* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:01] WELCOME [1. CALL TO ORDER] EVERYONE. UH, THANKS FOR JOINING US, UH, FOR THIS DEVELOPMENT AUTHORITY MEETING. I'LL CALL THIS MEETING TO ORDER AT 6:00 PM UH, THE FIRST ITEM ON THE AGENDA IS THE ROLL CALL. UH, SO IT IS, UH, JACK, JILL, SEAN, DAVID, JOHN, AND DAN HERE, UH, WITH MORGAN BEING ABSENT. UH, SO SEAN HAD ASKED IF, UH, WE HAD ANY PICTURES, SO IF ANYBODY HAS PICTURES OF THE BABY, YOU KNOW, MAYBE THAT CAN BE SHARED LATER. UM, BUT WE DO HAVE A PURPOSE. AND OUR PURPOSE HERE [3. STATEMENT OF PURPOSE] IS, UH, OUR STATEMENT OF POWER. OUR STATEMENT OF PURPOSE IS DEVELOPMENT AUTHORITY OF ALPHARETTA, GRANTED THE POWERS AND JURISDICTION THROUGH THE STATE OF GEORGIA GENERAL ASSEMBLY, AND A RESOLUTION ADOPTED BY THE ALPHARETTA CITY COUNCIL ON SEPTEMBER 3RD, 1996. THE FUNCTION OF THE AUTHORITY IS TO PROMOTE THE PUBLIC GOOD AND GENERAL WELFARE, TRADE, COMMERCE INDUSTRY, GENERAL TAX BASE, AND THE EMPLOYMENT OPPORTUNITIES AVAILABLE IN THE CITY OF ALPHARETTA. SO, BEFORE WE GET STARTED WITH OUR BUSINESS, WE ARE OPEN FOR PUBLIC COMMENT. UH, ANYTHING? NOPE, WE HAVE NOT RECEIVED WHAT? COMMENT CARDS. ALL RIGHT. SO WITH THAT, WE CAN, UH, MOVE [5. CONSENT AGENDA] ON TO, UH, OUR CONSENT AGENDA. SO WE HAVE TWO ITEMS ON THE CONSENT AGENDA. UH, IT IS THE MINUTES FROM THE MEETING OF DECEMBER 2ND AND THE FINANCIAL MANAGEMENT REPORTS AS OF OCTOBER 31ST. UH, ANY COMMENTS, QUESTIONS? UH, DO WE HAVE A MOTION FOR THE CONSENT AGENDA? I MAKE A MOTION TO PASS, UM, BOTH ITEMS IN THE CONSENT AGENDA. OKAY. SO JILL HAS MADE A MOTION TO APPROVE AND DAN, UH, HAS SECONDED AND WE'LL CAST OUR VOTES. SO WITH THAT, WE HAVE, UM, PASSED SIX, UH, ZERO. UH, LET'S SEE. NEXT ON THE [6. ANNOUNCEMENTS & REPORTS] AGENDA, UH, ARE SOME ANNOUNCEMENT AND REPORTS. SO WE HAVE, FIRST UP IS AN UPDATE ON THE PFIZER SOLUTIONS, COBALT OFFICE PARK PARTNERS, UH, BONDS. DIANA ROMANO WILL PRE PRESENT THIS ITEM. YES, THANK YOU. GOOD EVENING. UM, I JUST WANTED TO DO A QUICK REMINDER TO MAKE SURE AND CHAIR'S DOING A GREAT JOB TO USE YOUR MICROPHONE. WE DO HAVE A NEW SOFTWARE SYSTEM FOR OUR MEETINGS DOING THE VIDEO, AND THEY WON'T KNOW WHO TO FOCUS ON FOR THEIR CAMERAS. AND YOUR, THE AUDIO WON'T BE CAPTURED AT ALL IF YOU DON'T USE YOUR MICROPHONE. SO JUST A FRIENDLY REMINDER. UM, BUT WITH THAT, YES, WE HAVE AN UPDATE ON THE FISERV, UM, COBALT OFFICE PARTNERS BONDS. UH, THE, UH, BOND TERMS HAVE EXPIRED. THIS IS A DEVELOPMENT AUTHORITY ENTERED INTO THE TAXABLE REVENUE BONDS WITH FISERV AND COBALT OFFICE PARTNERS IN 2014 TO SECURE AN ADVIL ARM TAX INCENTIVE FOR THE EXPANSION OF A MULTI-USE FACILITY