Downtown Development Authority  Tuesday, March 19, 2024 Meeting Minutes City Hall Council Chambers 3725 Park. Avenue Doraville, Georgia 30340  Prepared by:  5p.m.  Shanta J. Bingham, City Clerk  I.  CALL TO ORDER  Chair Harold Shinn called the Meeting to Order.  II. ROLL CALL  Harold Shinn, Doug Edwards, Schuyler Clark, and Sergio Monzalvo were,  present.  III. APPROVAL OF MEETING AGENDA  There was a motion to approve the April 17, 2024, agenda.  MOTION: Sergio Monzalvo SECOND: Doug Edwards  Ayes: Doug Edwards, Schuyler Clark, and Sergio Montalvo  Nays: None Abstain: None IV. NEW BUSINESS  A. Consideration of the approval of a Resolution to Authorize the Authority to Execute and Deliver a Letter to Serta Simmons Bedding, LLC ("Operator") Regarding Operator's Compliance that Certain Economic Development Agreement, dated as of June 1, 2017 ("Development Cecil McLendon City Attorney presented the item to the Board. Mr, McLendon explained that part of the requirements and one of the employment goals that jobs would be created, annual requirements, etc. the Economic Development agreement is still in place. Mr. McLendon mentioned that they are asking the Board to authorize the City to send a certified letter to Serta Simmons requiring strict compliance with the The Board discussed and had the following concernis: what happens if there is continued non-compliance, the timeframe to respond, and whether reports have been on time and forthcoming.  Agreement).  agreement.  There was a motion to approve the Resolution authorizing the Authority to  send the letter to Serta Simmons.  03.19.2024 Downtown Development Authority Meeting Minutes    MOTION: Doug Edwards SECOND: Schuyler Clark  Ayes: Doug Edwards, Schuyler Clark, and Sergio Monzalvo  Nays: None Abstain: None  B. Consideration of the approval of the execution of non-recourse financing arrangements pledging the Authority's interest in the Lotus Grove Project as collateral to a Lotus Grove lender, subject to the Authority's Reserved Rights and upon approval of the final documents by the Board Chairman and Attorneys. Cecil McLendon, City Attorney presented the item to the Board. There was a motion to approve the April 17, 2024, agenda.  MOTION: Doug Edwards SECOND: Schuyler Clark  Ayes: Doug Edwards, Schuyler Clark, and Sergio Montalvo  Nays: None Abstain: None  C.P Proposed Regular Meeting Schedule for the Downtown Development Cecil McLendon, City Attorney presented the item to the Board. There was a motion to approve the April 17, 2024, agenda.  Authority oft the City of Doraville.  MOTION: Schuyler Clark SECOND: Sergio Montalvo  Ayes: Doug Edwards, Schuyler Clark, and Sergio Montalvo  Nays: None Abstain: None  V.  GENERAL BUSINESS  The Board discussed DDA Board Member Selections  VI. ADJOURNMENT  There was a motion to adjourn the meeting.  MOTION: Schuyler Clark SECOND: Doug Edwards Nays: None Abstain: None  Ayes: Doug Edwards, Schuyler Clark, and Sergio Montalvo  03.19.2024 Downtown Development Authority Meeting Minutes    Approved:  6  Attest:  Shanta BAE  J. Bingham, Secretary  03.19.2024 Downtown Development Authority Meeting Minutes