Columbus, Georgia

MINUTES OF THE MEETING OF THE

DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA

March 4, 2004



MEMBERS PRESENT

Steve Butler, Bob Gilson, Stella Shulman,Allen Taber,Fernando Verdree



MEMBERS ABSENT

Dick Ellis, Jimmy Yancey



ALSO PRESENT

Odessa Archibald, Richard Bishop, Billy Blanchard, Mike Gaymon, Becca Hardin,

Biff Hadden, Jack Key, Alicia Laramy, Buddy Merrill, Bob Poydasheff, Dayton

Preston, Joe Sanders, Ed Sprouse, Janeen Tucker, 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 March

4, 2004 meeting to order.



MINUTES

Upon motion made by Stella Shulman and seconded by Fernando Verdree, the

Authority unanimously approved the minutes of theFebruary 5, 2004meeting hereto

attached as Exhibit ?A?.



FINANCIAL REPORT

1. Fernando Verdree reviewed the financial report for February 2004.

He reported that the Authority has paid $900,000 on the Miller Property loan

principal thus reducing the principal to $900,000. Upon motion made by Allen

Taber and seconded by Stella Shulman, the Authority unanimously approved the

February 2004 Financial Report which is attached hereto as Exhibit ?B?.



ECONOMIC DEVELOPMENT UPDATE ? Becca Hardin reviewed status of current

projects. Her report is attached as Exhibit ?C?. Four prospect visits and 12

suspects have been received after the presentation to our state partners

(GDIT&T, GPC, MEAG). Groundbreaking for CIS was held on February 11th. Mayor

Poydasheff reported that Becca and Billy Blanchard did a great job on the

presentation to City Council. Becca passed around the latest issue of Site

Selection which contained the ad for MTP in conjunction with article on H&K.

Richard Bishop reported on a meeting with GA DOT which included discussion on

the Eastern Connector and the loop road in Fall Line Business Centr?. Sam

Wellborn is going to set up another meeting. Becca reported that the contact

with Rockefeller Group as consultants with FTZ has been signed for a fee of

$15,000.



Biff Hadden presented a video on Ft Benning which has been made for BRAC. He

reported that one possible new mission involves the Air Force.



OLD BUSINESS

none

NEW BUSINESS

none



LEGAL ISSUES

1. Ed Sprouse reported that the Columbus Cabinet Company 1986 Bond

Issue had terminated and paid in full and that the Authority needed to reconvey

the project to the company. Upon motion then made by Steve Butler and seconded

by Stella Shulman, the Authority unanimously approved the execution of the Bill

of Sale from the Authority to the company and the termination of the Lease and

Trust Indenture.

2. Ed Sprouse reported that the amended application for rezoning the

175-acres tract and the application for re-zoning the remaining portion of Fall

Line Business Centr? to M-1 has been filed. The Authority was informed that

comes before the City Planning Advisory Commission on March 17th.



PROPERTY

Dayton Preston showed the Authority a map if the 5 shovel-ready sites in MTP

which have been authorized by the Authority. Lot 2 is the site for the spec

building. The RFP which will be sent to contractors that are Columbus Chamber

of Commerce members is being reviewed. Upon motion made by Fernando Verdree

and seconded by Stella Shulman, the Authority unanimously approved receiving

bids for a 108,000 sf speculative building with 3,200 sf office space to be

constructed on Parcel 2 of Muscogee Technology Park at no cost to the Authority

for construction. (NOTE: This motion clarifies the exact sf requirement since

the original motion passed on February 5, 2004 was for 100,000 sf building.)



OTHER ISSUES

none



There being no further business to come before the Authority, the chairman

adjourned the meeting.



By:_____________________________

J. Edward Sprouse, Secretary



Approved by:



____________________________________

Robert M. Gilson, Jr., Chair