IN THE CITY. UM, CONSTRUCTION AND IMPROVEMENT ON THE PROJECT WAS COMPLETED IN JULY OF 2015 WITH THE TAX COMMENCEMENT COMMENCEMENT DATE OF JANUARY 1ST, 2016. THEREFORE, THE TERMS OF THE BOND EXPIRED ON DECEMBER 31ST, 2 20 25. UM, IN ACCORDANCE WITH THE BOND AGREEMENTS, THE CHAIR AND THE SECRETARY TREASURER OF E EXECUTED ALL NECESSARY DOCUMENTS. BOND COUNSEL HAS SECURED THE DOCUMENTS FROM FIVE SERVE SOLUTIONS AND IS IN THE PROCESS OF SECURING THE FINAL DOCUMENTATION FROM COBALT OFFICE PARTNERS TO CANCEL THE BONDS, TERMINATE THE LEASE, AND TRANSFER THE PROPERTY BACK FROM THE DEVELOPMENT AUTHORITY BACK TO THE OWNER LESSEE. ADDITIONALLY, BOND COUNSEL HAS, HAS ADVISED THE FULTON COUNTY TAX ASSESSOR'S OFFICE OF THE END OF THE ABATEMENT PERIOD. SO AS OF, UM, NOW THE ABATEMENT PERIOD IS DONE AND THIS BOND IS CONCLUDED. WE DON'T ANTICIPATE ANY FURTHER ACTION BEING NEEDED BY THE AUTHORITY ON THIS MATTER. WE'VE CONCLUDED ONE. YEAH. AND IF I MAY JACK THIS, UM, YOU KNOW, THIS IS A NEW SECTION OF OUR AGENDA, UH, WHERE, UH, WE AS STAFF ARE GONNA DO, UH, UH, IT ALLOWS US TO UPDATE YOU ON ITEMS THAT MAYBE WE DIDN'T HAVE THE OPPORTUNITY TO UPDATE YOU ON IN, IN THE PAST. UH, SO WITH THINGS LIKE THIS [00:05:01] AS BONDS, UH, OR PROJECTS, AS THERE ARE UPDATES THAT WE CAN, UH, PROVIDE, WE'LL USE THIS ANNOUNCEMENTS AND REPORTS SECTION TO JUST MAKE YOU AWARE OF WHAT'S HAPPENING. UH, AS DIANA MENTIONED, THERE WAS NO ACTION NEEDED FROM THE DEVELOPMENT AUTHORITY BECAUSE ACCORDING TO THE LEASE AGREEMENTS THAT, UH, WERE APPROVED OVER 10 YEARS AGO, UH, THE TRANSFER WAS AUTOMATIC AND, UH, JUST NEEDED SOME, UH, DOCUMENTS THAT NEEDED TO BE EXECUTED BUT DIDN'T NEED ADDITIONAL, UH, AUTHORITY OR APPROVAL BY THE DEVELOPMENT AUTHORITY. AND, UH, ON THAT, I WOULD LIKE TO JUST TAKE A MOMENT, UH, 'CAUSE I KNOW MANY OF YOU PROBABLY WEREN'T ON THE DEVELOPMENT AUTHORITY BACK IN 2014, UH, BUT THIS I WOULD CONSIDER AS A PRETTY BIG, UH, A WIN, UH, AND SUCCESS STORY FOR THE DEVELOPMENT AUTHORITY. SO, IF I SERVE, UM, WAS NOT, DID NOT HAVE A LOCATION IN THE CITY, AND, UM, THEY ENDED UP RELOCATING, UH, TO ALPHARETTA, UH, AND NOT ONLY BRINGING 1600, UH, EXISTING JOBS, BUT THEN BROUGHT ANOTHER FIVE, CREATED A NEW FIVE, UH, ADDITIONAL 500. SO, UM, BY 2020 THEY HAD RAMPED UP TO OVER 2000 EMPLOYEES, WHICH THEY'RE RIGHT AROUND 2000 STILL TODAY. UH, AND INVESTED $83 MILLION INTO A BUILDING, UM, THAT NEEDED SOME RENOVATION. SO, UH, SO IT WAS A GREAT WIN, NOT ONLY BACK IN 2014, BUT, UH, CONTINUES TO PROVIDE ALPHARETTA SERVE ALPHARETTA WELL TODAY. AND SO, JUST WANTED TO PROVIDE A LITTLE BIT OF BACKGROUND AND JUST AN EXAMPLE OF HOW THIS