Columbus, Georgia

Minutes



COUNCIL BRIEFING



Meeting

March 30, 2004



Members Present: Councilors R. Gary Allen, Wayne Anthony, Glenn Davis, Berry

Henderson, Julius Hunter, Jr. (arrived 8:13 a.m.), Charles E. McDaniel, Jr.,

Evelyn Turner Pugh (arrived 8:43 a.m.) and Nathan Suber. Also present were

Mayor Robert S. Poydasheff, City Manager Carmen Cavezza, City Attorney Clifton

Fay, Finance Director Angela Cole, Special Enforcement Division Chief Drale

Short, Clerk of Council Tiny Washington and Deputy Clerk of Council Sandra

Davis.



Members Absent: Mayor Pro Tem John J. Rodgers and Councilor Evelyn Woodson

were absent.



Guest: Mr. Gary Hall and Mr. Henry Swift.

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The meeting was called to order at 8:10 a.m. in the Council Chambers Conference

Room, Plaza Level of the Government Center.



Employees? Pension Fund:

City Manager Cavezza pointed out that Mr. Henry Swift is present to provide an

overview of the different aspects of the pension fund; Mayor Poydasheff had

suggested the update.



Mr. Henry Swift, came forward to review the pension fund. He began by

providing a brief chronology of history regarding the pension fund. He briefly

explained that today, there are ten different managers running the pension

fund. He said that three of those managers are responsible for managing fixed

income only and seven manage equities. He then made reference to a twenty-four

page document, which governs how the pension fund is operated. As far as

trying to control the risks, he maintained that we mandated the managers to

only use the highest quality, largest capitalization stocks with the same

holding true for bonds. He briefly explained other risks limitations that are

used by having a certain number of stocks in the portfolio but certain limits

cannot be exceeded, as well as diversification and ten different managers. He

added that there is a professional group of trustees that sit on the Pension

Board, and there jobs are to determine the asset that we have between stocks

and bonds, evaluate the performance of managers, set actuarial conditions, etc.



He continued by saying that we have ten managers who manage $166 million. He

briefly explained the review process that is conducted on the managers each

month on an informal basis and every quarter on a formal basis. Regarding the

pension fund, Mr. Swift advised that since June of 1993 the City?s pension fund

has grown at a rate of 90% per year, which is equal to the benchmark that we

have set for the fund over a period of time. He then provided a breakdown of

the representatives that serve on the City?s Pension Fund Board.



In response to comments made by Councilor Suber, Mr. Swift made remarks

regarding the years of 2000 - 2003, when the stock market was down in double

digits, which set the fund back. He contended that in 2003, we did make some

of that back. He added that the one thing that helped us during that time was

that we had 55% of the funds in fixed income.



At this time, Mr. Swift and Mayor Poydasheff responded to various questions

from the members of Council regarding fixed incomes and the managers? authority

to purchase stocks.



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Brighton at the Park Apartments:

Listed on the City Manager?s Agenda is a resolution of support for apartments

in the vicinity of Flat Rock Park that was pulled from the March 9, 2004

agenda. City Manager Cavezza reported that we had a public meeting. Providing

some brief information on the property, City Manager Cavezza advised that this

property is in the vicinity of Flat Rock Park. He explained that in the

1980?s, it was zoned R-4 and remains that way. He emphasized that the zoning

for this particular project is compatible, but the issue is that the developer,

Paul LLC, would be applying for a grant so that they get low-income housing.

Listed on today?s agenda for the Council?s approval, is a resolution of support

to go with his packet as he applies for these tax credits as determined by City

Manager Cavezza. He maintained that the Development Authority has approved the

resolution for 50% tax abatement for twenty years. He then briefly mentioned

the number of residents that were present at the public meeting and called upon

Mr. Gary Hall to respond to any further questions from the member of Council.



Mr. Gary Hall, pointed out that he has been working on this project for about

two years. He specified the letters he has received showing acknowledgement of

adequate utilities and zoning for this project. He emphasized that he does not

have to ask for permission but has done it this way on purpose. He recalled

that the Council has repeatedly approved this type of resolution over the years

and never turned one down. In compliance with the desires of the

administration, he mentioned that he met with the residents in a public

meeting.



What Mr. Hall has considered to be misinformation, He called to the attention

of the members of Council. He said this is not subsidized housing. He then

highlighted some of the issues that were brought up at the public meeting and

addressed the concerns of each and are listed as follows: school overcrowding,

traffic, blasting, bringing unwanted people from the south side to the north

side of Columbus and increase in crime. According to the salary range or

income level, Mr. Hall pointed out that police officers, school teachers and

fire fighters would be eligible to live in his housing development.



Councilor Davis expressed his concerns in not having any project plans

available or having any prior knowledge about this development; until about two

weeks ago. He also expressed his disbelief that the problem is just the issue

of dealing with low-income people but are a lot of other factors involved. In

response to prior knowledge of the project, Mr. Hall explained that he met with

City Manager Cavezza about a month ago and provided brochures to be circulated

to the Council. Recalling one other concern, Mr. Hall then pointed out that

the environmental issues have been studied by professionals and have passed the

test; there are no environmental issues.



In response to a remark made by Mayor Poydasheff, Mr. Hall reiterated his

comments that he does not have to have a resolution of support from Council,

but it does make his package look better and gives him an advantage. He

recalled that every project that has been done in Columbus over the last few

years had that letter and he does not want to be different than the others that

did have the letter of support.



Councilor Henderson commended Mr. Hall for setting up the public meeting with

the residents last night, but expressed the sentiments of the residents, he

contended that they do not want any apartments out there, because of the higher

density.



Councilor Allen gave a brief overview of the events that occurred during the

public meeting that was held on March 29, 2004. He then reiterated some of the

comments that he has received from the residents, which they explained to him

the reasons for moving to this area. He also mentioned their concerns, which

are the infrastructure and the dire need of repair of Warm Springs Road.



In conclusion, several members of Council expressed their views regarding this

proposed project, as well as, Councilor Allen making final comments regarding

the lack of information provided at the public meeting. Mr. Hall did briefly

respond to some of the remarks that were made around the table.



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Meeting adjourned at 8:58 a.m.





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Sandra T. Davis, Deputy Clerk of Council