ALL RIGHT LETS THE CALL MEETING TO ORDER. IT IS 6:31. [1. Call to Order] [00:00:07] THIS IS AUGUST 25TH, 2026 FOR THE CHAMBLEE DOWNTOWN DEVELOPMENT AUTHORITY. QUICK ROLL CALL. MIKE ESCOBAR. HERE. JONATHAN SMITH. HERE HERE. ALL RIGHT. WE'LL DO THE PLEDGE. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL. [2. Approval of Minutes] ALRIGHT. DID EVERYBODY HAVE A CHANCE TO READ OVER OUR JULY MEETING MINUTES? AND. YEAH. ANY DISCUSSION ABOUT THAT? CAN I GET A MOTION TO ACCEPT THE MEETING MINUTES FROM JULY 28TH? MOTION. MOTION TO APPROVE THE DOWNTOWN DEVELOPMENT AUTHORITY REGULAR MEETING MINUTES FOR JULY. IS THE 28? 28. 28. 2026. I GET A SECOND. SECOND. ALL THOSE IN FAVOR? AND THAT IS UNANIMOUS. ALL RIGHT. [3. Chair's Report] CHAIR'S REPORT. I DO HAVE SOME NEWS AS OF TODAY ABOUT THE CITY CENTER THAT I WANTED TO SHARE WITH YOU. I REACHED OUT TO CATHERINE MOSLEY TO GET AN UPDATE. WE HADN'T HEARD ANYTHING IN A WHILE. I'VE BEEN IN. I'VE BEEN CHATTING WITH ASHLEY. SHE'S BEEN KEEPING ME KIND OF IN THE LOOP ABOUT WHAT'S GOING ON WITH THE MEETINGS THAT THE THE GREYSTAR HAD WITH THE CITY BECAUSE WE RAN INTO SOME HICCUPS. AND SO WE, THERE WAS A TEAM THAT WAS PUT TOGETHER ON THE CITY SIDE TO TRY TO HELP FACILITATE THE PROCESS. AND AS OF A COUPLE WEEKS AGO, THE LDP WAS SIGNED OFF BY THE CITY AND EVERYTHING NOW IS BETWEEN GREYSTAR AND DEKALB COUNTY. SO THERE ARE A COUPLE LITTLE THINGS THAT WERE GOING ON WITH THAT. BUT THEY ACCORDING TO CATHERINE TODAY, SHE FELT THAT THINGS WERE MOVING ALONG. THEY HAD BEEN WORKING WITH THE COUNTY AND THE COUNTY HAD GIVEN THEM SOME NOTES. SO THEY HAD WORKED THROUGH ALL OF DEKALB'S COMMENTS. AND THEY RESUBMITTED THEIR LDP TODAY. AND THEY HOPE THIS GETS ISSUED IN TWO WEEKS. THE OTHER THING IS THE BOND DOCUMENTS FOR THE CLOSING HAVE BEEN GOING BACK AND FORTH, AND THEY'RE GOING TO BE COORDINATING WITH THE LENDER IS, IS THE LAST CRITICAL STEP FOR THAT. THEY DID HAVE A MEETING TODAY WITH CHAMBLEE TO REVIEW THE BUILDING PERMIT PROCESS. SO THE PLAN IS TO SUBMIT IN THE NEXT TWO WEEKS AND THAT'S GOING TO TIE WITH THE LDP APPROVAL. BUT NOW WE ARE WORKING TOWARDS A CLOSING IN OCTOBER, SO THEY WILL BE EXERCISING ONE OF THEIR TWO EXTENSIONS, 30 DAY EXTENSIONS. SO THAT IS THE LATEST AS OF TODAY. ANY QUESTIONS OR CONCERNS? IN THEORY CLOSE IN OCTOBER. IS IT. IS THERE A DATE IN OCTOBER? NO, JUST SOMETIME IN OCTOBER. SHE INITIALLY SAID LATE AND THEN I TALKED TO HER AND MAYBE MID TO EARLY. SO IT'S JUST SHE SAID IT'S KIND OF CONTINGENT ON DEKALB COUNTY'S RESPONSE TO SOME OF THE CONCERNS. OKAY. AND IN THEORY, WHAT IS. WHAT WOULD HAPPEN BETWEEN THE CLOSING AND SHOVELS IN THE GROUND? YEAH, BECAUSE I, BECAUSE I, LIKE I SAID, I THINK. BECAUSE THEY WOULD