Finances still a concern for DAPC

By JOHN MUNFORD
jmunford@TheCitizenNews.com

The Development Authority of Peachtree City is still taking baby steps to create a system to pay its bills.

The authority’s financial status was the main topic of discussion at Tuesday night’s regular meeting of the board. Authority member Tyler Duffy said he needed additional documentation so he can proceed with establishing a checking account for the group. He also noted that authority chairman Scott Formel told him there were several bills that needed to be taken care of as soon as possible.

Duffy said the creation of financial statements also is important “to show we’re fulfilling our fiduciary responsibility.”

“I want any citizen to be able to come in from the street and say ‘Hey, I want to look at your books,’ and be satisfied,” Duffy said.

Complicating matters is that the authority previously operated the city’s tennis center and amphitheater, and the current authority is no longer tasked with those duties. The current authority only has to worry about economic development matters and sorting out the legal entanglements due to the outstanding debt for the tennis center construction, which the city has so far refused to pay.

The Development Authority is technically on the hook for the tab of over $1 million owed to Peachtree National Bank, but the bank argues the city, which owns the facility, also bears responsibility to pay off the debt.

The tennis center and amphitheater are now being managed by the Peachtree City Tourism Association, created roughly a year ago with members appointed by the City Council.

It has only been recently that the authority started getting regular payments from the city, averaging to about $30,000 a year, to meet its needs for economic development, including the costs of training new board members.

It was suggested that former authority members be consulted as to how the board was set up previously from a financial perspective.

“I just want it to be right so there’s no question,” Duffy said.

Authority member Todd Strickland said he’d like to see the authority’s financial status updated at each monthly meeting.

“It’s like we’re starting a new small company,” Strickland said. “When we get really fancy later on, we can have a budget.”

In other business, the authority discussed possible content for part of a Web site that is being developed by city officials to create “one-stop shopping” for persons in cyberspace interested in learning about Peachtree City.

The authority batted around a few ideas, including:

• Listing all of the large-scale available properties in the industrial park and possibly the contact information for the brokers handling those properties.

• Highlights on the quality of life in Peachtree City, including the well-regarded Fayette County school system.

• Information on utility and transportation services such as railroad access.

• “Success stories,” particularly those of recent corporate headquarters that have relocated here such as Cooper Lighting and World Airways.

• Streaming video, perhaps a clip highlighting all Peachtree City has to offer prospective industries.

• Profiles of board members.

The authority decided to go into further detail in planning the Web site during a workshop at its February meeting.


		Friday, Jan. 21, 2005