October 12, 2017 10:55 PM
After news that a state agency is pursuing legal action against Kestrel Aircraft, Superior city administration says it will confer with the city council to determine its future direction on a loan administered by the city.
As WDIO first reported Monday, the Wisconsin Economic Development Corporation is pursuing legal action against Kestrel, saying the company has not made a payment in nearly a year. The city says Kestrel is about $736,000 behind on its loans with the city.
The city. WEDC and Douglas County says it entered into a forbearance agreement in May giving Kestrel until August 31 to become current on its payments.
In a statement Thursday, the city said it would confer with the council to determine future direction related to the loan.
Kestrel announced plans in 2012 to establish its manufacturing and headquarters in Superior and create 600 new jobs, but that has yet to happen. Kestrel has since merged with a New Mexico company to form ONE Aviation and continues to employ about 25 people at an office in the old Superior Post Office.
After news that its lease at a Maine facility had been terminated, Kestrel said the change would have no direct affect on its Superior operations.
Updated: October 12, 2017 10:55 PM
Created: October 12, 2017 04:32 PM
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