HAVE ENOUGH FOR A QUORUM, SO THAT'S GOOD. ALL RIGHT.
[00:00:03]
I'M GOING TO CALL THE MEETING TO ORDER FOR THE CHAMBLEE DOWNTOWN DEVELOPMENT AUTHORITY, MAY 26TH, 2026.[1. Call to Order]
DO A QUICK ROLL CALL. MIKE ESCOBAR? PRESENT. JONATHAN SMITH.NO. SETH WATSON. BRIAN RAY? HERE. JENNA DUNHAM.
NOT HERE. NOT FEELING WELL. COUNCILMAN JOHN MESA? PRESENT. ALL RIGHT. IN CONTINUATION WITH MEMORIAL DAY, LET US TURN AROUND AND PLEDGE.
ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL.
[2. Approval of Minutes]
ALRIGHT. FIRST ORDER OF BUSINESS. EVERYBODY HAVE A CHANCE TO READ THE MINUTES FROM OUR LAST MEETING.ANY QUESTIONS? ANY DISCUSSION ON THAT? IF I GET A MOTION TO APPROVE THE.
MOTION TO APPROVE THE MINUTES FOR THE DOWNTOWN DEVELOPMENT AUTHORITY REGULAR MEETING ON APRIL 28TH, 2026. SECOND. ALL THOSE IN FAVOR? AND THAT IS UNANIMOUS.
THANK YOU. CHAIR'S REPORT. ONLY COUPLE QUICK THINGS.
[3. Chair's Report]
SO THE PEACHTREE STATION, AS YOU KNOW, THE WE FINALLY CLOSED THE BOND ON MAY 7TH, AND WE TOOK IN THE FLIP YEAR CHECK OF $236,000. SO THAT'S NOW IN OUR BANK ACCOUNT, WHICH IS GREAT.THAT WAS THE FLIP YEAR PAYMENT. WHAT'S INTERESTING IS THE PEACHTREE STATION HAD TURNED RIGHT AROUND AND JUST GOT SOLD, AND I THINK JLL REPRESENTED THEM ON THAT. AND I THINK IT'S A GROUP OUT OF THE NORTHEAST.
SO THEY GOT CLEAR OF THE BOND AND THEN TURNED AROUND AND UNLOADED IT.
AND I'M NOT SURE IF THAT'S GOOD OR BAD, SO. YOU THINK IT'S NORMAL? KIND OF NORMAL. I THINK THEY WANTED TO CLEAR THE BOMB BECAUSE THEY WANTED TO GET SOLD.
YEAH, GET THE MONEY FOR IT. SO AND THE, AND I BELIEVE THE, THEY PAID THE BUYER PURCHASED IT FOR 55 MILLION. SO WHICH IS LESS THAN WHAT THE.
WELL, THAT'S WHAT I THOUGHT, TOO. I THOUGHT THE ASSESSED VALUE WAS HIGHER.
I MEAN, BUT THEY BOUGHT IT WHEN RETAIL WAS DOING VERY WELL.
AND IN 2010 OR 2020 EVERYTHING CHANGED. SO. WELL, I DON'T THINK THERE'S ANY OPEN SPOTS OVER THERE RIGHT NOW, BUT.
WELL, STILL. WELL, EVERY TIME I GO OVER THERE IT'S HARD TO FIND A PARKING SPOT.
SO I'M HAPPY THAT THE BUSINESSES THAT ARE THERE ARE DOING WELL, SO.
I'VE TAKEN THEM 2 OR 3 TIMES NOW. YOU KNOW, WE ONLY HAVE TO TAKE THEM ONCE TO BE A MEMBER OF THE DDA, BUT THERE'S ALWAYS CHANGES IN THE LAWS AND TRENDS IN THE INDUSTRY AND WHATNOT, AND I FIND THEM VERY INTERESTING.
SO THE NEXT ONE IS JUNE 24TH AND 25TH. THAT'S A WEDNESDAY AND A THURSDAY.
OKAY. SO IF YOU HAVEN'T TAKEN ONE FOR THIS YEAR THEN THE 24TH AND 25TH, I KNOW IT'S THE MIDDLE OF SUMMER AND ALL YOU GUYS HAVE DAY JOBS BECAUSE IT'S AN 8 A.M.
