2012 2013A N N U A L R E P O R TA N N U A LU A LLLLLLL U LLAAN NAA

Oyster Bamboo Fly Rods, Blue Ridge

&

Randy CardozaPrincipal

Cardoza Consulting

Bo ChanceOwner

J. Chance Investments

Pedro CherryVice President, Community & Economic

Development, Georgia Power

Gretchen CorbinCommissioner, Georgia

Department of Community Affairs

Cathy CoxPresident

Young Harris College

Bill FloydProject Director

The Pendleton Group

John HardmanVice PresidentGeoFields, Inc.

George T. Heery, Jr.Founding Partner

Sotheby's International Realty

Walter R. Huntley, Jr.Senior Vice President, CHA Inc.

Eric JohnsonPresident

HGBD International

Ross KingExecutive Director, Association County

Commissioners of Georgia

Emory MorsbergerPresident, Stone Mountain

Community Improvement District

Paul SeefriedProject Manager

Seefried Properties

Shelton g. StanfillPrincipal, SgS Ltd.

Jimmy TallentPresident and CEO

United Community Bank

PresidentMichael L. Starr

Retired-Executive Vice President Wachovia Bank

Vice PresidentPam Sessions

Founder and Co-Owner,Hedgewood Properties, Inc.

Secretary/Treasurer Lamar Norton

Executive DirectorGeorgia Municipal Association

Managing Director Perry Hiott

Director, CommunityDevelopment

Georgia Municipal Association

Foundation Board of Directors as of April 1, 2014

Building Public-PrivatePartnerships to Revitalize Georgia’s Downtowns

Mike Starrfrom the president

2012 Loans 8 Revolving Loan Fund (RLF) loans totaling $1,126,979

4 Green Communities Fundloans totaling $382,767

2013 Loans7 Revolving Loan Fund (RLF) loans totaling $1,123,017

1 GCF – SSBCI loan totaling $70,000

GCF Loan History*A

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d

Year

2012Georgia Power Foundation: $50,000Kirbo Charitable Trust: $50,000AGL Resources Private Foundation: $2,500

2012 Total: $102,500

2013Callaway Foundation: $50,000Peyton Anderson Foundation: $75,000Georgia Power Foundation: $25,000AGL Resources Private Foundation: $2,500

2013 Total: $152,500

Since 2002, the GeorgiaCities Foundation hasprovided loans totaling$15.7 million** Does not include

loans provided by DCA

New Businesses in Downtown Area: 222

New Housing Units: 185

Private Investment: $79.6million

Funded Projects: 93(as of 12/31/2013)

*Doe

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loan

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CA

New Jobs in Downtown Area: 1,121

Georgia Cities Foundation Highlights

GCF Financial Programs:

GCF Loan Program Summary – As of December 31, 2013

State Small Business Credit Initiative(SSBCI) Program

In April 2012, the Georgia Cities Foundation wasapproved as a lender for the State of Georgia’sState Small Business Credit Initiative (SSBCI).Funded through the federal Small Business Jobs Actof 2010, SSBCI is a $1.5 billion initiative designedto strengthen state lending programs that supportsmall businesses and manufacturers. The State ofGeorgia was allocated almost $48 million throughSSBCI, with three programs being approved: 1)Georgia Funding for CDFIs; 2) Georgia SBCG, orSmall Business Credit Guarantee; and 3) GCAP(Georgia Capital Access Program).

As a non-depository Community DevelopmentFinancial Institution (CDFI), the Foundation has participated as a lender in the Georgia Funding for CDFIs program, which is designed to provideaccess to capital to small businesses to create jobopportunities in low-to-moderate income, minority,and other underserved communities. As ofDecember 31, 2013, the Foundation had providedloans and loan commitments totaling $600,815through its GCF-SSBCI loan program.

2012• GCF approved as a lender for the State of

Georgia’s State Small Business Credit Initiative(SSBCI), funded through the federal SmallBusiness Jobs Act of 2010.

• GCF partners with the Georgia MunicipalAssociation (GMA) and the University of Georgia to establish the Georgia DowntownRenaissance Partnership and develops three pilot programs designed to help cities and local leaders focus on the importance of downtown planning and visioning.