HAVE SIGNED FOR THEIR LOAN TOO. OR IS THAT THAT'S OUTSIDE OF THAT THAT I'M NOT SURE ABOUT. THERE'S TWO DAYS BECAUSE THEY'RE GOING TO, YOU KNOW, GREYSTAR VANTAGE ARE REALLY TWO SEPARATE. RIGHT. THINGS. SO THEY. I DON'T KNOW IF THEY'LL MOVE WANT TO MOVE FASTER THAN THE OTHER OR NOT. I MEAN, THEY'RE SUPPOSEDLY BASED ON THE CONVERSATION WE HAD WITH THEM DURING THE SELECTION PROCESS THAT, THAT THEY'RE KIND OF ALL IN. WELL, MY UNDERSTANDING IS THAT GREYSTAR IS NOT TURNING OVER THE RETAIL PORTIONS UNTIL IT'S COMPLETE. RIGHT. AND SO I DON'T KNOW THAT VANTAGE HAS TO PUT UP MONEY UNTIL THEY START DOING FIT OUTS. YEAH, I THINK THAT'S TYPICALLY THE WAY IT WORKS. GREYSTAR WOULD DO THE SITE WORK, GET THE BUILDING AND KIND OF SHELL CONDITION, THEN SELL IT TO THE RETAIL COMPONENT. GOTCHA. AND THEN THE RETAIL. [00:05:04] BUILDINGS, THEY DON'T SHARE THE SAME BUILDINGS. NO, THEY ARE DISCONNECTED. BUT GREYSTAR IS GOING TO BE CONSTRUCTING ALL OF THEM AT THE SAME TIME. THAT'S WHAT. THAT'S WHAT THEY INDICATED IN THE SELECTION PROCESS. SO IN ANY CASE, THE SEPTEMBER 18TH DEADLINE WILL WE WILL MISS THAT. BUT SHE FELT VERY CONFIDENT THAT THINGS WERE MOVING. MULTIPLE PARTS OF THIS WERE MOVING FORWARD. AND SHE FELT VERY POSITIVE ABOUT IT. SO WE'LL KEEP OUR FINGERS CROSSED FOR OCTOBER. SO THE LAWYERS ARE DONE WITH THEIR JOB? NO, NO, BECAUSE WE STILL HAVE CLOSING DOCUMENTS AND WE HAVE A LAUNDRY LIST ABOUT A MILE LONG OF EVERYTHING THAT'S GOT TO BE SATISFIED THAT FOR GREYSTAR TO COME TO THE TABLE WITH, FOR THE ACTUAL CLOSING. IN THE BOND, THERE'S SOME STILL SOME STUFF. YEAH, THERE'S STILL SOME STUFF WITH THE BOND, BUT YEAH. DAN, DANNY SENT OUT A LIST. DANNY MAC FROM [INAUDIBLE] SENT OUT A LIST A WEEK OR TWO AGO TO GREYSTAR OF ALL THE THINGS THEY NEED FOR CLOSING, AND IT'S, IT'S A LONG LIST. SO THEY'RE WORKING ON. SO WE'RE NOT DEBATING TERMS. NO. TYPICALLY CLOSING DOCUMENTS ARE PRETTY STANDARD FORMS LIKE A LIMITED WARRANTY DEED STUFF LIKE THAT. SO THEY'RE NOT HEAVILY NEGOTIATED. THE ATTORNEYS STILL HAVE TO PREPARE THEM. BUT I WOULD THINK THE HEAVY LIFTING FROM THE ATTORNEY SIDE IS DONE. GREAT. THAT'S ASSUMING NO OTHER OUTSIDE ISSUES. RIGHT. [LAUGHTER]. ONCE GROUND IS BROKEN, HAVE THEY GIVEN US AN ESTIMATE? AND THIS MAY HAVE BEEN EARLY ON, BUT AN ESTIMATE OF TIME TO COMPLETION. LIKE WHAT IS THE EXPECTED? I THINK IT'S I WOULD EXPECT BY THE TIME. IT'S PROBABLY 18 MONTHS TILL WHEN THEY HAVE THE SHELLS DONE, WHICH MEANS THAT THE RETAIL PORTION IS PROBABLY GOING TO BE SIX MONTHS AFTER THAT, YOU KNOW, WITH CONSTRUCTION PROCESSES AND EVERYTHING ELSE. MY ASSUMPTION IS TWO AND A HALF YEARS AT THE OUTSIDE. BY THE TIME THEY GET. AND THEY'RE GOING TO BE DELIVERING, MY ASSUMPTION IS ALSO THAT