TO 12:30 CLASS ON A WEDNESDAY AND A THURSDAY, BUT THERE.
IS THAT THE ONE IN SAVANNAH OR IS THAT ONLINE? NO, IT'S ONLINE.
AND DAN MCRAE PULLS IN SOME GREAT GUEST SPEAKERS.
SOME OF THEM ARE FROM GEORGIA TECH. THE ONE GUY MEEKS.
AND ALFIE MEEKS IS WHO DOES OUR FISCAL IMPACT ANALYSIS.
OKAY GREAT. SO HE'S INTIMATELY KNOWS CHAMBLEE.
OH RIGHT, RIGHT. ALFIE MEEKS IS ALSO A GEORGIA TECH AND HE DOES THE ACTUAL ANALYZES.
FIND ALL THE PRESENTERS. SO IT'S YOU KNOW, TWO, FOUR HOUR DAYS.
AND THEY USUALLY HAVE, I THINK ONE PRESENTER AN HOUR.
SO IT'S LIKE EIGHT DIFFERENT PRESENTERS. AND LIKE I SAID, I THINK THERE'S ONE A YEAR AGO ABOUT DATA CENTERS OUT IN WAY EAST OF TOWN AND IT WAS THE WHOLE SITUATION ON HOW THAT CAME TO BE.
[00:05:02]
AND THEN NOW THEY'RE HAVING PROBLEMS WITH IT.IT WAS REALLY INTERESTING. KIND OF A GOOD CAUTIONARY TALE, A TALE FOR PEOPLE WHO ARE INTERESTED IN DEVELOPING AND BRINGING IN DATA CENTERS INTO THEIR COMMUNITY. SO ANYHOW, THAT SIDEBAR CLASS IS JUNE 24TH AND 25TH.
THAT IS THE THAT IS THE DAY AFTER OUR JUNE MEETING.
AND, BUT YOU'RE SUPPOSED TO REGISTER A WEEK IN ADVANCE.
SO AND IF YOU DON'T HAVE THE INFORMATION WE CAN SEND IT BACK OUT.
I THINK ASHLEY SENT IT OUT IN FEBRUARY, BUT AND MAYBE SOMEHOW WE CAN PUT IT ON OUR, OUR DDA WEBSITE.
SO THAT'S THAT. NEXT ITEM ON THE AGENDA FINANCIAL REPORT.
[4. Financial Report]
WELL SINCE JONATHAN'S NOT HERE, I'LL TRY TO REMEMBER.BUT BASICALLY WE'RE DOING GOOD RIGHT NOW. WE'RE, I THINK IN WE NOT ONLY ARE WE TAKING THE 236 FROM THE FLIP YEAR ON THE PEACHTREE STATION DEAL. BUT WE TOOK IN THE LUMEN BEXLEY PAYMENT FINALLY.
THAT WAS ABOUT, THAT WAS DUE IN OCTOBER AND WE JUST GOT IT.
YES, AND THAT WAS ABOUT $192,000. THERE WE GO.
SO OUR BUDGET RIGHT NOW OPERATING IN DEBT IS OVER 500 RIGHT NOW.
IT'LL BE LESS BECAUSE WE JUST CUT CHECKS. WE JUST.
ONE BEING A PRETTY LARGE CHECK THAT WAS DUE TO SEYFARTH SHAW, BUT AS OF TODAY, AFTER THOSE CHECKS THERE SHOULD BE ABOUT MAYBE A LITTLE LESS THAN 300,000 IN THE OPERATING ACCOUNT. AND THEN THERE'S ABOUT 127,000 IN THE DEBT SERVICE, WHICH WE WENT AHEAD AND MOVED SOME MONEY OVER IN ORDER TO COVER SOME UPCOMING DEBT SERVICE PAYMENTS FOR THE LOANS, BECAUSE THOSE ARE ABOUT $30,000 A MONTH FOR THE TWO LOANS.
OKAY, SO WE'RE FINALLY GETTING ON SOME GOOD FOOTING FORTUNATELY.
