Marietta Redevelopment Corporation Loan Council Member Grif Chalfant requests a discussion relative to the MRC loan. Philip Goldstein previously disclosed that he owns stock individually as well as jointly in Synovis. Said company is the parent of Bank of North Ga. If all stock in Synovis (as of the 7-1-2013 investment statement) owned individually or jointly were sold, the amount attributable to him from his ownership portion would be approximately $3,964.93 based on the stock price when checked on 10-8-2013. While it is under the reporting requirement, he elects to not participate on this issue at this time and abstain on any action relating to this issue. Haynie, Litchfield, Crane & White, PC, from time to time, but not in this matter, has performed real estate closings for or with client for Bank of North Georgia. Mayor Tumlin is a Board member of the MRC and is a member of the governing body that appoints the Board Members of the MRC. The Law Firm, Smith, Tumlin, McCurley & Patrick, PC, of which Tumlin is a non owner associate, from time to time, but not in this matter, has performed real estate closings for or with client for Bank of North Georgia.

Committee

ECONOMIC/COMMUNITY DEVELOPMENT COMMITTEE

Requested by

City Manager

Introduced

October 21, 2013

Passed

October 30, 2013

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