 2001

Audit Report.



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

Authority adjourned until after the CEDC meeting.



The Authority was called to order following the CEDC meeting.



The Economic Update was deferred until the arrival of Mike Gaymon.



PROPERTIES

1. Dayton Preston reported that the MTP will now be permitted by Fish

and Wildlife within 30-45 days for all mitigation.

2. Upon motion made by Steve Butler and seconded by Bob Gilson, the

Authority unanimously approved the resolution in the form attached hereto as

Exhibit ?C? granting an additional 30 days until March 15, 2002, for the

prospect interested in the Corporate Ridge Industrial Park 19-acre site to

obtain a final decision on the site from the CEO.

3. Jim Buntin made comments on the AMD project. Even though Singapore

was selected, the Columbus region was the recommended site in the United States.

4. M-1 Rezoning ? Jim Buntin reported that the request to rezone the

remaining acres of the Fall Line Business Centre? to M-1 has been removed from

the agenda for the February 6, 2002 meeting of the Planning Advisory

Commission. Each packet contains a letter from Ron Hamlett regarding this

issue. Further information will be gathered before bringing the matter back to

the Authority.



LEGAL ISSUES

1. Upon motion made by Frank Etheridge and seconded by Fernando

Verdree, the Authority unanimously approved the Resolution in the form attached

hereto as Exhibit ?D? authorizing the renewal of the loan for the acquisition

of the Fall Line Business Centre? for a term not to exceed 3 years and for an

amount not to exceed $1.8M.

2. Upon motion made by Frank Etheridge and seconded by Bob Gilson, the

Authority unanimously approved the Inducement Resolution in the form attached

hereto as Exhibit ?E? in the amount of $20M for Fountain City Denim, LLC.

3. Upon motion made by Frank Etheridge and seconded by Steve Butler,

the Authority unanimously approved the Resolution in the form attached hereto

as Exhibit ?F? authorizing the execution of a Lease Termination Agreement, Bill

of Sale and Quit Claim Deed which re-conveys the project to Kysor Industrial

Corporation in termination of a bond issue that was supposedly paid in full in

1999. Ed Sprouse will follow up a way to make sure bond terminations take

place in a timely manner.



Property Continued:

Biff Hadden reported that company originally interested in purchase of MTP

site, Track 1, Lot 1 (15 acres) would now like to explore the lease cost of a

100, 000 sq ft building to be leased from CEDC. He also reported that the

company interested in the Columbus East Industrial Park 32-acre site now

looking at possibility of leasing a 137,000 sq ft expandable building through

CEDC.



Mike Gaymon reported on the overview of the reaccredidation of the Columbus

Chamber. It will be recommended to the US Chamber that the Columbus Chamber be

accredited for another 5 years. He announced that Bob Gilson will chair the

search committee for a Sr. Vice President for Economic Development.



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

made by Frank Etheridge and seconded by Fernando Verdree, the meeting was

adjourned.





By:_____________________________

J. Edward Sprouse, Secretary





Approved by:



____________________________________

James E. Buntin, Chairman