Development Authority discusses financial matters

Published 4:04 pm Sunday, August 3, 2025

The monthly meeting of The Development Authority of Milledgeville and Baldwin County was brief Monday morning.

Sharon Seymour, who serves as chairwoman of The DAMBC, announced that Jonathan Jackson, executive director of The DAMBC, would not be in attendance.

Seymour informed members that the agenda needed to be amended to remove the executive director’s report due to his absence.

Derek Williams, who serves as vice chairman of The DAMBC, made a motion to remove Jackson’s report from the agenda. The motion was approved.

After the minutes were approved, Greg Tyson, who also serves as a board member and as treasurer, discussed financial matters.

“You will note that our CD at Century (Bank & Trust) matured Sunday, and we’ll discuss that in a few minutes,” Tyson said. “Everything else is pretty straightforward.”

He said the DAMBC has about three more loan payments.

He said $7,500 for project assistance that has been set aside for a potential solar project.

Tyson also discussed budget versus actual figures for the year.

“Income is on track,” he said. “All the accounts on this page are tracking well and in great shape.”

When it comes to office expenses, Tyson said the annual budget had almost been reached.

A new printer was purchased earlier this year, he said.

“We are going to go over-budget there, but we are saving on the monthly printer cost,” Tyson said.

He said there are plenty of other accounts that will help cover the overage when it comes to office expenses.

Tyson also talked a little about the Strategic Plan Initiative.

“I think I’ve mentioned this before, but we spent $20,000 for Industry Ready Class that we sent six class participates to at Central Georgia Tech,” Tyson said. “We’ve received income to support that in the last fiscal year.”

Tyson said there had been no activity during this quarter in the capital fund.

“When you look at the annual, you can see Sibley Smith site income,” he said. “We received a reimbursement for capital expenses from SPLOST (Special Local Option Sales Tax). “That covers the time period from May of 2024 to February 2025.”

The financial report was approved unanimously. 

Tyson then talked about three invoices.

“All three invoices are from Thomas and Hutto,” he said.

That is the engineering company that The DAMBC utilizes on various projects.

“The first invoice in the amount of $2,760 covers Thomas & Hutton’s work and their attendance at a site visit,” Tyson said. “The second invoice is for consulting work on a recent project in the amount of $2,775 and the third invoice was in the amount of $17,402.50 and that was for wetlands permitting.”

All three invoices were approved. 

Tyson also provided the board with an update on the wetland permitting.

“Prior to the invoice we just approved, we had spent $110,728 so we seem to be on track there,” he said, noting he would like for the board to receive an update from the group’s engineering company in the near future.

As previously mentioned, Tyson said the CD matured Sunday at Century Bank & Trust.

“We’ve got 10 days to make any changes if we wish to,” Tyson said. “If we don’t do anything, it will renew for 180 days at a special rate at 3.7% APR, which is a pretty good rate right now.”

A motion was made by Evans to renew the CD for six months with Century Bank & Trust. It was seconded by Walker.

It was approved unanimously by the board.