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IDA authorizes payment plan for Dominican Magic delinquent pilot payments
2845362 · March 13, 2025
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Summary
The Mount Vernon IDA approved a temporary payment schedule with Dominican Magic to recover past-due pilot payments; the agreement preserves penalties and includes a balloon payment next year.
The Mount Vernon Industrial Development Agency voted to authorize a temporary payment schedule to help Dominican Magic repay past-due pilot and administrative fees while preserving the agency's right to claw back benefits if the owner fails to meet the schedule.
Staff reported that Dominican Magic had been…
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