Board of Directors Meeting Minutes DRAFT. The Development Authority of the City of Milledgeville and Baldwin County

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1 Chat Daniel Chair Ed Walker Vice-Chair Karen Rowell Secretary Henry Pope Treasurer Jean Aycock Cheryl Crumbley Merlin Fechner Quay Fuller Greg Tyson George Carpenter, Jr. Counsel Matt Poyner Executive Director Board of Directors Meeting Minutes DRAFT The Development Authority of the City of Milledgeville and Baldwin County Date of Meeting: September 28, 2015 Members Present: Members Absent: Staff: Others: Cheryl Crumbley, Chat Daniel, Henry Pope, Karen Rowell, Greg Tyson, Ed Walker Jean Aycock, Merlin Fechner, Quay Fuller Matt Poyner, Amy Davis Greg Barnes, George Carpenter, Steve Chambers, Henry Craig, Billy Hobbs, Johnny Westmoreland. With a quorum present at the meeting, the Chair Chat Daniel called to order the called board meeting of the Development Authority of the City of Milledgeville and Baldwin County at 12:32 p.m. on September 30, 2015 at the Economic Development Center. I. Minutes Minutes from the prior board meeting held August 24, 2015 were reviewed by the board. There were no questions or comments raised by board members. A motion was made by Cheryl Crumbley, 2 nd by Greg Tyson to approve the minutes. The board voted in favor of approving the minutes as submitted. II. Financial Report Treasurer Henry Pope gave the financial status report as of September 28, (Copy Attached) Mr. Pope brought to the board s attention the loan on the spec building matures in October. Greg Tyson asked Mr. Pope from what funds the spec building loan payments are Page 1 of 5

2 made. Mr. Pope disclosed funds received from the City and the County were deposited into the general fund from which the amount deposited was then debited for payment on the Spec Building loan account. Regarding the upcoming Spec Building loan maturity, Mr. Pope reports he has written a letter, as the lead bank, to modify the loan to extend the maturity date an additional 24 months. (Letter & Loan Modification Agreement attached) Changes are contingent upon approval by all participating banks as listed. New intergovernmental agreements will need to be executed by both the City of Milledgeville and Baldwin County. Henry Pope is formally requesting the DAMBC Board agree to an extension of the spec building loan by an additional 24 months, making the new maturity date October 30, A motion was made by Cheryl Crumbley, 2 nd by Karen Rowell to approve an extension of the loan as requested. The Board voted unanimous in favor and motion carried. Chairman Daniel requested for Mr. Pope to get interest rates from Exchange Bank on borrowing $4MM for the purpose of reporting closest approximate figures to the City and County. Mr. Pope asked Exec. Dir. Poyner whether the loan will be secured by the property acquired by the DAMBC. Chairman Daniel stated it would be secured by the purchased property with agreement by the banks about needed flexibility for release of the property to facilitate new industry prospects. Steve Chambers is additionally requesting approximate financial figures on the balance due on the Spec Building loan at the end of the new 24 month term. Henry Pope will submit the requested financial figures for availability to Mr. Poyner. Chairman Daniel called for a motion to approve the financial report, motion made by Greg Tyson, 2 nd by Ed Walker. The Board voted unanimous in favor, motion passed, to approve and file financials as presented. III. Executive Director Report Mr. Poyner gave the following report for September Existing Industry: Manufacturing Council to meet in October. Mr. Greg Tyson will assist with this program. Continue to work with existing industry to find cost savings solutions. Industrial Park: A local company would like to move into an existing facility located at 135 Britt Waters Road. The company is growing its business thus the need for more space. Single Source does 99% of its business as a wholesale distribution company throughout the region. They would have approximately 10 eighteen wheeler delivery trucks a month to the warehouse and a daily truck route delivering products to its customer base. Updated GRAD Certified Map is available. (Please see attached) No Trespassing signs in Park have been ordered and City s Public Works Department will be installing them in strategic locations throughout Park. Update from Thomas & Hutton regarding capital improvements within the Industrial Park. Page 2 of 5

