Downtown Development Authority

DOWNTOWN DEVELOPMENT AUTHORITY MINUTES Monday, March 18, 2024 Council Chambers 5:00 PM 70 S. Clayton St, GA 30046 Call to Order Chairman Merritt called the meeting to order at 5:03 pm after recognizing a quorum. PRESENT Board Member Victoria Jones Board Member Jen Young Board Member Joanie Perry Ward Board Member Katrina Fellows Board Member Chris Adams Board Member Jeremy Higginbotham Board Member Lee Merritt Approval of Agenda Motion to move Item 5 - Termination of RIO Transaction to Final Adjournment section made by Board Member Merritt, Seconded by Board Member Jones. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the agenda with the approved change made by Board Member Merritt, Seconded by Board Member Perry Ward. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Approval of Prior Meeting Minutes 1. Approval of Regular Meeting Minutes for February 12, 2024 Motion to approve the Regular Meeting Minutes for February 12, 2024 made by Board Member Perry Ward, Seconded by Board Member Higginbotham. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt 2. Approval of Executive Session Minutes for February 12, 2024 Motion to approve the Executive Session Minutes for February 12, 2024 made by Board Member Perry Ward, Seconded by Board Member Higginbotham. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Downtown Development Business 3. March 2024 Treasurer’s Report Board Member Perry Ward, the DDA Treasurer presented the March 2024 Treasurer's Report to the Board. Motion to approve the March 2024 Downtown Development Authority Treasurer Report made by Board Member Fellows, Seconded by Board Member Higginbotham. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt  4. 101 E. Crogan Street Land Purchase Agreement Motion to ratify contract as presented for 101 E. Crogan Street made by Board Member Fellows, Seconded by Board Member Higginbotham. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt 5. Termination of RIO Transaction Item moved to Final Adjournment earlier in the meeting. 6. Retail Strategies Chairman Merritt updated the Board regarding a company that might assist the Board with retail strategy. Chairman Merritt, Board Member Young, and Jasmine Billings had a phone meeting with the Retail Academy. They could assist with 5-year strategic plans (planner, consultant, and action plan), this would be a 3-year commitment, $95,000 commitment (Year 1-$45,000, Year 2-$25,000, Year 3-$25,000), and they do not recruit tenants. Board Member Jones said that the National League of Cities have retail strategy training Mainstreet Business Jasmine Billings, Economic/Community Development Director presented her Mainstreet update to the Board. Jasmine presented the Board with an art concept for window advertisement at 168 South Clayton Street to assist with advertising the upcoming Boogie Event. Motion to allow the City Events Team to use 168 South Clayton Street for window signage made by Board Member Merritt, Seconded by Board Member Adams. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt The Crogan Street Mural at McCray's Tavern is underway. The artist should be done within the next two weeks. There are plans in the works to extend the Lawrenceville Blooms mural. Facade Grants - Board Member Adams and Board Member Higginbotham have been working with Jasmine on the Facade Grant details. They are considering having the applicants present their plans to the sub-committee and the plan is for the details to remain fairly general. The grant is up to $2,500 - no more than 50% of the total facade project. Other Business No Other Business Citizen Comments No Citizen Comments Executive Session - Real Estate Motion to enter into Executive Session made by Board Member Merritt, Seconded by Board Member Young. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to exit Executive Session made by Board Member Merritt, Seconded by Board Member Young. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt 3 Real Estate Items Discussed: 2 Votes Taken Final Adjournment Chairman Merritt updated the Board regarding the Termination of Rio Transaction. All receipts that Rio Lawrenceville submitted for reimbursement for their equity in the hotel project have been received. All of the work Rio Lawrenceville performed, including plans, studies, reports, budgets, and schedules will become DDA property after this is paid. Chairman Merritt presented the Intergovernmental Agreement with the City of Lawrenceville regarding the hotel. She said there would be a transfer of funds to complete the unwind transaction. City Council has approved the Intergovernmental Agreement, it has City Manager approval, and the Chief Financial Officer and City Attorney were involved in the discussion. Motion to approve the Intergovernmental Agreement with the City of Lawrenceville regarding the hotel made by Board Member Merritt, Seconded by Board Member Jones. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Assignment of Assumption Contract for ADM made by Board Member Merritt, Seconded by Board Member Perry Ward. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Assignment of Assumption Contract for Bowman made by Board Member Merritt, Seconded by Board Member Perry Ward. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Assignment of Assumption Contract for Ponder made by Board Member Merritt, Seconded by Board Member Young. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Assignment of Assumption Contract for Sims Patrick Studio made by Board Member Merritt, Seconded by Board Member Fellows. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the General Assignment of Intangibles made by Board Member Merritt, Seconded by Board Member Adams. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Loan Termination in the amount of $2.4 Million made by Board Member Merritt, Seconded by Board Member Higginbotham. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Omnibus Unwind and Termination Agreement made by Board Member Merritt, Seconded by Board Member Adams. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Termination of Development Agreement made by Board Member Merritt, Seconded by Board Member Adams. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to approve the Termination of Ground Lease portion of hotel transaction made by Board Member Merritt, Seconded by Board Member Young. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Motion to adjourn made by Board Member Merritt, Seconded by Board Member Fellows. Voting Yea: Board Member Jones, Board Member Young, Board Member Perry Ward, Board Member Fellows, Board Member Adams, Board Member Higginbotham, Board Member Merritt Minutes Signature _________________________ Lee Merritt, Chairman _________________________ Barry Mock, Secretary