WE DID, ASHLEY AND JONATHAN AND I HAD A MEETING A WEEK AGO.
WE KIND OF TALKED ABOUT THE CITY. YOU KNOW, WE TOOK A $300,000 LOAN FROM THE CITY TO HELP US THROUGH THIS FINANCIALLY CHALLENGING TIME, SINCE MOST SINCE WE HAD A LOT OF UNEXPECTED COSTS WITH THE CITY CENTER.
WE'VE GOT TWO MORE PAYMENTS, TWO MORE $50,000 PAYMENTS FROM THEM.
WE DON'T ANTICIPATE IT IN ANY BUZZ THAT I'VE HEARD, WHICH IS VERY LITTLE BECAUSE I THINK RIGHT NOW IT'S MOSTLY DEEP INTO PLANNING AND DEVELOPMENT FOR THE LDP. BUT AS FAR AS I KNOW, EVERYTHING'S GOING WELL, BUT JUST THE WORST CASE SCENARIO YOU KNOW, WE STILL HAVE SOME DEBT DURING THE SUMMER AND WE DON'T MAKE MOST OF OUR, WE MAKE MOST OF OUR MONEY IN OCTOBER WHEN ALL OF OUR PAYMENTS ARE DUE.
SO WE'RE KIND OF, YOU KNOW, IF WE HAVE DEBT EARLIER IN THE YEAR, WHICH IS KIND OF WHAT HAPPENED TO US LAST YEAR, WE GOT INTO IT, YOU KNOW, WE GOT INTO A JAM BECAUSE WE DON'T GET OUR MONEY. THE BULK OF OUR OUR OPERATING FUNDS TILL LATER IN THE YEAR FOR OUR ADMIN PAYMENTS.
SO, AND WE DECIDED TO GO AHEAD AND LET'S CONTINUE GETTING THOSE LAST TWO, $50,000 PAYMENTS.
SO WE'VE GOT TWO MORE LEFT BECAUSE ONCE THE CITY CENTER SELLS, WE'LL BE ABLE TO CLEAR THE BOOKS OF ANY DEBT WE WELL, MOST OF OUR IMMEDIATE DEBT. SO WE JUST THOUGHT IT WAS BETTER TO GO AHEAD AND CONTINUE ON WITH THAT LOAN.
ANYBODY GOT ANY QUESTIONS ABOUT THAT OR? JUST A DISCUSSION ITEM.
IT STRIKES ME THAT IT MAY BE TIME TO START REENGAGING WITH THE PROPERTY OWNER OF THE CHAR-GRILLER PROPERTY, TO START LOOKING AT THE AGREEMENTS AND THE LOOKING AT DEMOLITION OF THAT PROPERTY AND DOING WHAT WE CAN TO MAKE THAT PROPERTY AS CLEAN OF HAIR AS POSSIBLE.
WHICH PROPERTY WAS THAT? SO THE, SO WHAT WE'RE TALKING ABOUT.
BEFORE WE MOVE ON, ARE WE STILL TALKING ABOUT THE FINANCIAL REPORT OR JUST IN A SEPARATE BUSINESS? WELL, IT WAS RELATED TO THE FINANCIAL REPORT BECAUSE IT HAD TO DO WITH.
WELL, WE TABLED MOVING FORWARD WITH TAKING THE BUILDING DOWN BECAUSE WE DIDN'T WANT TO SPEND THE MONEY. RIGHT. WE DIDN'T HAVE THE MONEY. YOU COULD ABSOLUTELY ADDRESS THIS AS A OLD BUSINESS ITEM. HOWEVER, JUST HOWEVER YOU'D LIKE TO HANDLE IT.
WE WERE GETTING ENGINEERS TO LOOK AT THAT BUILDING, BUT FROM A FINANCIAL STANDPOINT, WE WERE NOT IN A POSITION TO BE SPENDING ANY MONEY THAT DIDN'T NEED TO BE SPENT. SO I WILL. YOU AND I CAN HAVE ANOTHER CONVERSATION ABOUT YOUR CONNECTION TO THEM.