THEY'RE GOING TO BE DELIVERING THE RESIDENTIAL PORTION IN STAGES. SO THAT PORTIONS OF THAT BUILDING WILL GET THEIR CERTIFICATE OF OCCUPANCY BEFORE WHILE THEY'RE STILL WORKING ON OTHER PARTS. AND SO IT PROBABLY WON'T ALL BE COMPLETE FOR TWO AND A HALF YEARS. A RETAIL BUILD OUT WILL BE BUILD, PROBABLY SOME SORT OF BUILD TO SUIT FOR SOME OF THE SPACES, LIKE YES, ON WHO WILL, YOU KNOW, WANTS TO COME IN, IT'LL BE DIFFERENT. IT'S THE SHELL LIKE YOU SAID. RIGHT. SO. AND WHO IS ULTIMATELY RESPONSIBLE FOR PROMOTING THE AVAILABILITY OF RETAIL AND RESIDENTIAL SPACE? [LAUGHTER] WELL, THAT WOULD BE VANTAGE AND GREYSTAR. I MEAN, THAT'S. THEY HAVE TO PROMOTE. AND THEY'RE VERY GOOD AT LETTING PEOPLE KNOW THAT THOSE PROPERTIES ARE FOR LEASE. VANTAGE IS FANTASTIC. VANTAGE HAS BEEN TALKING TO POTENTIAL TENANTS SINCE THEY WERE PUTTING TOGETHER THEIR INITIAL PROPOSAL. SO I GUESS MY QUESTION IS WE DON'T HAVE ANY CONCERNS ABOUT OCCUPANCY OF THIS? WE HAVE CONCERNS BUT. YEAH, I THINK THERE'S ALWAYS CONCERNS. BECAUSE IT'S. POSITION EXACTLY LIKE WHAT'S BEING CREATED. SO WHAT DO YOU THINK, ASHLEY? DO YOU THINK THAT. SHE BROUGHT UP A GOOD POINT. ECONOMIC DEVELOPMENT COULD HAVE SOME ROLE IN THAT. YEAH. SO IF YOUR QUESTION IS MORE OF WHO'S RESPONSIBLE, LIKE LEGALLY THEY'RE RESPONSIBLE FOR IT. BUT ECONOMIC DEVELOPMENT IS ALL A PART ABOUT BUILDING RELATIONSHIPS, MAKING CONNECTIONS, ALL THAT STUFF. SO OBVIOUSLY IF SOMETHING IF I COME ACROSS SOMETHING, I'M HAPPY TO, YOU KNOW, PASS THAT ALONG TO THEM MORE OF JUST LIKE A, HEY, YOU SHOULD, YOU KNOW, KEEP AN EYE OUT FOR THIS BUSINESS AND STUFF. OBVIOUSLY, THEY HAVE ALL THEIR, THEIR CONTACTS, BUT WE ARE ALSO STAYING IN CONTACT WITH THEM IF WE COME ACROSS ANYTHING. BECAUSE THERE WAS ONCE UPON A TIME WE BOUGHT A PREDATED A LOT OF US. BRIAN THAT WAS HERE WAS WHEN I GUESS THEY TRIED TO. DAVID CARTER AND THOSE GUYS THEY WANTED TO DO, YOU KNOW, BRAND CENTER OF THE UNIVERSE AND ALL THAT KIND OF STUFF AND BE PART OF THAT PACKAGE. I DON'T KNOW IF THAT KIND OF FELL OFF BY THE WAYSIDE. IT WAS ALSO VERY DIFFICULT, EXPENSIVE, AND A BUNCH OF OTHER THINGS. ALSO, IF YOU'VE SEEN ANY OF THE PROMOTIONS LATELY THAT THE CHAMBLEE CHAMBER OF COMMERCE IS GETTING RESURRECTED AND THEY'RE HAVING A AN OPEN HOUSE ON WEDNESDAY, SO [00:10:06] THERE WAS A CHAMBER OF COMMERCE A LONG TIME AGO, AND THEN IT KIND OF WENT TO THE WAYSIDE KIND OF. SO NOW SO YEAH, SO THE NEXT ONE IS, I THINK WEDNESDAY. IT'S TOMORROW. IT'S TOMORROW YEAH. MAYBE A CONNECTION THERE. AND WE GOT TWO YEARS TO FIGURE THAT OUT. YEAH. [LAUGHTER]. WELL WE, WE DO. BUT I MEAN IT WOULD TAKE TWO YEARS FOR A BUSINESS TO MAKE THAT KIND OF TRANSITION TO LIKE, I'M TRYING TO THINK ABOUT IT FROM THE, FROM THE