Downtown Development Authority - A. Max Bacon City Hall - HR Training Room — Minutes
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June 04, 2025 12:00 PM City of Smyrna Downtown Development Authority Meeting 2800 King Street SE HR Training Room Page 2 of 3 Tom Owens, Raymond James & Associates, Inc. • This bond will look nearly identical to the Church Redevelopment bond • The bank rate is 5.22 • All in rate is 5.47 • The bonds are callable, can be paid without penalty • Begin paying principal next February • This is a placement with a single bank purchaser • Make whole – between now and then, the city can sell it and pay it off immediately • Can pay off up to 20% of loan in any one year at any time without penalty • This in conjunction with the Church – can pay off either bond • This will go before Mayor and Council again Potential Concepts: • 24 indoor/24 outdoor pickleball • Maybe “The Bouncers” would consider this as their home • Friday Night Lights • Baseball, Volleyball • Retail frontage Committee Member Jim Duelmer made a motion to approve item ATH2025-099; seconded by Committee Member Tarun Ganeriwal. The motion to approve carried with the following vote: Aye: 5 – Committee Member Drawe, Committee Member Davis, Committee Member Duelmer, Committee Member Gangemi, Committee Member Ganeriwal Nay: 0 – None Absent: 2 – Committee Member Bacon, Committee Member Saliba B. ATH2025-103 Adopt a Bond Resolution authorizing the issuance of Economic Development Revenue Bonds, federally taxable series 2025 in the original amount of $11,335,000.00. Committee Member Jim Duelmer made a motion to approve item ATH2025-103; seconded by Committee Member Tarun Ganeriwal. The motion to approve carried with the following vote: Aye: 5 – Committee Member Drawe, Committee Member Davis, Committee Member Duelmer, Committee Member Gangemi, Committee Member Ganeriwal Nay: 0 – None Absent: 2 – Heather Bacon, Jason Saliba 5. Approval of Minutes A. MIN2025-119 Approval of the March 21, 2025 Downtown Development Authority Meeting Minutes Committee Member Ron Davis made a motion to approve item MIN2025-119; seconded by Committee Member Tarun Ganeriwal.