2013• GCF reaches the $15 million level in total loans

provided through its RLF program.

• GCF closes its first SSBCI loan for the Port CityDeli project in downtown Bainbridge.

Green Communities Fund (GCF2)

State Small Business Credit Initiative (GCF-SSBCI)

Provides low-interest financing for acquisition/rehabilitation/in-fill

construction of downtown buildings.

Provides access to capital through low-interest financing for small businessesin order to create job opportunities in

underserved communities.

Provides low-interest financing foracquisition/rehabilitation/in-fill con-struction of downtown buildings.

Revolving Loan Fund Program (RLF)

GCF RLFProjects

GCF RLF Loan Amounts

GCF-SSBCIProjects

GCF-SSBCILoan Amounts

GCF2 Projects

GCF2 Loan Amounts

9395

107

$15,735,324$1,612,197$860,515

$18,208,036

1225

$70,000$530,815$276,000$876,815

152118

$1,464,446$159,301$31,074

$1,654,821

Loans ClosedLoan CommitmentsApplications under ReviewTotals

Many of the Georgia CitiesFoundation’s Revolving LoanFund (RLF) loans are for projectsrequiring complex financingstructures. One example is TheBaldwin, a mixed-use project indowntown Milledgeville. Thisbuilding rehabilitation projectcreated two new commercialspaces and 15 residential loft apartments indowntown Milledgeville.

This building, which was constructed in 1903and formerly housed a department store, is locat-ed in the heart of Milledgeville’s downtown area,between Georgia College and Georgia MilitaryCollege. The project’s developer originally plannedto develop a boutique hotel in the building, but theGreat Recession prompted him to consider otheropportunities for the building.

This project is a prime example of how financ-ing programs can be layered to fund a downtownproject. In addition to bank financing, the devel-oper utilized a variety of public and non-profitfinancing programs, including the Georgia Cities

Foundation’s Revolving Loan Fund andGreen Communities Fund (for energyefficiency improvements) programs, theGeorgia Department of Community

Affairs’ Downtown Development Revolving LoanFund (DD RLF) program, and the RedevelopmentFund program, which is also administered byDCA. Additionally, the developer obtained stateand federal historic preservation tax credits, whichwere sold and used as equity for the project. Thedeveloper also received approximately $15,000 inrebates for the purchase and installation of ener-gy-efficient appliances within the project.

Bank Financing $1,277,500

Redevelopment Fund Loan $500,000

GCF Loan $250,000

DCA DD RLF Loan $250,000

Green Communities Fund Loan $150,000

Tax Credits $759,448

Developer Equity $358,965

Total $3,545,953

The Baldwin, MilledgevilleFeatured Project

BEFOREPHOTOS

Georgia Cities Foundation

2012-2013 Loan Projects

Featured Project

Oyster Bamboo Fly Rods, Blue Ridge

The investments that the Georgia Cities Foundation helps tofinance often include owner-operated small businesses.Oyster Bamboo Fly Rods, which manufactures high-endcustom bamboo fly rods, began as a home-based businessin 1998. As the business grew, the owners leased commer-cial space in downtown Blue Ridge for their operations,which included manufacturing (bamboo fly rods), retail (flyrod sales), and workshop space (the owners conduct fly rod-making workshops one week each month). The ownerseventually outgrew their leased space and began looking fora suitable location to construct a new facility for their busi-ness. They also wanted to construct guest rooms to housetheir workshop participants and other guests.

In 2012, the owners purchased a vacant lot on East MainStreet in downtown Blue Ridge and constructed a three-story infill building which now houses Oyster Bamboo FlyRods, the Cast and Blast Inn, which contains four guestrooms, and leasable commercial space on the basementlevel. The Georgia Cities Foundation provided a $160,000RLF loan for this project, which had a total project cost of$597,500.

Bank / Private Lender Financing $340,000

GCF Loan $160,000

Developer Equity $97,500

Total $597,500

Blue Ridge – Korzep BuildingIn February 2012, the Foundation provided a$176,000 loan to the Fannin CountyDevelopment Authority to partially financethe construction of an infill building at 524Main Street and 53 Roberts Way in down-town Blue Ridge. The completed projecthouses three commercial spaces. The totalproject cost is $530,000.

