SPCV25-01392-MI, Objection to Validation of Municipal Bonds – Forsyth Commons Parking Garage Project
On Tuesday November 4 at 8:45 AM, Judge Lisa Goldwire Colbert Judge Christopher Middleton will hear the matter of the flawed intergovernmental bond to construct the $35MM underground garage in a flood zone. The hearing will occur at the new Gadsden Courthouse, 400 West Oglethorpe Avenue, court room 3A 4B (3rd 4th floor). Our apologies for such late notice. We were only made aware of the proceedings a couple days ago.
Image from Savannah Morning News
Please sign the attached letter, which will to be presented to Judge Colbert. In addition, the law allows any citizen of Chatham County, Savannah to become party to the proceedings at or before the time set for the hearing. Most of all, if you are able to attend to simply witness the proceedings, your solidarity and presence would be appreciated. The Savannah community challenging an intergovernmental bond appears unprecedented. Please sign TODAY!
What are some of the flaws of the bond?
1. Procedural Impropriety
The Bond Parameters Resolution adopted on October 14, 2025 was passed following an improperly closed executive session in violation of Georgia’s Open Meetings Act (O.C.G.A. § 50-14-1). Members of the public were excluded while private developers and counsel were permitted to remain. Such action renders the resolution non-binding and any subsequent bond validation premature.
2. Violation of the Development Agreement
The Amended and Restated Development Agreement (Aug. 14, 2025) requires all zoning and building approvals before bond issuance. However, the property remains subject to ongoing rezoning litigation, and material misstatements regarding the site’s flood-zone classification (Zone AE) invalidate the procedural basis for bond approval.
3. Circumvention of the Public-Private Partnership Act
Evidence suggests the City, SEDA, and the Developer collaborated to bypass the competitive procurement requirements of Georgia’s 2015 Public-Private Partnership Act (O.C.G.A. § 36-91-110 et seq.) by disguising a sole-source construction award as a “Pilot Request Letter.” This collusive process constitutes a potential restraint of tradeunder O.C.G.A. § 16-10-22.
4. Misrepresentation of Tax-Exempt Status
Financial projections indicate that over 70% of garage revenues would derive from private tenant parking, contradicting representations that no more than 10% of the project would serve private use. The Bonds therefore cannot lawfully qualify as tax-exempt, raising potential federal securities law concerns.
5. Lack of Oversight and Public Accountability
The project eliminates standard performance audits, allows issuance of additional parity bonds without bondholder notice, and involves parties accused of misrepresentation and conflicts of interest. These facts demand heightened scrutiny before any validation proceeds.
Please add your name and sign TODAY. Please attend on Tuesday if your schedule allows. Please be in the courtroom and seated by 8:45 for the proceedings will begin at 9:00 AM. Entrance to the courthouse does require going through security metal detectors.
Thank you!