[00:10:05]
BUT WE'LL FOLLOW UP WITH THE NOTES OF WHAT WE HAD DONE UP TO A CERTAIN POINT AND TRY TO PICK UP FROM THERE BECAUSE I THINK.THEY ARE THE ISSUE IS, IS THAT THERE IS SOME UTILITIES THAT ARE CONNECTED BETWEEN THE TWO BUILDINGS.
THE BUILDING THAT WE OWN ACTUALLY EXTENDS TEN FEET ONTO THE ADJACENT PROPERTY.
RIGHT, RIGHT. AND BECAUSE THE BUILDINGS WERE ORIGINALLY OWNED BY THE SAME ENTITIES AND OPERATED BY THE SAME ENTITIES, THINGS LIKE THE GAS SERVICE AND THE FIRE SUPPRESSION.
AND PROBABLY ELECTRICAL AND OTHER THINGS ARE INTERCONNECTED BETWEEN THE TWO BUILDINGS.
AND WE'RE NOT CERTAIN OF WHAT THE STRUCTURAL RELATIONSHIP BETWEEN THE TWO BUILDINGS IS.
SO BEFORE WE DECIDE, BEFORE WE MAKE THE PLANS TO TAKE DOWN OUR BUILDING, TO TRY TO ELIMINATE SOME OF THOSE ISSUES THAT EXIST, WE NEED TO WORK WITH THE ADJACENT PROPERTY OWNER TO GET ACCESS TO THEIR BUILDING.
AND HE'S NOT NECESSARILY IN TOWN FREQUENTLY. SO WE'VE MADE SOME, SOME RELATIONSHIPS THROUGH STREAM.
AND SO I THINK THE REAL ISSUE IS TRYING TO REENGAGE WITH HIM TO SET THINGS UP SO THAT WE CAN GET MATT DUNNIGAN'S STAFF INTO THE BUILDING SO THAT THEY CAN UNDERSTAND HOW THE BUILDINGS ARE INTERCONNECTED, SO THAT AS WE MAKE PLANS TO TAKE DOWN OUR BUILDING, WE UNDERSTAND THE IMPLICATIONS OF WHAT WILL HAPPEN, HAVE TO HAPPEN ACROSS THE WALL. OKAY. WELL, WE'LL REACH OUT TO MATT AND SEE WHERE WE WERE WHEN WE LEFT THAT OFF AND SEE WHAT NEXT STEPS ARE.
I MEAN, THE NEXT STEP REALLY IS TO GET ACCESS TO THE BUILDING.
YEAH. WHICH WHICH HAS TO GO THROUGH THE PROPERTY OWNER.
RIGHT. OKAY. VERY GOOD. THANK YOU. ALL RIGHT.
OLD BUSINESS IN SOME SENSE, THAT WAS OLD BUSINESS.
NEW BUSINESS. I DON'T HAVE ANYTHING ELSE. ANYTHING NEW? SO WE'LL MOVE ON TO PUBLIC COMMENTS. I SEE WE HAVE AN AUDIENCE.
HOPEFULLY WE HAVE SOME PEOPLE WATCHING AT HOME, BUT NOBODY HERE.
AND WE DON'T HAVE AN EXECUTIVE SESSION TONIGHT.
SO I WILL ENTERTAIN A MOTION TO ADJOURN.
PERHAPS WE OUGHT TO. YEAH. WELL, KATIE YEAH. KATIE WILL MISS YOU ALL SUMMER.
ASHLEY WILL BE. [LAUGHTER]. WELL, WE WILL MISS YOU.
AND I KNOW ASHLEY WILL REALLY MISS YOU, ESPECIALLY DURING THIS BUSY SUMMER.
BUT I KNOW THAT YOU'RE GOING TO DO GREAT, AND WE'RE.
AND WE WISH YOU THE BEST. YEAH, WE'LL SEE YOU SOON.
SO. ALL RIGHT. MOTION TO ADJOURN. MR. CHAIR, I'D LIKE TO MAKE A MOTION TO ADJOURN.
SECOND. ALL THOSE IN FAVOR? THAT IS UNANIMOUS.
WE ARE ADJOURNED.
* This transcript was compiled from uncorrected Closed Captioning.