Downtown Development Authority — Minutes

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March 21, 2025 
8:30 AM 
 
City of Smyrna 
Downtown Development Authority Meeting 
2800 King Street SE 
HR Training Room 
 
Page 2 of 3 
 
want is another apartment complex and coffee shop. Ron Davis did suggest that the idea 
of a disability baseball field be considered.  
  
Scott Cochran explained the following:  
• $10,176,000.00 for just above 12 acres 
• 90 day due diligence 
• It must appraise for the purchase price 
• Subject to the city getting the bond 
• It is restricted from medical use except for those establishments already in place 
 
Committee Member Jason Saliba made a motion to approve item AGR2025-014; 
seconded by Committee Member Jim Duelmer. 
 
The motion to approve carried with the following vote: 
 
Aye: 5 –  Committee Member Bacon, Committee Member Davis, Committee 
Member Duelmer, Committee Member Ganeriwal, Committee Member 
Saliba 
Nay: 0 –  None 
Absent: 2 –  Committee Member Drawe, Committee Member Gangemi 
 
 B. 2025-152 Adopt resolution authorizing the issuance series 2025 federally taxable revenue 
bonds for the purchase of approximately 12.72 acres at 3903, 3949 and 3967 South Cobb 
Drive as well as demolition, site development and issuance costs related thereto.  
 
Tom Owens, Raymond James, explained the following:  
• Issuing a taxable bond 
• Using taxable bond because the use is unknown 
• 3-year call – 2/1/2028 is the first point when it can be paid off early 
• Lines up with the end of the current SPLOST 
• This is just approving the parameters to start the process 
• Final terms will come 
• The total amount will be $11.5M; $11.75M will be authorized 
• Hope to do this in 60-75 days 
 
Committee Member Heather Bacon made a motion to approve item 2025-152; seconded 
by Committee Member Jason Saliba. 
 
The motion to approve carried with the following vote: 
 
Aye: 5 –  Committee Member Bacon, Committee Member Davis, Committee 
Member Duelmer, Committee Member Ganeriwal, Committee Member 
Saliba 
Nay: 0 –  None 
Absent: 2 –  Committee Member Drawe, Committee Member Gangemi 
 
5. Approval of Minutes 
 
 A. MIN2025-061 Approval of the November 19, 2024 Downtown Development Authority 
Meeting Minutes