Medient Studios Inc. (fka MDNT)

[BurrTim]

Here is the news I have been looking for.

http://savannahnow.com/effingham-now/2013-08-22/medient-master-plan-groundbreaking-bonuses-discussed#.UhYKHRv_lcM

Medient master plan, groundbreaking, bonuses discussed
Posted: August 22, 2013 - 12:09am

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By G.G. Rigsby
The Effingham County Industrial Development Authority approved the master plan for Medient’s movie production studio and entertainment complex, discussed plans for a groundbreaking ceremony and approved bonuses for staff members.

At their Aug. 15 meeting, IDA board members approved the master plan, which calls for a $90 million investment in phase one, including roads, utilities, a suspension bridge entrance, reception building, leaf amphitheater, main studio and outdoor shooting area.

Manu Kumaran, chairman of Medient, has said the first phase includes everything that’s needed to make movies. He has said the company expects the facility to be functional by the first quarter of 2014.

The IDA will spend $12,000 on the groundbreaking ceremonies for Medient, which are set for 11 a.m. on Thursday, Aug. 29, at the 1,500-acre site at Interstate 16 and OId River Road.

The event will include media tours of the property and air-conditioned tents.

Board members agreed to provide bonuses to IDA staff for their work in attracting Medient. If Medient produces the promised 1,000 jobs, CEO John Henry will make a bonus of $50,000 and will have an additional $25,000 to divide up among three IDA staff members.

The board also agreed that the deadline to close on the Medient deal should be extended from Aug. 19 to Aug. 28. Henry said the change will give the parties “a little wiggle room.” “It’s more complicated than we thought,” he said.

Also at its Aug. 15 meeting, the IDA board agreed to set up a formal committee to begin planning a CSX rail crossing into the 2,600-acre Research Forest site.

The committee will have two members from the IDA, two from the city of Rincon and two from the county.

Rincon City Manager Wesley Corbitt told the board that the city has had $500,000 in its budget for the crossing for two years.

“We’re really serious about getting some industry in there or some big commercial boxes in there,” Corbitt said.

Chap Bennett, vice chairman of the board, said the site could mean a great deal to the community in terms of recreation, green space and jobs creation.

“I’d be up for anything that starts that process,” he said. The site is west of Lowe’s.



Expecting more selling here as the 28th is so far away! For those with more patience nice to see that the tents will be air conditioned.