STANDPOINT OF CREATING ENOUGH INTEREST IN THAT, THAT YOU, YOU ULTIMATELY ARE IN A POSITION OF GETTING. AND I DON'T KNOW HOW I DON'T KNOW HOW MUCH THE CITY CAN OR COULD GET INVOLVED WITH CHOOSING WHO GETS TO BE IN THERE. SO WE DON'T HAVE, WE HAVE BUSINESSES THAT WE THINK WILL THRIVE IN THAT IN THOSE UNITS. WELL, VANTAGE IS HANDLING ALL THE PROGRAMING FOR THE RETAIL. I MEAN, I THINK WE'VE EXPRESSED WITH THEM, ESPECIALLY SINCE WE CHOSE THEM BECAUSE OF WHAT THEY'VE DONE UP IN DULUTH, THAT THEY ARE VERY GOOD AT THAT. AND SO WE'RE GOING TO KIND OF LEAVE IT IN THEIR HANDS BUT. YOU KNOW, CERTAINLY WE CAN MAKE RECOMMENDATIONS. AND WITH THE CHAMBER TOO, I THINK IT'S GOING. TO THE CITY CENTER IS GOING TO SELL ITSELF. THE CHAMBER OF COMMERCE IS GOING TO SAY, BY THE WAY, WE'RE GETTING READY TO BUILD THIS HUGE THING RIGHT ACROSS FROM CITY HALL. WHAT A FANTASTIC LOCATION. AND IT'S GOING TO BE REALLY GREAT SO. SEEING WHAT I SEE NOW, EVEN WITH THAT BEING A FIELD, IT'S PRETTY INCREDIBLE IN THIS AREA. OH YEAH. SO I DON'T EVEN KNOW HOW MUCH. BUT I DO AGREE. WE THINK WE SHOULD KEEP AN EYE ON THINGS AND, AND GET PAST THIS CLOSING. AND THEN WE CAN KIND OF. YEAH. BECAUSE WE'RE GOING TO NEED SOMETHING TO DO. [LAUGHTER] WE'LL FIND SOME STUFF TO DO. [4. Financial Report] ALRIGHT. FINANCIAL REPORT. JONATHAN. YEAH. THE LAST MONTH HAS BEEN A PRETTY TYPICAL MONTH FOR US FROM A FINANCIAL PERSPECTIVE. PAID OUR INTEREST. WE HAVE A BALANCE OF $463,000 ON OUR BALANCE SHEET. WE HAVE THE $300,000 OUTSTANDING LOAN FROM THE CITY THAT WE. WE ALL AGREED WE WOULD LOOK TO PAY BACK AS SOON AS WE CLOSE. SO WE'LL REVISIT THAT NEXT MONTH AND PROBABLY THE FOLLOWING MONTH. BUT THAT'S ABOUT ALL I HAVE. AND OCTOBER IS OUR MONTH FOR GETTING A LOT OF ADMIN PAYMENTS, CORRECT? THAT'S RIGHT. IT'S USUALLY. WAS IT TEN DAYS AFTER WE DELIVER NOTICE. IT SHOULD BE. LAST YEAR A LOT OF THEM WERE LATE. I'M NOT AWARE OF ANY KIND OF PENALTY ON THAT OR IF HISTORICALLY THE DDA HAS EVER PURSUED THAT. BUT YES, PER THE CONTRACTS, THEY'RE SUPPOSED TO BE SUBMITTED IN OCTOBER. FOR EXAMPLE, LUMEN PAID THEIR 2025 ADMIN PAYMENT, WHAT, TWO MONTHS AGO? THE 191. BUT OF COURSE, THERE WERE SOME ISSUES WITH THE COUNTY AND ALL THAT THAT WE HAD TO NAVIGATE SO. BUT YES, THEY ARE DUE IN OCTOBER AND WE'LL PUSH THEM TO MAKE THOSE PAYMENTS. VERY GOOD. ANY QUESTIONS? OLD BUSINESS. 