Georgia Cities Foundation

2012-2013 Loan Projects

Macon – 377 Cotton AvenueIn December 2012, the Foundationprovided a $150,000 loan to theMacon-Bibb County UrbanDevelopment Authority for therehabilitation of a commercialbuilding located at 377 CottonAvenue in downtown Macon. TheAuthority provided a simultaneousloan to 377 Cotton, LLC, the pro-ject’s developer. The completedproject now houses one commer-cial space, six residential units,and twenty-one mini-storageunits. The total project cost is $710,000.

Bainbridge – Crave Eatery ProjectIn February 2012, the Foundation provided a $79,800loan to partially finance the acquisition of a commercialbuilding located at 310-312 East Water Street in down-town Bainbridge. The completed project houses arestaurant named Crave Eatery. The total project costis $133,000.

Augusta – 566 Broad Street ProjectIn April 2012, the Foundation provided a $105,931loan to the Downtown Development Authority ofAugusta to partially finance renovations to a com-mercial building located at 566 Broad Street inAugusta. The completed project now housesleasable space for a restaurant, Café 209, as wellas five leasable commercial/office spaces. Thetotal project cost is $264,829.

Fitzgerald – 121 & 123 East Pine StreetIn January 2012, the Foundation provided an$80,000 loan to the Downtown DevelopmentAuthority of Fitzgerald to partially finance the acqui-sition and rehabilitation of a dilapidated buildinglocated at 121 & 123 East Pine Street in downtownFitzgerald. The completed project now houses3,600 square feet of street-level commercial spaceand an 1,800 square foot upper-level residentialapartment. The total project cost is $223,608.

Dawsonville – Dawsonville MoonshineDistillery ProjectIn July 2012, the Foundation provided a $107,468loan to the Dawsonville DDA for renovation/equipmentof a commercial space in downtown Dawsonville. Thecompleted project houses the Dawsonville MoonshineDistillery. The total project cost is $268,671.

Augusta – 1151-1155 Broad StreetIn December 2012, the Foundation pro-vided a $193,780 loan to the AugustaDDA for the rehabilitation of a commercialbuilding located at 1151-1155 BroadStreet and 1130 Jones Street in down-town Augusta. The DDA provided asimultaneous loan to 1151 Broad Street,LLC, the project’s developer. The com-pleted project now houses four residentialapartments and 2,400 square feet ofimproved commercial space. The totalproject cost is $484,452.

Sylvester – Hal Carter ProjectIn June 2013, the Foundation provided an $80,000 loan tothe Sylvester DDA to partially finance the acquisition of sixneglected commercial buildings in downtown Sylvester. Thecompleted project will house leasable commercial spaces.The total project cost for acquisition is $120,000.

Augusta – 834 Greene StreetIn September 2013, theFoundation provided a$250,000 loan to theAugusta DDA for the reha-bilitation of a historic build-ing located at 834 GreeneStreet in Augusta. Thecompleted project housessix residential apartments.The total project cost is$716,370.

Hapeville – SlidewaysIn September 2013, the Foundation pro-vided a $60,000 loan to the HapevilleDevelopment Authority to partially financeleasehold improvements and equipmentat a commercial building located at 760 S.Central Avenue in downtown Hapeville.The completed project houses a newrestaurant, Slideways. The total projectcost is $476,694.

Hapeville – 601-603 N. Central AvenueIn March 2013, the Foundation provided a $182,017 loan to theHapeville Development Authority to partially finance the the reno-vation of a commercial building located at 601-603 North CentralAvenue in downtown Hapeville. The completed project housestwo commercial spaces. The total project cost is $455,042.

Ellijay – 24-28 River StreetIn March 2013, the Foundation provided a$125,000 loan to the Ellijay DDA to par-tially finance the renovation of a commer-cial building located at 24-28 River Streetin downtown Ellijay. The completed proj-ect houses a restaurant and leasablecommercial space. The total project costis $675,000.