BODY HAS SUPPORTED THE ECONOMIC DEVELOPMENT, UH, PAST. SO IT'S ALWAYS GOOD TO BE ABLE TO LOOK BACK AND, AND SEE HOW THINGS TURNED OUT. UM, IT WOULD BE NICE TOO, ON SOME OF OUR OTHER PROJECTS, AS YOU GIVE US UPDATES, IF THERE'S ANY WAY TO SEE HOW THE ORIGINAL PROJECTIONS ARE TYING OUT TO WHERE THEY ARE, SO WE CAN KIND OF HAVE WORK HARD, UM, TO SEE HOW WE'VE DONE. UH, IF, UH, YOU HAVE A PROJECT THAT PROJECTS A A $20 MILLION VALUE, ARE WE SEEING THAT $20 MILLION VALUE THAT, THAT TYPE OF THING? I, I WOULD, I FOR ONE, WOULD LOVE TO SEE HOW WE'VE DONE. ONE THING, I THINK, I LOVE HEARING ALL THE STATS OF, YOU KNOW, HOW MUCH MONEY AND, AND JOBS, BUT THE ONE THING THAT IS HARD TO CAPTURE IN THAT FIVESTAR HAS BEEN A FANTASTIC COMMUNITY PARTNER AND THEY'VE REALLY GIVEN BACK TO THE COMMUNITY, THEY'VE GOTTEN VERY INVOLVED. AND I THINK IT JUST SHOWS THE MORE KIND OF COMPANIES LIKE THAT WE CAN GET HERE, NOT ONLY FOR THE THE JOBS, BUT THE OTHER WAYS THEY GET BACK, GIVE BACK, AND IS JUST SOMETHING THAT HELPED BUILD THE WHOLE. SO CHARLIE, DIANA, GET ACTIVE. . WELL, THANK YOU FOR THAT UPDATE, DIANA. UM, LET'S SEE. NEXT ON THE AGENDA [7. NEW BUSINESS] IS THE ELECTION OF THE CHAIR, VICE CHAIR AND SECRETARY TREASURER. DIANA WILL FACILITATE THIS PROCESS. THANK YOU. YES. THIS, YOU KNOW, HAPPENS EVERY YEAR. SO IT'S THAT TIME AGAIN. UM, IN ACCORDANCE WITH OUR BYLAWS, IT IS TIME TO ELECT, UM, MEMBERS TO SERVE AS CHAIR, VICE CHAIR AND SECRETARY TREASURER. WE'LL DO THEM ONE AT A TIME. UM, SO FIRST UP, UH, DO WE HAVE A NOMINATION FOR A MEMBER TO SERVE AS THE CHAIR OF THE DEVELOPMENT AUTHORITY? A NOMINATE JACK . I SECOND. WONDERFUL. ARE THERE ANY OTHER NOMINATIONS? ALRIGHT, WE HAVE JILL, WHO'S NOMINATED JACK TO SERVE AS THE CHAIR FOR THE DEVELOPMENT AUTHORITY, AND SEAN HAS SECONDED. UM, ON NOW CALL FOR THE VOTE. PLEASE CAST YOUR VOTES. ALL RIGHT. VOTE PASSES. I SEE YOUR ARROW. MORGAN ABSTAINING. UH, JACK WILL SERVE AS CHAIR. ALRIGHT, NEXT, . NEXT, DO WE HAVE A NOMINATION FOR A MEMBER TO SERVE AS THE VICE CHAIR FOR THE DEVELOPMENT AUTHORITY? I'LL NOMINATE JILL SECOND. PERFECT. ANY OTHER NOMINATIONS? ALL RIGHT, WONDERFUL. WE HAVE, SEAN HAS A NOMINATED JILL TO SERVE AS VICE CHAIR, AND DAVID HAS SECONDED. IF YOU COULD PLEASE CAST YOUR VOTES. [00:10:10] ALL RIGHT. VOTE IS SIX ZERO WITH MORGAN, UH, MORGAN. ABSENT, UH, THAT PASSES, JILL WILL BE OUR VICE CHAIR FOR THE DEVELOPMENT AUTHORITY. ALL RIGHT. AND FINALLY, DO WE HAVE A NOMINATION, UH, FOR MEMBER TO SERVE AS THE SECRETARY TREASURER FOR THE DEVELOPMENT AUTHORITY? I'LL NOMINATE SEAN. I'LL SECOND ANY OTHER NOMINATIONS. ALL RIGHT. JACK HAS NOMINATED SEAN TO