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[SOA_Wes]

 http://www.arab-today.com/09_stories/land_purchase.htm



The City of Arab website lists the following for the CDA.
From: http://www.arabcity.org/boards.htm

Functions, duties, responsibilities :
The Arab Commercial Development Authority is established and functions in accordance with Section 11-54-170 through 11-54-192, Code of Alabama, 1975.   The Commercial Development Authority has the authority to acquire, own, and lease projects to promote trade and commerce by inducing commercial enterprises to locate new facilities and expand existing facilities.
Members :
 
Alan Bagwell, Chairman
Michael Watkins
Roger Isom
Nancy Stewart
Donald Strawn

[Common Sense]

Interesting sidebar:  Only two local banks were given the opportunity to bid on the loan for the property, Regions Bank where Nancy Stewart runs the operation and Citizens Bank where Susan Varano hangs her hat.  Mrs. Varano, a fellow church member at Gilliam Springs Baptist with the mayor, was the mayor's pick to the Alcohol License Review Board.  Citizens Bank was awarded the business. When pressed for details of the loan, Mayor Beam stated that he didn't know.  Wachovia Bank denied claims by the city that they also were given the opportunity. 

Donald Strawn passed away recently and was replaced on the CDA.

[gabby]

Does an acre of land really cost over 50K now?  It sure seems there are some back door dealings since it appears to be all setup and the public was not notified until the deed was done.    Who owns the land?   

The mayor has to prove himself and as of  now he has done a poor job. Too many secret meetings that benefit his church friends. 

[VEE]

Interesting sidebar:  Only two local banks were given the opportunity to bid on the loan for the property, Regions Bank where Nancy Stewart runs the operation and Citizens Bank where Susan Varano hangs her hat.  Mrs. Varano, a fellow church member at Gilliam Springs Baptist with the mayor, was the mayor's pick to the Alcohol License Review Board.  Citizens Bank was awarded the business. When pressed for details of the loan, Mayor Beam stated that he didn't know.  Wachovia Bank denied claims by the city that they also were given the opportunity. 

Donald Strawn passed away recently and was replaced on the CDA.

Just to set the record straight, even though I have been employed with Citizens Bank & Trust since before we opened our first offices in 2003, I have worked only on an as needed basis since 2007. My employment with Citizens Bank and Trust had nothing to do with our bank receiving this loan.  As a matter of fact, I knew nothing of it.