Dahlonega –McGuire House In December 2013, GCF provid-ed a $250,000 loan to theDahlonega DDA to partiallyfinance the renovation of thehistoric McGuire House buildingand to construct an adjoiningbuilding on the property locatedat 135 North Chestatee Street indowntown Dahlonega for use asa special events facility and a13-room hotel, the DahlonegaSquare Hotel. The total projectcost is $700,000.

The Georgia Cities Foundation has conducted a

bus tour every year since 2001 as part of an overall

effort to educate and inform state agency heads,

business leaders, downtown developers and

philanthropists of the importance of successful

In 2012, the bus tour traveled to Dublin, Sylvania,

Statesboro, Hinesville, Jesup, St. Marys, Savannah, and

Metter, where participants learned how public invest-

ment can often spur private investment in many down-

town areas.

2012

downtown development and its role in supporting

overall economic development efforts for commu-

nities and regions. Attendees see first-hand how

successful public-private partnerships create

thriving downtowns and vibrant communities.

In 2013, the bus tour traveled to Eatonton, Milledgeville,

Macon, Hawkinsville, Columbus, West Point, LaGrange,

Carrollton, and Newnan, where participants learned

how loft housing, higher education, and tourism can be

used to revitalize many downtown areas.

2013

Cartersville property owner John Lewishas been selected as the recipient of theGeorgia Cities Foundation’s “RenaissanceAward.” Lewis, who has restored morethan 30 offices and buildings in down-town Cartersville, accepted the award atthe Georgia Municipal Association’sAnnual Convention in Savannah onSunday, June 24.

The Renaissance Award recognizes anindividual or organization that has made asignificant contribution to the revitaliza-tion of one or more of Georgia’s cities.Lewis, who was nominated by the city of Cartersville, hasserved as a catalytic preservationist for downtownCartersville for the past decade. His redevelopment work inCartersville has inspired other downtown property owners todo the same.

Over the last 10 years Lewis has revitalized more than 25percent of the buildings in the downtown historic businessdistrict, an effort that is credited with the creation of morethan 100 new downtown jobs.

More than just a property owner andpreservationist, Lewis has maintained alive, work, play vision of downtown thatincludes recruiting specific businessesneeded in downtown, mentoring newbusiness owners, working with theEtowah Valley Historical Society to recognize outstanding contributors topreservation efforts, assisting with a bi-annual tour of homes, and researchinghistories of each downtown property sohe could place “year established” sig-nage on each building. Lewis also pro-

vided research and funding to support the addition of thedowntown area to the National Register of HistoricalPlaces.

“John Lewis’ footprint can be seen all over downtownCartersville,” said Georgia Cities Foundation PresidentMike Starr. “His hard work in the areas of historic preser-vation and downtown development has helped transform aonce sleepy downtown Cartersville to a shopping, diningand cultural destination.”

Renaissance Award 2012 John Lewis

Renaissance Award 2013

Congratulations

The Thomas M Kirbo and Irene B KirboCharitable Foundation has been selected asthe recipient of the Georgia CitiesFoundation’s 2013 Renaissance Award.Foundation representative Lillian KirboAnsley of Atlanta accepted the award at theGeorgia Municipal Association’s AnnualConvention in Savannah on Sunday, June 23.

The Thomas M Kirbo and Irene B KirboCharitable Foundation has played a leadingrole in the ongoing story of downtownBainbridge redevelopment. It has con-tributed approximately $800,000 to down-town Bainbridge projects, an investmentthat has spurred job growth, sustained theintegrity of historic buildings and helped to create a visionfor future projects.

The Foundation’s involvement in downtown Bainbridgeincludes providing a $125,000 matching grant for therestoration of the former Bainbridge City Hall andFirehouse, which now serves as Bainbridge’s culture center,home to the Bainbridge-Decatur County Council for theArts, the Decatur County Artists’ Guild, and the A to Z chil-dren’s boutique.

The Foundation also contributed $200,000 to the Water

Street redevelopment project, creatinga revolving fund that allows theDowntown Develop-ment Authorityto purchase, rehabilitate and then sellWater Street properties as theybecome available. Now boastingoccupied condos, offices, restaurantsand retail outlets, Bainbridge’s’ WaterStreet bustles as it once did in theearly part of the 20th century.

