Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

November 6, 2002



MEMBERS PRESENT

Dick Ellis, Bob Gilson, Debbie Lane, Allen Taber, Fernando Verdree, Jimmy Yancey



MEMBERS ABSENT

Steve Butler



ALSO PRESENT

Richard Bishop, Billy Blanchard, Bill Bryant, Biff Hadden, Becca Hardin, Wayne

Hodges, John Mills, Suzanne Mettier, Dayton Preston, Jodi Saunders, Ed Sprouse;

Chuck Williams, Jan Youtie, Katherine Kelly, Frank Etheridge



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

November 6, 2002 meeting to order.



MINUTES

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

unanimously approved the minutes of the October 2, 2002 meeting.



FINANCIAL REPORT

Fernando Verdree reviewed the report for October 2002 which is attached hereto

as Exhibit ?A?. The first payment of Millage rate from the City has been

received. The Kodak Polychrome Graphics REBA grant has not been received yet.

Biff reported that all requirements have been met and we are waiting for check

to be received. He also indicated that a copy of the deed to the property may

need to be sent. Upon motion made by Allen Taber and seconded by Debbie Lane,

the Authority unanimously approved the October 2002 Financial Report.



ED UPDATE

Mike Gaymon reported that there are 33 active projects with several at a final

stage. Recently staff received 3 requests for proposals. Dayton has been

visiting the Valley Partnership members. He reported on the Georgia Tech &

GDIT&T visit to Ireland and Germany. Georgia is paired with Cork, Ireland in

the IT area. Mike Gaymon, Bob Gilson and Becca Hardin also visited Bayer and

one prospect while in Germany. We are taking steps to change from textile to

technology.



PROPERTIES

1. Becca introduced Bill Bryant from Georgia Power. He made a presentation

about items the Authority needs to consider in its economic development

efforts. He reported that Georgia Power is willing to help the Authority to

find more land. If the Authority is interested in pursuing that offer, it

should contact Buddy Merrill.

2. Dayton reported on an e-mail received from Brown Trucking updating the

status of this project. Ed Sprouse explained the situation with the project.

Upon motion made by Jimmy Yancey with a second by Dick Ellis, the Authority

unanimously approved the resolution in the form attached hereto as ?Exhibit B?

to sell the 32.4 acres in Columbus East Industrial Park for $100,000 subject to

(a) the Authority retaining the right to repurchase the land at that price if

company has not commenced construction of its facilities within 36 months from

the date of the closing of the sale and (b) with the restriction that the land

can not be used for parking tractor trailers unless properly screened.

3. The Annual CRIP Association meeting was held on November 5. All reports

were positive.



NEW BUSINESS

1. Litho-Krome Request ? The company has engineered its site in MTP with the

impression that the water line will be run to the end of the cul de sac.

Dayton reported that the cost to run a 10? line the 900 feet with two hydrants

would be $20,000 at present. The cost would increase another $12,000 after two

driveways are put in. Upon motion made by Jimmy Yancey with a second by

Fernando Verdree, the Authority agreed to have the water line run to the end of

the cul de sac and to approach the Columbus Water Works to negotiate sharing

the cost.



LEGAL ISSUES

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

Authority unanimously approved Bond Resolution in the form attached hereto as

Exhibit "C" to the amount of $7,200,000 for the McCauley Propellers/Cessna

Project to relocate McCauley Propellers.

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

unanimously approved amending the Inducement Resolution in the form attached

hereto as Exhibit ?D? in the amount of $13,270,000 for the Four JS Family, LLLP

Projects (acquition of Wyndham Hotel, expansion of Victory Drive Econo Lodge

and another facility at the intersection of Miller and Milgen Roads).

3. Upon motion made by Jimmy Yancey and seconded by Fernando Verdree, the

Authority unanimously approved the Inducement Resolution in the form attached

hereto as Exhibit ?E? in the amount of $ 6,100,000 for the Ironwood Development

Project on N Lumpkin Road.

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

unanimously approved the conveyance of a portion of the land owned by the

Authority for the PACE Project to the City of Columbus in order to widen

Chattsworth Road.



OTHER ISSUES:

Suresh Gopalan made a presentation on the development of a model for the

Cluster Industries using the airplane parts manufacturing as an example.



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

made by Jimmy Yancey and seconded by Dick Ellis and unanimously adopted, the

meeting was adjourned.





By:_____________________________

J. Edward Sprouse, Secretary

Approved by:



____________________________________

Robert M. Gilson, Jr., Chair