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ACDC Minutes - 01/26/2021

MINUTES
AUBURN COMMUNITY DEVELOPMENT CORPORATION
The Board of Director's Regular Meeting
January 26, 2021

The Board of Directors of the Auburn Community Development Corporation ("ACDC") met on Tuesday, January 26, 2021, via Zoom due to COVID-19.

CALL TO ORDER

The Board of Director's Regular Meeting was called to order at 12:03 pm by Sharon Tolbert, President.

ROLL CALL

Present: Nolan Torbert, Rene Waldrop, Robert Smith, Deborah Hand, and Sharon Tolbert
Others Present: Michael Syme (Attorney), Kristen Packard (Consultant), Sandra Sanders (Staff), and Wendy Cochran (Staff)
Absent: Marguerite White
There was a quorum for the purpose of conducting business.

APPROVAL OF THE AGENDA

President Tolbert asked if there were any changes to the Agenda. There were no changes. President Tolbert asked for a motion to approve the Agenda. Director Torbert moved that the Agenda be
approved as received. Director Hand seconded said motion and all members voted aye. President Tolbert declared the Agenda approved.

APPROVAL OF MINUTES

President Tolbert asked if there were any corrections to the November 24, 2020 Regular Meeting Minutes and the December 15, 2020, Special Meeting Minutes. It was noted the following needed to be added to November 24, 2020, Regular Meeting Minutes regarding Resolution FYE2021-003 (Property Acquisition):

Director Robert Smith disclosed he has business relations with the Alabama Housing Finance Authority and Auburn Bank and abstained from all discussion.

President Tolbert asked for a motion to approve the Minutes to include the corrections to the November 24, 2020 Minutes. Director Waldrop moved that the Minutes be approved including the
noted corrections. Director Hand seconded said motion and all members voted aye. President Tolbert declared the Minutes approved.

PUBLIC COMMENTS

There were no public comments.

TREASURER'S REPORTS

Secretary/Treasurer Torbert reviewed Requisition #2 which included an invoice to procure Public Officials Liability and Employment Practices Liability Insurance. Requisition #2 and supporting documentation are attached and made part of the Minutes.

UNFINISHED BUSINESS

A. Resolution FYE2021-005: Bedell Village Best and Final
Resolution FYE2021-005 was introduced by President Tolbert. The Resolution approves ratifying the Best and Final Offer to purchase property located at 889 Lunsford Drive in Auburn, Alabama in the amount of $2,600,000 and changing the due diligence period from 90 days to 45 days. Michael Syme discussed the details of the Best and Final Offer. It was noted the owner has not made a determination of the award. There were various discussions regarding the proposed
purchase. President Tolbert asked for a motion to approve Resolution FYE2021-005. Director Waldrop moved that the resolution be approved as received. Director Torbert seconded said motion and all
members voted aye. Director Smith abstained. President Tolbert declared the Resolution approved.

Director Robert Smith disclosed he has business relations with the Alabama Housing Finance Authority and Auburn Bank and abstained from voting.

NEW BUSINESS

B. Next Meeting
The meeting will be held on February 23, 2021via Zoom.

OTHER BUSINESS

There was no additional business.

ADJOURNMENT

There being no further business, President Tolbert asked for a motion to adjourn. Director Smith moved that the meeting be adjourned; Director Torbert seconded. The meeting was adjourned at 2:30 pm.