SERVE AS SECRETARY TREASURER. JILL HAS SECONDED, CAST YOUR EXCUSE. ALL RIGHT. GREAT. VOTE PASSES SIX ZERO WITH MORGAN. ABSENT, SEAN WILL SERVE AS A SECRETARY TREASURER FOR THE DEVELOPMENT AUTHORITY. THANK YOU FOR COORDINATING THAT. UH, WITH THAT, I GUESS WE CAN MOVE ON TO [8. PARTNER UPDATE] OUR PARTNER UPDATE. UH, CHARLIE'S GONNA GIVE US AN UPDATE ON WHAT'S GOING ON IN ECONOMIC DEVELOPMENT. YEAH. SO WE'RE, UH, WELL, LET ME START OFF BY THANKING EACH OF YOU FOR CONTINUING TO SERVE, UH, IN YOUR OFFICER ROLE. AND, UM, THANK YOU ALL AGAIN FOR SERVING ON THIS BODY. UM, WE'RE, UH, IN A PHASE NOW WHERE WE'RE WORKING ON A COUPLE THINGS, UH, FOR 2026. SO ON THE MARKETING FRONT, UH, WE'RE IN THE PROCESS OF PULLING TOGETHER THE FIRST EVER ECONOMIC DEVELOPMENT YEAR-END REVIEW, UH, WHICH IS ESSENTIALLY A, A COMMUNITY MARKETING PIECE. SO YOU CAN KIND OF THINK OF IT LESS ABOUT WHAT THE CITY DID AS AN ENTITY, BUT MORE OF HOW DO WE CAPTURE WHAT'S GOING ON FROM AN ECONOMIC DEVELOPMENT BROAD PERSPECTIVE. SO WE WILL BE FEATURING, THERE'LL BE SECTIONS IN THERE TO HIGHLIGHT BUSINESS INVESTMENT. SO THINK OF COMPANIES THAT HAVE EITHER RELOCATED TO ALPHARETTA OR EXPANDED HERE. UH, THERE WILL BE A SECTION ON REAL ESTATE. SO YOU THINK OF ANY NEW DEVELOPMENTS THAT HAVE EITHER GOTTEN APPROVED OR HAD SIGNIFICANT, UH, PROGRESS EITHER THROUGH INSTRUCTION OR COMPLETION, UH, TO SOME OTHER AREAS LIKE PLACEMAKING. SO THAT SECTION WILL FEATURE, UH, REALLY AROUND PARKS, TRAILS, THE THINGS THAT MAKE OUR ENVIRONMENT SPECIAL. UM, UH, THERE WILL BE A SECTION HIGHLIGHTING SOME TRANSPORTATION. 'CAUSE WE ALWAYS KNOW THAT, UH, PARTICULARLY FOR, UH, THE BROKER COMMUNITY, A LOT OF TIMES THEY, WE GET CALLS QUITE REGULARLY OF, UM, WHAT'S IN THE PIPELINE OR WHAT'S COMING NEXT AS THEY'RE WORKING WITH TENANTS, THEY'RE TRYING TO FIGURE OUT HOW CAN WE MARKET ALPHARETTA EVEN BEYOND WHAT MAY BE VISIBLE TODAY. AND SO, UH, ON THE TRANSPORTATION FRONT, OF COURSE, UM, YOU KNOW, THE BIG THINGS IS JUST MAKING PEOPLE AWARE OF THE GEORGIA HUNDRED, UH, EXPRESS LANE PROJECT. UH, AS WELL AS, UM, THE MCGINNIS FERRY ROAD INTERCHANGE THAT WILL HELP, UM, UH, WITH, YOU KNOW, MAKING ACCESS TO THE WINDWARD DISTRICT EVEN MORE, UH, ACCESSIBLE. AND THEN FEATURE A LITTLE BIT ON THE TOURISM THOUGH, WHAT, UH, WHAT IN TERMS OF DOLLARS COMING IN, JUST A KIND OF PACKAGE UP WITHIN A, A ONE YEAR SNAPSHOT OF 2025 OF WHAT, WHAT DID ACTIVITY LOOK LIKE HERE. AND, UH, SO WE SHOULD HAVE THAT READY BY THE MEETING, UH, DEVELOPMENT AUTHORITIES MEETING NEXT MONTH AND PLANT THAT, UH, THROUGH OUR WEBSITE. AND THEN ALSO DO KIND OF DIRECTLY TO COMMERCIAL BROKERS, UH, DIGITAL, MOSTLY