MINUTES OF THE MEETING OF THE
DEVELOPMENT AUTHORITY OF COLUMBUS GEORGIA
March 6, 2008
MEMBERS PRESENT
Billy Blanchard, Carmen Cavezza, Dick Ellis, Bob Gilson, Stella Shulman, Allen
Taber, Fernando Verdree
MEMBERS ABSENT: none
ALSO PRESENT
David Arrington, Shelley Dean, Mike Gaymon, Becca Hardin, Isaiah Hugley, Gary
Jones, Dayton Preston, Joe Sanders, Brian Sillitto, Ed Sprouse, Kirsten
Stevenson, Clint Taylor, 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
6, 2008 meeting to order.
MINUTES
Upon motion made by Dick Ellis and seconded by Allen Taber, the Authority
unanimously approved the minutes of the February 7, 2008 meeting hereto
attached as Exhibit ?A?.
FINANCIAL REPORT
Fernando Verdree reviewed the report noting that some adjustments have been
made as a result of the audit. Upon motion made by Allen Taber and seconded by
Dick Ellis, the Authority unanimously approved the February 2008 Financial
Report which is attached hereto as Exhibit ?B?. The consolidated audit was
distributed to the members. Members can e-mail questions to Fernando Verdree
or Bob Gilson. The audit will be on the March agenda for action.
ECONOMIC DEVELOPMENT
Becca Hardin reported that Kodak and DayJet made announcements this past
month. She reported on the status of some Kia suppliers. There has been heavy
emphasis on marketing the past month with a visit by project managers from
Georgia Power and Georgia Department of Economic Development. Brian, Shelley
and Becca attended the reception for the Georgia International Project Managers
in Atlanta. Marketing of the Goody building will begin soon. Follow up is
being done on the defense industry initiative. Preparations are under way for
marketing Greater Georgia at the SEDC Consultants Forum in Atlanta. The
written report is attached as Exhibit ?C?.
PROPERTY
Dayton Preston reported on a number of items.
The EPA has cited violations done with clearing of some MTP land. This will
have to be corrected. Upon motion made by Allen Taber and seconded by Fernando
Verdree, the Authority unanimously approved the cost of $1,000 per acre for an
anticipated 26 acres to harrow, seed, and silk fence areas in Muscogee
Technology Park.
It is expected that the controlled burning in MTP will take place next week.
The temporary signs are being fabricated. A proposal is needed on the bases.
Chattsworth Court is still private. Phase II Eastern Connector (Chattsworth
and Macon) scheduled for FY 2010. The Cessna area is being replatted. 10th
Armored Division Road will be a city street. The City is setting aside NFL
funds to provide one curb cut per company on the part of Technology Parkway
already completed to cul-de-sac A.
Upon motion made by Stella Shulman and seconded by Billy Blanchard, the
Authority unanimously approved the concept of a lease agreement subject to
working out transaction details and upon approval of the Authority Chairman and
permitting by the City with Verizon for a cell tower on Authority land to be
located on the south side of Mutec Drive in Corporate Ridge Business Park.
OLD BUSINESS
none
NEW BUSINESS
Mike Gaymon outlined the contributions of Seiko Kabumoto as Director of
International Development. Seiko is returning to Japan where he would be
willing to continue working with prospects and coordinating things for visits.
Upon motion made by Carmen Cavezza and seconded by Stella Shulman the Authority
unanimously approved a stipend of $12,000 per year with the Authority
partnering with the Chamber on direct expenses appropriate to the position.
On the Intercity trip to Tampa, participants learned about using trash as
fuel. There will be a Waster to Energy meeting at the Chamber on March 26.
LEGAL ISSUES
1. Upon motion made by Stella Shulman and seconded by Allen Taber, the
Authority unanimously approved a Bond and tax Credit Resolution in the form
attached hereto as Exhibit ?D? in the amount of $13,000,000 for the Avalon
Apartments Project and authorized the execution of all documents pertaining to
the bond issue.
2. Upon motion made by Fernando Verdree and seconded by Carmen Cavezza, the
Authority unanimously approved the Inducement Resolution in the form attached
hereto as Exhibit ?E? in the amount of $80,000,000 for the Geo. M. Adams Co.
Project and authorized the execution of all documents pertaining to the bond
issue. For information the bond amount does not include any land cost. Ed
Sprouse disclosed that firm of Page, Scrantom, Sprouse, Tucker & Ford has been
involved but that he personally has not.
3. Upon motion made by Carmen Cavezza and seconded by Allen Taber, the
Authority unanimously approved an Inducement Resolution in the form attached
hereto as Exhibit ?F? in the amount of $15,000,000 for the Jay Automotive Group
Project which consists of $9,200,000 in new monies and $5,800,000 in refunding
of the 1997 bond.
4. Ed Sprouse reported that it will be necessary to have a called meeting of
the Authority in order to set the interest rate for the Ambling Project. The
meeting will be held on March 24 at 8:00am at the Columbus Chamber of Commerce.
Ed Sprouse introduced Kirsten Stevenson of Page, Scrantom, Sprouse, Tucker &
Ford.
There being no further business, the meeting was adjourned.
By:_____________________________
Rebecca Brown Hardin, Secretary
Approved by:
____________________________________
Robert M. Gilson, Jr., Chair
Attachments
No attachments for this document.