3 o Landscape Enhancements within SR22 median: Revised landscape plans addressing GDOT comments have been resubmitted. Approval should occur by end of September. o New signage: The low bid of $65,000 was accepted from local contractor Van Elder. All local companies will have a part of work to do on the signage from construction to landscaping to electrical work and brick work. Thanks to the City of Milledgeville Public Works Department for handling the demolition and removal of the sign. o Entrance Drive: GDOT has requested a letter from local government stating that the Authority is a governmental entity as GDOT does not feel that we are. Once this letter is received we expect the plans to be approved for bid. o Industrial Park Drive connector: Plans being created. o Bidding of all work: TBD Fall Line Regional Development Authority (FLRDA): September meeting was cancelled due to a lack of agenda. Next meeting to be held October 12 in Milledgeville. Projects / Recruitment: PROJECTS/RECRUITMENT (Tax Abatement Categories) CLASS JOBS INVESTMENT ACTIVE PROJECTS AERO MFG FOOD S.S. WARE I Min. $10MM II $10MM - $100MM III $100MM The City of Milledgeville has provided mechanical equipment to the Development Authority to assist with recruiting a new industry to the community. An MOU was created so that if said company does not operate in the facility for five years, the equipment will be returned back to the City of Milledgeville. (Please see attached) Retail: N/A Continuing Education: N/A Economic Roundtable: Not enough participation due to other meetings being held in the community. Next meeting to be held October 22, Page 3 of 5

4 Website Update: Google Analytics (Please see attached) Mr. Poyner and Mrs. Davis have been collaborating with Goebel Media to redesign and update the DAMBC website. The goal for launch of the new design is the 1 st of November. Other: Received a Thank You note from long time Authority employee Ms. Annette Ford on the flowers given for the funeral of her husband Joe who passed away in August. Been asked to serve on the University of Georgia s Carl Vinson Institute Advisory Committee for economic development professionals. First meeting will be held in Athens on September 25 th. The Flannery O Connor-Andalusia Foundation in which the Authority will be the fiscal conduit and the Oconee River Greenway both received development funds from the GDEcD on September 2 nd. Accounting fees from Lee & Turner have risen $5 per month. (Please see attached) Annual budget has been delivered to County for approval in December. Amy Davis designed a full page, infographic ad that recently ran in Economic Development special of the Union Recorder. Upcoming Events: October 8 MGRC Annual meeting (Macon, GA) October 10 ORHF Monte Carlo gala ball October 19 GEDA (Atlanta, GA) October Deep Roots IV. New Business Industrial Park Executive Director Poyner reports a local company would like to relocate into the Industrial Park on Britt Waters Drive. Mr. Poyner is requesting the Board approve their location in the industrial park since the company will be adhering to existing covenants. The company is a warehousing and distribution company and has extremely minimal retail traffic. A motion was made by Henry Pope, 2 nd by Cheryl Crumbley to approve the new company s location in the Industrial Park. The Board voted unanimous in favor, motion carried. V. Old Business MOU Shaw Mechanical Equipment Mr. Poyner gave an update on the MOU for the transfer of two (2) electrical panels to the DAMBC to aide in efforts to locate an industrial prospect within the community. The value of the panels has been revised with a total value assessed of $58, The community jobs goals and community investment goals in the Community Goals Table has also been revised. Poyner reports the current community investment goal has already been met. Mr. Page 4 of 5

5 Poyner requests approval from the Board to accept the equipment from the City and pass through to the company. A motion was made by Ed Walker, 2 nd by Cheryl Crumbley for the DAMBC to accept the mechanical equipment and pass through to the new company with the restrictions and claw backs as outlined by the MOU. The Board voted in favor and the motion carried. VI. Executive Session A motion was made by Henry Pope, 2 nd by Cheryl Crumbley to move to executive session. Executive session was entered at 1:04 pm, as permitted by O.C.G.A (b)(1)(D):... [m]eetings when any agency is discussing or voting to... [e]nter into a contract to purchase, dispose of, or lease property... A motion was made by Cheryl Crumbley, 2 nd by Karen Rowell and Greg Tyson to close the executive session and resume the open session of the board meeting, motion passed. The open session was resumed at approximately 1:34 p.m. Mr. Chat Daniel opened the floor for discussion in open session. There was no action in executive session requiring vote by the Board. Adjourn There being no further business, Chairman Daniel adjourned the meeting. Submitted by Amy E. Clark-Davis