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Head of area movie studio 'happy' with progress
jack shapiro
Jake Shapiro is CEO of FONU2 and Moon River Studios, which is building a studio in Effingham County.

The head of the massive movie studio complex to be built in Effingham County told members of the Effingham Industrial Development Authority that progress continues to be made on the project.

Jake Shapiro, the CEO of FONU2 and Moon River Studios, said surveying for the entrance and design of the waterline extension are under way. Architect Bill Foley of Foley Design Associates has been working with engineers Hussey, Gay and Bell on the entrance road and laying out the first phase of construction, which includes the initial workshops, mills, storage buildings and sound stages.

“We’re very happy with how everything is going,” he said. “We have been keeping them very, very busy. We have a series of scientists and engineers out there on the property.”

The design of the waterline extension is expected to be ready to be submitted by the middle of April, and Shapiro added no flood study of the property is required. Shapiro also said he has approved having the spine road into the property surveyed up to the waterline termination point. The road location and design are expected to be ready for submittal to the IDA by May 15.

“One thing we pride ourselves on with the new company is the ability to operate at the top level with whomever we’re working with,” Shapiro said. “We have great architects, great engineers, a great (general contractor).”

Under the revised development schedule adopted last fall, the studio is pegged to have its first buildings — two soundstages and its office building — completed by December.

“All we care about is getting things done,” Shapiro said. “The proof will be in the pudding. We are working with great people, great professionals, and they are doing a great job. We remain highly confident we will hit all the targets in the development plan. We may even beat some of them. Word is getting around the new team is in place and without the issues that were holding us back before. There has been tremendous progress.”

Shapiro said the master plan revision — which eliminated such items as the glass bridge and glass leaf amphitheater, along with the planned housing for the project — the master plan approval and approvals of the development plan and development of regional impact are signs of the company’s commitment.

“These are all things that never got done in a year-and-a-half and over the past X number of months have completely gotten done,” he said, “along with having Bill Foley, Hussey, Gay and Bell and Choate working together to bring it to a physical reality.”

The company also is seeking to look at its lease payments to the IDA for the property. Shapiro said an investor has stepped forward and offered to pay $500,000 to the IDA. The first lease payments are not due until February 2016. Shapiro said the payment would be an “act of good faith to show how real this project is.”

“There is real investment coming to this project,” Shapiro added. “Capital has been coming into the company. As a sign of good faith, we offered to prepay almost a year’s worth of lease payments to the IDA. We have an investor right now who has made that offer, which we think shows further strength of how Wall Street is rallying behind our team.”

IDA attorney Ted Carellas suggested having Dan McRae, the attorney who helped negotiate the original memorandum of understanding, review the proposal. Shapiro said his only concern was that McRae was not a securities attorney and has requested a full study to learn about securities. Shapiro said the company would be happy to pay for Securities and Exchange Commission-approved attorneys to the counsel the IDA.

“I do not want to be on the hook for potentially tens of thousands of dollars for attorneys to re-learn law when there’s already some already specializing in it now,” he said.

Shapiro also noted the company has brought aboard Graham Bradstreet, who had been the Medient Studios chief financial officer, as CFO. Shapiro pointed out that Bradstreet has raised more than $1 billion in structured film finance, and those movies have made more than $3 billion at the box office.

“We’re excited to have Graham back with us,” Shapiro said, “and it’s all part of the trend to bring Hollywood to Effingham County.”

Alice Neuhauser, who has overseen the construction of a 22.5-acre studio that is home to James Cameron, also has joined the fold as the FONU2 chief operating officer.

“Alice is a rock star,” Shapiro said.

The company also hopes to announce the start of production for the Penny Marshall-filmed “Effa,” the first woman inducted into the Baseball Hall of Fame. Jim Flynn, who made the final edits of “The Other Woman,” has been hired for the final cut of “Yellow,” and a national release of that film is expected later this year.

“We’re very busy,” Shapiro said.

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Record April boosts Savannah's container trade at port
GardenCityTerminal
The Port of Savannah moved 356,700 20-foot equivalent container units in April, an increase of 7.1 percent. - photo by Provided

The Georgia Ports Authority's busiest April ever pushed its fiscal year-to-date totals to more than 3.4 million 20-foot equivalent container units (TEUs), an increase of 8.8 percent, or 280,000 TEUs, compared to the first 10 months of fiscal 2017.

"We're on track to move more than 300,000 TEUs in every month of the fiscal year, which will be a first for the authority," said GPA Executive Director Griff Lynch. "We're also anticipating this to be the first fiscal year for the Port of Savannah to handle more than 4 million TEUs."

April volumes reached 356,700 20-foot equivalent container units, up 7.1 percent or 23,700 units. As the fastest growing containerport in the nation, the Port of Savannah has achieved a compound annual growth rate of more than 5 percent a year over the past decade.

"As reported in the recent economic impact study by UGA's Terry College of Business, trade through Georgia's deepwater ports translates into jobs, higher incomes and greater productivity," said GPA Board Chairman Jimmy Allgood. "In every region of Georgia, employers rely on the ports of Savannah and Brunswick to help them become more competitive on the global stage."

To strengthen the Port of Savannah's ability to support the state's future economic growth, the GPA Board approved $66 million in terminal upgrades, including $24 million for the purchase of 10 additional rubber-tired gantry cranes.  

"The authority is committed to building additional capacity ahead of demand to ensure the Port of Savannah remains a trusted link in the supply chain serving Georgia and the Southeast," Lynch said.

The crane purchase will bring the fleet at Garden City Terminal to 156 RTGs. The new cranes will support three new container rows, which the board approved in March. The additional container rows will increase annual capacity at the Port of Savannah by 150,000 TEUs.

The RTGs will work over stacks that are five containers high and six deep, with a truck lane running alongside the stacks. Capable of running on electricity, the cranes will have a lift capacity of 50 metric tons.

The cranes will arrive in two batches of five in the first and second quarters of calendar year 2019.

 Also at Monday's meeting, the GPA Board elected its officers, with Jimmy Allgood as chairman, Will McKnight taking the position of vice chairman and Joel Wooten elected as the next secretary/treasurer.

For more information, visit gaports.com, or contact GPA Senior Director of Corporate Communications Robert Morris at (912) 964-3855 or rmorris@gaports.com.

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