Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

December 5, 2001



MEMBERS PRESENT

Jim Buntin, Stephen Butler, Deborah Lane, Fernando Verdree



MEMBERS ABSENT

Bob Gilson, Frank Etheridge, Jimmy Yancey



ALSO PRESENT

Richard Bishop, Carmen Cavezza, Steve Davis, Dick Ellis, Edward Sprouse; Biff

Hadden, Becca Hardin, Bobby Ledford, Buddy Merrill, Richard Smith, Dayton

Preston, Katherine Kelly



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

December 5, 2001 meeting to order.



MINUTES

The minutes of the November 7, 2001 and November 27, 2001 meetings of the

Authority were presented. Upon motion made by Steve Butler and seconded by

Debbie Lane, both sets of Minutes were approved.



FINANCIAL REPORT

Fernando Verdree reviewed the financial report for November. He pointed out

that $600,000 had been paid on the principle of the Miller Property loan as

approved by the Authority.



ECONOMIC DEVELOPMENT UPDATE

Katherine reported on the informational program and tour of the Enterprise Zone

scheduled for local bankers and other interested groups. Dayton reported that

a local company will announce its expansion in the Enterprise Zone on December

11, 2001 and thanked everyone who worked on the project. Biff reported

assisting a prospect in receiving bids for a prospect that is looking at the 32

acres in Columbus East Industrial Park. Becca reported that a building is

being designed for the prospect considering the 19.4 acres in Corporate Ridge

Industrial Park. Dayton reported that the state will do the firebreaks on

Muscogee Technology Park and the Army will burn the land at no cost. Steve

Davis reported on a meeting scheduled for December 6th to consider a 404

application and establish a timeline to obtain necessary permits for MTP.

Dayton will make a presentation on property at a future Authority meeting.



LEGAL ISSUES

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

Authority unanimously approved the Bond Resolution in the form attached

hereto as Exhibit "A" in the amount of $16M tax exempt and $500,000 taxable

bonds for Johnston Mill Lofts and the execution of all necessary documents.

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

Authority unanimously authorized the execution of a certificate for tax

credits to the Department of Community Affairs for the Johnston Mill Lofts

project as provided in the resolution in the form attached hereto as Exhibit

"B".

2. Upon motion made by Steve Butler and seconded by Debbie Lane, the Authority

unanimously approved the Resolution in the form attached hereto as Exhibit "C"

for the issuance of Bond No. R-2 for TSYS Child Care Center II Project in the

amount of $3,978,600 and the amendment of the lease agreement and security

deed as needed.

3. Upon motion made by Steve Butler and seconded by Debbie Lane, the Authority

approved the resolution in the form attached hereto as Exhibit "D" authorizing

an intergovernmental agreement with the Consolidated Government of Columbus,

Georgia regarding the property acquired from the United States Government

4. Ed Sprouse announced that minutes of meetings should be e-mailed to the

Clerk of Council in the future.

5. The application for rezoning portion of the Miller Property has been

deferred for one month.



OTHER ISSUES

1. Jim Buntin reported that a letter has been sent to the prospect interested

in a MTP site but no response has been received.

2. It was suggested to get a formal appraisal of the site in MTP.

3. Richard Bishop reported that a roundtable is scheduled for January 8, 2002

on building codes and how to handle renovations to old downtown buildings.





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

made by Fernando Verdree and seconded by Debbie Lane, the meeting was adjourned.





By:_____________________________

J. Edward Sprouse, Secretary





Approved by:



____________________________________

James E. Buntin, Chairman