Downtown Development Authority - Finance subcommittee

TYRONE DOWNTOWN DEVELOPMENT AUTHORITY - FINANCE SUBCOMMITTEE MINUTES January 26, 2023 at 9:00 AM Billy Campbell, Chairman Brandon Perkins, Town Manager Ernie Johnson, Board Member Phillip Trocquet, Asst. Town Manager Luci McDuffie, Treasurer Ciara Willis, Secretary E. Allison Ivey Cox, Town Attorney Absent: E. Allison Ivey Cox, Town Attorney Also Present: Nathan Reese, DDA Board Member I. CALL TO ORDER II. INVOCATION III. PLEDGE OF ALLEGIANCE IV. PUBLIC COMMENTS: The first public comment period is reserved for non-agenda items. Comments are limited to three (3) minutes. Please state your name & address. Comments that require a response may not be answered during this time. The DDA or staff may respond at a later date. V. APPROVAL OF AGENDA A motion was made to approve the agenda. Motion made by Treasurer McDuffie, Seconded by Board Member Johnson. Voting Yea: Chairman Campbell. VI. APPROVAL OF MINUTES VII. PRESENTATIONS VIII. OLD BUSINESS IX. NEW BUSINESS 1. Discussion regarding DDA property assets, financing options, and RFQ process for redevelopment. - Phillip Trocquet, Community Development Mr. Trocquet discussed selection criteria requirements that could be used to draft a Request for Qualifications (RFQ) for the 935 Senoia Road property. He stated that he had reviewed different RFQ examples from other cities for direction in creating an RFQ for Downtown Development Authority - Finance subcommittee Page 1 of 3 January 26, 2023  the DDA’s project. In addition, he shared that an RFQ development project for Perry Downtown Development Authority (DDA) was an excellent example, but the DDA's proposed project would be specifically tailored for a restaurant business. Mr. Perkins suggested that a prospective restaurant tenant be an established concept and an operator with a minimum of five years of successful operations. Additionally, Mr. Perkins shared that the property could offer a full bar but would need at least 55 percent of its total sales comprised of food sales. Mr. Perkins stated that the DDA's project would require two different bid proposals. The first RFQ would be for a qualified restaurant business that would lease 935 Senoia Road. In addition, the second bid proposal would be for the property’s interior design. Mr. Trocquet shared that the City of Jonesboro had a similar economic development project where they converted the old Jonesboro Firehouse into a restaurant. Thus, members discussed visiting the City of Jonesboro for concepts while planning the DDA’s development project. Board Member Johnson asked staff if potential businesses were interested in the Town Center District (Downtown). Mr. Trocquet stated that a potential developer was interested in the property at 969 Senoia Road, but the property was still for sale. Board members emphasized that the property could further revitalize the Town Center District for citizens. Chairman Campbell inquired about funds from the Town that were usually paid to the Fayette County Development Authority (FCDA) every year. Mr. Perkins stated that he would propose a budget request from Council every year to have those funds transferred to the DDA. Additionally, Chairman Campbell discussed budget options for the upcoming “First Fridays” events. Mr. Trocquet stated that the DDA had over $10,000 available for the current fiscal year, ending in June 2023. Mr. Trocquet stated that he would finalize the RFQ by the end of February, and it would go before the entire DDA board at the March 13 meeting for approval. He also noted that the DDA Finance Subcommittee would hold one to two more meetings before releasing the RFQ to the public. In addition, the RFQ would be advertised in various ways to promote the property and obtain qualified businesses. X. PUBLIC COMMENTS XI. STAFF COMMENTS XII. BOARD COMMENTS XIII. EXECUTIVE SESSION XIV. ADJOURNMENT A motion was made to adjourn. Page 2 of 3  Motion made by Board Member Johnson. Voting Yea: Chairman Campbell, Treasurer McDuffie. The meeting adjourned at 10:30 am. By: Attest: Billy Campbell, Chairman Ciara Willis, Secretary Page 3 of 3