2026 CITY EVENTS AND DDA PROPERTIES. [5. Old Business] I'LL LET ASHLEY HANDLE THIS ONE. YES. SO IF YOU REMEMBER, A FEW MONTHS AGO. I BROUGHT IN FRONT OF YOU A LIST OF CITY EVENTS THAT WE WERE DOING THAT WOULD INVOLVE DDA PROPERTIES SIMILAR TO WHAT WE'VE DONE IN PREVIOUS YEARS. SO THESE ARE JUST TWO OTHER EVENTS THAT WEREN'T ON THAT LIST ORIGINALLY. BASICALLY JUST WANTED TO BRING IT TO YOU FOR AWARENESS. I THINK HISTORICALLY YOU HAVE VOTED ON IT. BUT WHATEVER YOU WOULD LIKE TO DO WITH WORK. SO CHALK WALK IS ON SEPTEMBER 12TH, SATURDAY, SEPTEMBER 12TH. THEY ARE PLANNING TO USE 3519 BROAD STREET TO PLACE A BATHROOM TRAILER. AND THEN THEY'RE ALSO LOOKING AT USING 3525 BROAD STREET FOR PARKING FOR DOWNTOWN EMPLOYEES. AND BASICALLY THAT'S BECAUSE THE ROAD WILL BE CLOSED. SO THEY OFFER SOME OF THE LOCAL BUSINESSES THAT ARE AFFECTED BY THAT TO HAVE THEIR EMPLOYEES PARK THERE. AND THEN SEPTEMBER 30TH IS SOMETHING THAT MY DEPARTMENT IS ACTUALLY DOING. IT'S A BUSINESS RESOURCES 101. THAT IS A WEDNESDAY AND IT'S DURING THE DAY. BUT WE MAY NEED ADDITIONAL PARKING OUTSIDE OF WHAT'S AVAILABLE IN CITY HALL. SO WE ARE CONSIDERING USING SOME DDA LOTS. AND I SAY IF AVAILABLE BECAUSE THAT'S PAST THE, THE CLOSING DATE AS IT AS IT IS NOW. SO IF FOR SOME REASON IT DOES CLOSE BEFORE THEN, THEN WE'LL JUST LOOK SOMEWHERE ELSE. BUT IF IT IS AVAILABLE, THAT'S THAT IS OUR PLAN. SO WOULD THERE BE AN ACTION ITEM ON THIS THEN? I THINK YOU CAN GO AHEAD AND DO A MOTION JUST TO BE CONSISTENT WITH WHAT. DDA PROPERTIES FOR SEPTEMBER 12TH AND SEPTEMBER 30TH. [00:15:02] I WOULD LIKE TO MAKE A MOTION TO ALLOW THE CITY TO USE 3519 BROAD STREET AND 3525 BROAD STREET ON SEPTEMBER 12TH. AND ALSO USE ON SEPTEMBER 30TH, 3525 BROAD STREET AND 2155 2161 URBANDALE DRIVE. CAN I GET A SECOND? SECOND. ALL THOSE IN FAVOR? AND THAT IS UNANIMOUS. VERY GOOD. NEW BUSINESS. [6. New Business] ALL RIGHT. THIS IS FOR A RESOLUTION FOR THE CITY CENTER BOND ASSIGNMENTS. AS YOU KNOW THAT WHEN WE. WHEN THE DEVELOPER OR WHEN THEY DO A DEVELOPMENT LIKE THIS, THEY CREATE A SECOND LLC, AN ENTITY FOR TO HANDLE THE FINANCIAL ASPECT OF THIS PROJECT. AND THEY'RE ACTUALLY, I THINK IS TWO LLCS, ONE FOR THE RETAIL AND ONE FOR THE MULTIFAMILY. SO THIS BASICALLY IS ALLOWING US TO ASSIGN TO APPROVE OUR PROJECT BOND ASSIGNMENTS FOR THE CITY CENTER PROJECT TO THESE NEW ENTITIES. SO THE MOTION WOULD BE TO APPROVE THE ISSUER'S RESOLUTION FOR THE CITY CENTER PROJECT BOND ASSIGNMENTS AS PRESENTED. MR. CHAIR, I'D LIKE TO MAKE A MOTION TO PRESENT THE ISSUER'S. THE ISSUER'S RESOLUTION FOR THE CITY CENTER BOND ASSIGNMENTS AS PRESENTED. CAN I GET A SECOND? SECOND AND THAT IS UNANIMOUS. VERY GOOD. THANK YOU. THAT MOVES US ON TO PUBLIC COMMENTS. AND. NO PUBLIC WE WILL MOVE DOWN TO EXECUTIVE SESSION. I DON'T THINK WE HAVE AN EXECUTIVE SESSION TONIGHT. AND IN THAT CASE, I WILL TAKE A MOTION TO ADJOURN. MR. CHAIR, I'D LIKE TO MAKE A MOTION TO ADJOURN. AND A SECOND. SECOND AND THAT IS UNANIMOUS. THANK YOU VERY MUCH, EVERYBODY. * This transcript was compiled from uncorrected Closed Captioning.