Additionally, the Foundation hasgenerously donated funds to theBainbridge Connectivity Project andthe Bainbridge Little Theater and pro-vided for a $50,000 grant to the

Georgia Trust for Historic Preservation, specifically to helpspur the redevelopment of downtown Bainbridge’s BroadStreet Corridor.

“Without question, the Thomas M Kirbo and Irene BKirbo Charitable Foundation has been an instrumental playerin turning downtown Bainbridge into a vibrant place to live,work, dine, and play,” said Georgia Cities FoundationPresident Mike Starr. “They have also been financial andpersonal supporters of the work of the Georgia CitiesFoundation, extending their reach well beyond Bainbridge.”

Thomas M. Kirbo and Irene B.Kirbo Charitable Foundation

Lillian Kirbo Ansley and Mike Starr

John Lewis and Mike Starr

The Georgia Cities Foundation honored longtime board member Juanita Jordanwith its inaugural President’s Award on June 24, 2012, during the GeorgiaMunicipal Association’s Annual Convention in Savannah.

Ms. Jordan retired as President of the Peyton Anderson Foundation in Maconafter serving the organization for more than 22 years. Additionally, she served onthe Georgia Cities Foundation’s Board of Directors since its inception in 1999.

Georgia Cities Foundation President Mike Starr lauded Jordan as a tirelessadvocate of Georgia cities and their downtown areas.

“Under her capable leadership, the foundation that she has managed for morethan two decades has invested more than $60 million in projects designed tostimulate investment, encourage quality development and improve lives andenhance the communities of Middle Georgia and the state,” Starr said. “Ms.Jordan is widely regarded as both the visionary and the architect of many of thesignificant projects that are changing the quality of life in Middle Georgia, includ-ing several projects in downtown Macon.”

As Jordan was unable to be in Savannah for the GMA convention, acceptingthe award on her behalf was Peyton Anderson Foundation incoming PresidentKaren Lambert.

Accepting the award on her behalf wasPeyton Anderson Foundation incomingPresident, Karen Lambert.

Juanita Jordan

Georgia Cities FoundationHonorsJuanita Jordan

Pilot ProgramsPilot Programs

In 2011, a Special Downtown Development Task Force co-chaired byLieutenant Governor Casey Cagle and Georgia Cities Foundation PresidentMike Starr recommended the creation of a Downtown Capacity BuildingPartnership, which has been named the Georgia Downtown RenaissancePartnership.

The Partnership, consisting of the Georgia Municipal Association, the GeorgiaCities Foundation, and the University of Georgia, working in cooperation withthe Georgia Department of Community Affairs and the Georgia DowntownAssociation, has been established to help cities and local leaders focus on theimportance of downtown planning and visioning. The Partnership seeks toserve as the cornerstone in helping create locally developed plans that are sup-ported by both elected officials and the business community.

During 2013, the Georgia Downtown Renaissance Partnership developed thefollowing pilot programs to assist cities with downtown strategic visioning,planning, design and technical services:

Renaissance Strategic Visioning & Planning (RSVP) Program: Thisprogram assists cities in creating an initial vision and short-term workprogram for their downtown areas. Pilot cities in 2013 includedBainbridge, Cairo, Cedartown, and Perry.

Downtown Renaissance Fellows Program: Through this program, anundergraduate landscape architecture student at UGA was assigned toeach of the pilot cities of Gainesville, Milledgeville, and Porterdale dur-ing the summer of 2013 to provide technical and design services. Thepilot cities provided positive feedback regarding the quality of workthey received through this program.

Downtown Renaissance Planning & Design Practicum: The Planning &Design Practicum, which is being offered at the University of Georgiaduring the 2014 spring semester, will assign ten landscape architectureand environmental planning students to work with selected cities onidentified downtown projects.

Georgia Downtown RenaissancePartnership Pilot Programs Underway

P.O. Box 105377Atlanta, Georgia 30348

Phone 404.688.0472www.georgiacitiesfoundation.org