Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

January 16, 2002



MEMBERS PRESENT

Jim Buntin, Bob Gilson, Frank Etheridge, Fernando Verdree



MEMBERS ABSENT

Stephen Butler, Deborah Lane, Jimmy Yancey



ALSO PRESENT

Richard Bishop, Billy Blanchard, Carmen Cavezza, Dick Ellis, Mike Gaymon, Biff

Hadden, Becca Hardin, Buddy Merrill, Dayton Preston, Jodi Saunders, Edward

Sprouse; Bob Tant, Chuck Williams, 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

January 16, 2002 meeting to order.



MINUTES

The minutes of the December 5, 2001 meeting of the Authority were presented.

Upon motion made by Fernando Verdree and seconded by Bob Gilson, the Minutes of

the December 5, 2001 Authority meeting were unanimously approved.



Biff Hadden reported on a prospect which is interested in part of the 32-acres

site in Columbus East Industrial Park for construction of a 130,000 sq ft

facility. The company would like for CEDC to build the building and then lease

it to company. Discussion took place on various issues ? rental rates, lease

options, etc. Biff will schedule a meeting or conference call with the

prospect to discuss the matter further. The consensus of the CEDC members who

were present was to support this proposal.



FINANCIAL REPORT

Fernando Verdree reviewed the financial report for December attached hereto.

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

unanimously approved the December 2001 Financial Report.



ECONOMIC DEVELOPMENT UPDATE

Michael Gaymon reported that the announcements made in 2001 totaled 1247 jobs

and $429M in capital investment in the region. On January 15, 2002, Bayer

announced that it has bought Ruco Polymer and is using a Quick Start Training

Program. The company will have a capital investment of $3.5M in new reactors.

There is the possibility of several announcements in the near future. The

project interested in the 19-acre site in Corporate Ridge is still active. The

staff is assisting the City with prospects interested in buying the Hilton

Hotel; and working with Marubeni Denim and Swift Spinning. There is a project

interested MTP site. There are 6-7 projects which are very active.



PROPERTIES

Dayton Preston reported that one of the CEIP signs is on the DOT right of way.

He will investigate possible solutions. Dayton and Richard Bishop will work on

putting some land in a mitigation bank, probably about 10.5 acres. This needs

to be a priority so that land development will not be delayed as a result of

wetlands.



The Authority members have a final draft copy of the Tree Ordinance in the

packet. Biff Hadden explained some areas which need to be studied. Discussion

took place about the effect this would have on economic development both with

new companies and with companies which consider at least a 50% expansion. Some

issues have been addressed since this draft. Discussions with various groups

and public hearings will take place.



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 ?A? supporting the transfer of property for the Youth Detention Center

from Columbus, Georgia to the State of Georgia.

2. Upon motion made by Frank Etheridge and seconded by Fernando Verdree, the

Authority unanimously approved the Resolution in the form attached hereto as

Exhibit ?B? authorizing the execution of all documents needed to subordinate

the 2001 Russell Project Bond Issue to its new bank financing.

3. Ed Sprouse commented on the consultation recently concluded with Native

Americans on the issue of human remains found on MTP or surrounding property.

Procedures to follow if human remains are discovered are being set forth now

so that future consultation on that subject will not be necessary.

4. Ed Sprouse reported that at 10:00a.m. this morning the Planning Advisory

Commission will be considering the Authority?s application for rezoning the

remaining 245 acres of the Miller Property. The rezoning of the 245 acres

will require some modifications to the conditions regarding the acres

previously rezoned M-1.



Mike Gaymon asked the Authority to support the Army South Com Headquarters

moving to Columbus. The timetable for a decision is about 60 days. The

Authority agreed that a letter supporting the move of Army South to Columbus be

sent from Jim Buntin. The Georgia legislators are also supporting this move.

Discussions have included Phenix City officials and Alabama legislators.



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

made by Fernando Verdree and seconded by Bob Gilson, the meeting was adjourned.





By:_____________________________

J. Edward Sprouse, Secretary





Approved by:



____________________________________

James E. Buntin, Chairman