By Laura Camper / [email protected]
The Coweta County Development Authority on Thursday heard that Hale Aircraft Inc., has decided not to settle in Coweta County after all.
About a year ago, Hale, an aircraft maintenance and engine leasing company, had announced plans to build a facility at the Newnan-Coweta County Airport. The development authority had provided $ 24,000 in incentives for the company, which had in turn promised to make a $ 5 million investment in the community and create 25 jobs.
The contract included a claw-back provision, said attorney Nathan Lee.
“The Airport Authority assures us that they never opened for business,” Lee said.
John Daviston, chairman of the Development Authority, said that the company did not meet the stipulations of the agreement and so would be responsible for refunding the entire amount of the incentives.
“My reading of the agreement is that they have to open and employ X number of people,” he said. “My understanding is that they never opened the doors up with an employee. My interpretation is that you get it all back. ”
Lee said he did not expect any problems, but would notify the members if one arose.
In other business the authority members:
- confirmed Sarah Jacobs as the new president of the authority.
- discussed types of coverage for their account at Truist Bank. The account had previously had a fraudulent check and an electronic transaction come through. The bank refunded the money for the fraudulent activities. The members decided not to purchase any of the coverages at a cost of $ 25 and $ 80 a month because the bank will refund any fraudulent transactions. The advantage would be time, since the bank requires that the defrauded account be closed and a new one opened, said Norman Lundin, treasurer for the authority.
- approved a bill of sale for airport hanger for hangar 49 to ODR. The Airport Authority owns the lot, Lee said. That’s an FAA rule, he said. So this is only for the building. The Development Authority had provided the financing for the original sale and this will not affect anything that the members did, Lee said.
- reallocated $ 8,000 in the budget to office furniture.
- heard that the Development Authority had been involved in 44 projects to date this year and had hosted 12 site visits for prospective companies. Mollie Giddens, project manager for the Development Authority, said the authority is in final negotiation stages in projects Nova and Trio. There was no further description of the projects.