Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

December 15, 2003



MEMBERS PRESENT

Steve Butler, Dick Ellis,Bob Gilson, Stella Shulman,Allen Taber, Fernando

Verdree



MEMBERS ABSENT

Jimmy Yancey



ALSO PRESENT

Richard Bishop, Mike Gaymon, Biff Hadden, Becca Hardin, Dayton Preston, Ed

Sprouse; 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 15, 2003 meeting to order.



LEGAL ISSUES

1. Ed Sprouse stated that due to Congressional delays in providing

funding to HUD which have resulted in cessation of the issuance of HUD

commitments, it is necessary to adopt a resolution authorizing an Amended and

Restated Trust Indenture to extend the Remarketing Date and make related

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

Authority unanimously adopted the Supplemental Bond Resolution for the Victory

Crossing Project in the form attached as Exhibit ?A?.



2. Ed Sprouse reported that Kemira is requesting rezoning from M-1 to

M-2. He pointed out that the Authority does not own the property. After

discussion, the Authority requested that Kemira provide more specific

information to the Authority before it can make any recommendation. The

Authority needs to know why Kemira want to rezone and needs to review the

covenants for Columbus East Industrial Park.



NEW BUSINESS

Biff Hadden explained the background for the request from the BRAC Community

Action Group attached as Exhibit ?B?. Mike Gaymon also commented on the

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

Authority approved $25,000 from calendar year 2003 for the request from BRAC

Community Action Group to help support a study by The Wexford Group

International in preparation for BRAC 2005 and to consider another request in

2004. It was decided to invite John Mitchell to the January meeting of the

Authority to help educate the Authority on the BRAC issue.



OTHER ISSUES

Biff Hadden reported that Project Grey is considering its announcement on

December 29, 2003. Project Altitude is anticipating a mid-January 2004

announcement.



Pratt-Whitney has expanded by 100 jobs and the company has received very

positive comments on Chamber website from outside individuals.



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

made by Dick Ellisand seconded by Steve Butler and unanimously adopted, the

meeting was adjourned.



By:_____________________________

J. Edward Sprouse, Secretary



Approved by:



____________________________________

Robert M. Gilson, Jr., Chair