04-06-1993 Regular MeetingApril 6, 1993
The Downtown Smyrna Development Authority met April 6, 1993 at the
Library. The meeting was called to order at 7:00 p.m. by Chairman
A. Max Bacon.
Present: Jim Pitts Absent: Willouise Spivey
Doug Stoner Steven Shupert
Jimmy Wilson
C. J. Fouts
Hubert Black
Also present was Councilman Pete Wood, City Clerk Melinda Dameron,
City Administrator Bob Thomson, Library Director Laurel Best and Ed
Wall from Lex Jolley & Associates.
Ed Wall reported on the bond rating trip to New York and said that
the City was successful in maintaining their A+ and Al rating with
Moodys and Standard and Poors. They asked about Phase II of the
development and were assured that we would move forward with the
planning in 1994 although no decision has been made on the method
of financing. Mr. Wall said the rating companies expected to see
us back in the Spring of 1994 to discuss additional bonds. Our job
now is to develop a comprehensive plan that we can present to them,
and begin an intensive campaign to promote the next phase.
Mayor Bacon said he met recently with John Wieland about his
interest in purchasing the 4.5 acre tract behind the community
center for construction of townhomes. They discussed a possible
sales price of $9,000 per unit. There are still three appeals
pending on the condemnations with significant exposure. The DDA
also owes the City's General Fund $3.5 million, shown as a
receivable on the audit and that must be addressed in the near
future.
Jimmy Wilson said that his committee had
Hook and Chief Williams to discuss their
which begins the initial planning. They
keep the other members informed. We need
to talk about the next phase and develop
Mayor and Council sell to the citizens.
met last week with Chief
needs for the next phase
will meet again soon and
to take every opportunity
a plan that will help the
Mayor Bacon said the Masonic Lodge has apparently sold their
property on Old Concord Road and have indicated that they are
moving back into the building on W. Spring Street behind City Hall.
They have made a final offer to the City to purchase, and their
original asking price of $500,000 has been reduced to about
$270,000. We have also discussed the possibility of the Masonic
Lodge purchasing the small corner lot owned by the City, or
swapping that parcel for the parking area adjacent to the Police
Annex.
Bob Thomson reported that he would meet tomorrow with Mike Sizemore
and discuss their recommendations on use of the property between
the Village Green and Bank Street. Mike has also been asked to
prepare an estimate of the pre -planning budget so that we will have
a better idea of cost. Mr. Thomson said he would advise the
members as to the outcome of that meeting.
Mayor Bacon said the First Baptist Church has expressed an interest
in purchasing the old library building and the appraisal prepared
by Clint Buckner is in the $225,000 range. Pete Wood said the
church is interested in talking to the City about the purchase of
this property but it will probably need to be handled in a
transaction through the DDA.
With no further business, meeting adjourned at 8:52 p.m.