EMAIL, UH, BUT TO BROKERS, COMMERCIAL BROKERS, AND ALSO SITE SELECTORS AS WELL. OUR ALLIES AT THE STATE, UH, AND REGIONAL LEVELS TO HELP MAKE SURE THAT WE'RE OUR COMMUNITY'S TOP OF MIND AS HOPEFULLY THEY WORK WITH PROSPECTS THROUGHOUT. SO STAY TUNED ON THAT. UM, THE, A COUPLE OTHER ITEMS THAT ON THE MARKETING FRONT, UH, THE SITE SELECTORS GUILD, WHICH IS, UH, INTERNATIONAL ASSOCIATION OF CORPORATE SITE SELECTORS. SO THESE ARE THE PROFESSIONALS THAT COMPANIES TYPICALLY HIRE TO ADVISE THEM ON WHERE TO RELOCATE OR WHERE TO EXPAND. THEY'RE ACTUALLY HOSTING THEIR SPRING CONFERENCE IN MIDTOWN. THIS, UH, SO WE WILL BE, UM, ATTENDING THAT CONFERENCE TO GO NETWORK [00:15:01] WITH THE CONSULTANTS THAT WILL BE THERE, UH, AND, AND DOING JUST A SMALL SPONSORSHIP, UH, AS WELL TO MAKE SURE OUR LOGO IS PRESENT, UH, TOP OF MIND THERE. AND THEN WE'RE ALSO, RIGHT NOW, UH, WE'VE PARTNERED WITH THE STATE OF GEORGIA. THEY'RE GONNA HAVE AN EXHIBIT AGAIN AT, UH, SELECT USA, WHICH IS A ANNUAL CONFERENCE THAT THE US DEPARTMENT OF COMMERCE PUTS ON IN DC EVERY YEAR WHERE THEY LEVERAGE THE EMBASSIES AROUND THE WORLD TO INVITE COMPANIES TO THE US TO LEARN ABOUT DOING BUSINESS HERE AND POTENTIALLY OPENING AN OP, AN OPERATION HERE. SO, UH, WE'RE PARTNERING AS ONE OF THE COMMUNITY PARTNERS WITH THE STATE TO GO WITH THEM AND PARTICIPATE IN THE PAVILION MORE TO COME THROUGHOUT THE YEAR. BUT THOSE ARE SOME OF THE THINGS THAT WE'RE KIND OF WORKING ON RIGHT NOW. AND WHEN YOU'RE TALKING ABOUT PLACEMAKING, UH, ONE OF THE THINGS THAT WE KNOW IS A GREAT PLACEMAKER IS THE ALPHA LOOP. AND, YOU KNOW, I MEAN, LIKE, I, I JUST WANT TO CONGRATULATE JOHN AND MORGAN, THOUGH. SHE'S NOT HERE FOR EVERYTHING. YOU'VE DONE A, THAT LIGHTS ON THE LOOP WAS REALLY SPECTACULAR. AND I, I THINK, YOU KNOW, IT, IT TAKE, NOT THAT WE HAD ANY BUYERS REMORSE, BUT I, I MEAN, LIKE, IT, IT WAS MONEY WELL SPENT AND, AND, YOU KNOW, CONGRATULATIONS. THANK YOU. AND JUST ONE OTHER BIT OF FEEDBACK THAT, UH, BROCHURE YOU HAD DONE THAT, YOU KNOW, YOU SHARED AT OUR LAST MEETING. I, I PUT IT OUT AT THRIVE AND THE, THE FEEDBACK WAS, I MEAN, LIKE, IT WAS, IT WAS A REALLY GOOD LOOKING BROCHURE AND WITH A LOT OF GOOD INFORMATION. THANK YOU. WELL, THAT, UM, I THINK, UH, ARE THERE ANY OTHER ITEMS OF DISCUSSION THAT WE NEED TO ADDRESS? ALRIGHT, WITH THAT THEN, [9. ESTABLISHMENT OF NEXT MEETING] UH, I THINK OUR NEXT MEETING IS SCHEDULED FOR THURSDAY, FEBRUARY 12TH AT SIX O'CLOCK. WE'LL FINALLY GET ONTO OUR SCHEDULE FOR THE YEAR. UH, AND SINCE WE HAVE NO FURTHER BUSINESS, UH, THIS MEETING IS ADJOURNED AT 18. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.