gbacon@observertoday.com
A company at the Chautauqua County Airport in Jamestown has been given the OK to reconfigure its rent payments.
During Wednesday’s legislature meeting, county lawmakers unanimously agreed to modify its lease with Luscombe Aircraft Corp. This will permit the company to increase its rent reduction credit from $500 to $1,000 to allow the company to make needed capital improvements to the hangar at the county airport in Jamestown.
The maximum amount of rent credits remains unchanged at $48,000. The company’s current contract pays the county $1,350 a month in rent. If the company claims the entire rent credit it is requesting, rent would decrease to $850 a month.
gbacon@observertoday.com
A company at the Chautauqua County Airport in Jamestown has been given the OK to reconfigure its rent payments.
During Wednesday’s legislature meeting, county lawmakers unanimously agreed to modify its lease with Luscombe Aircraft Corp. This will permit the company to increase its rent reduction credit from $500 to $1,000 to allow the company to make needed capital improvements to the hangar at the county airport in Jamestown.
The maximum amount of rent credits remains unchanged at $48,000. The company’s current contract pays the county $1,350 a month in rent. If the company claims the entire rent credit it is requesting, rent would decrease to $850 a month.
Dec 15, 2020
The Luscombe Aircraft Corp. is asking the Chautauqua County Legislature for a break on its rent for Hangar A at the Chautauqua County Airport in Jamestown.
The legislature needs to approve that request.
Luscombe’s existing lease with the county is $1,850 rent with a monthly rent credit of up to $500 a month for capital improvements, which means the company would be paying $1,350 a month. That credit is not to exceed $48,000. The company hasn’t been able to secure enough loan funding, though, to pay for the utility and building improvements necessary to renovate the county’s airport hangar into the type of space Luscombe needs. The company is asking the county to receive rent credits of up to $1,000 a month to help pay the capital improvement costs, taking the monthly rent payment to $850 a month. The maximum credit amount is still $48,000.
Dec 15, 2020
The Luscombe Aircraft Corp. is asking the Chautauqua County Legislature for a break on its rent for Hangar A at the Chautauqua County Airport in Jamestown.
The legislature should approve that request.
Luscombe’s existing lease with the county is $1,850 rent with a monthly rent credit of up to $500 a month for capital improvements, which means the company would be paying $1,350 a month. That credit is not to exceed $48,000. The company hasn’t been able to secure enough loan funding, though, to pay for the utility and building improvements necessary to renovate the county’s airport hangar into the type of space Luscombe needs. The company is asking the county to receive rent credits of up to $1,000 a month to help pay the capital improvement costs, taking the monthly rent payment to $850 a month. The maximum credit amount is still $48,000.
jwhittaker@post-journal.com
The Chautauqua County Legislature will vote next week on a proposal to accelerate rent reduction credits to an aircraft manufacturing company working to renovate Hangar A at the Chautauqua County Airport.
Members of the Public Facilities Committee on Monday approved a proposal to allow the Luscombe Aircraft Corporation to increase its rent reduction credit from $500 to $1,000 to allow the company to make needed capital improvements to the hangar. The maximum amount of rent credits remains unchanged at $48,000. The Audit and Control Committee approved the same request on Thursday.dn
The company’s current contract pays the county $1,350 a month in rent. If the company claims the entire rent credit it is requesting, rent would decrease to $850 a month.