Exhibit A
MINUTES OF THE MEETING OF THE
DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA
July 6, 2006
MEMBERS PRESENT
Billy Blanchard, Bob Gilson, Stella Shulman, Allen Taber, Fernando Verdree
MEMBERS ABSENT
Carmen Cavezza, Dick Ellis
ALSO PRESENT
David Arrington, Mike Gaymon, Becca Hardin, Gary Jones, Seiko Kabumoto, Dayton
Preston, Joe Sanders, Brian Sillitto, Ed Sprouse,
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 July
6, 2006 meeting to order.
MINUTES
Upon motion made by Stella Shulman and seconded by Billy Blanchard, the
Authority unanimously approved the minutes of the June 1, 2006 meeting hereto
attached as Exhibit ?A?.
FINANCIAL REPORT
It was pointed out that the line item for bond administrative fees was a
negative number. Gena Stone will be asked to check on this line item. Upon
motion made by Allen Taber and seconded by Billy Blanchard, the Authority
unanimously approved the June 2006 Financial Report which is attached hereto as
Exhibit ?B?.
LEGAL ISSUES
Upon motion made by Fernando Verdree and seconded by Stella Shulman, the
Authority unanimously approved effective immediately the amendment to the
Administrative Fee Structure and Policies for Industrial Development Revenue
Bonds which is attached as Exhibit ?D? to insert a new item 5 to read ?In all
IRB financing, the Authority is a conduit issuer only, and the selection of the
bank, lender, and/or bond purchaser and the terms of the financing are the
responsibility of the Company?.
ECONOMIC DEVELOPMENT UPDATE ? Covan has closed on the purchase of the Warr spec
Building. Dennis Fantis, Billy Blanchard, and Dayton Preston received the ?big
check? from Governor Perdue for the Road America OneGeorgia Grant. The ribbon
cutting for Road America is planned for October 18th. The company is leasing
office space in Cross County Plaza with over 200 employees. A local company is
looking at building a new facility on Lot 10 in MTP. Preliminary negotiations
are underway with a Kia supplier for Lot 13 in MTP. Mike Gaymon, Becca Hardin
and Seiko Kabumoto gave an overview of the trip to Asia. It was announced that
Richard Anthony has been elected to serve on the Georgia Department of Economic
Development Board.
PROPERTY
Dayton Preston reported that PACE building will be vacated by September 1, 2006
and the Authority will have possession of it. The current lot will be divided
into about 23 acres with the building and the remaining 15 acres behind the
building are being shown to a prospect. The PACE building is being marketed at
present. Some more of the lots in MTP need to be cleared a little and
light-grated (not clear cut) to show better.
OLD BUSINESS
The subcommittee has met again and has received a proposal from a consultant.
This will be presented at a later date.
NEW BUSINESS
Upon motion made by Fernando Verdree and seconded by Allen Taber and
unanimously adopted, the Authority was called into Executive Session with only
members present to discuss litigation matters.
The Authority was called out of Executive Session with no actions to be
reported.
There being no further business, the meeting was adjourned.
By:_____________________________
J. Edward Sprouse, Secretary
Approved by:
____________________________________
Robert M. Gilson, Jr., Chair
Attachments
No attachments for this document.