Century To Foreclose On Helicopter Technologies, Take Back Lots

July 17, 2008

The Town of Century has decided to begin foreclosure proceedings against Helicopter Technologies.

After Wednesday afternoon meeting with Matt Dannheisser, the town’s attorney, the town council voted to begin the emergency foreclosure proceedings.

The company’s building in the Century Industrial Park was financed by the Town of Century in 1991 for $420,000 according to filed documents. The company currently owes the town $449,000, according to Mayor Freddie McCall.

At the council’s last meeting on July 7, the mayor told the council that Georges Van Nevel of Helicopter Technologies told him that the building would be sold to a Pensacola buyer by July 11. NorthEscambia.com learned on July 10 that the sale was off and the buyer was backing out.

McCall said that a clause in Helicopter Technologies’ contract with the town gave the town the option to “take back” three lots around the building, and he said the town would take possession of those lots.

Before the foreclosure papers are filed in the courts, the mayor said the council had authorized Dannheisser to explore a few other options. One would be an offer by Van Nevel to give the building back to the town in exchange for the town forgiving the amount he owes.

For recent stories:

Click here to read No Sale: Helicopter Technologies Building Buyer Backs Out
Click here to read Helicopter Technologies Building Might Be Sold; Town Considers Filing Emergency Foreclosure

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Written by William Reynolds · Filed Under News