Southwestern Composite Technology Corp. v. Americus-Sumter Payroll Development Authority

Phipps, Judge.

Americus-Sumter Payroll Development Authority brought this action against Southwestern Composite Technology Corporation for nonpayment of rent and other sums due under a lease.

In June 1993, Southwestern leased a building and surrounding acreage from the development authority for the purpose of operating an aerospace equipment manufacturing company. The term of the lease began in August 1993, rent payments were to commence in *343December 1995, and the scheduled termination date is in November 2013. Before rent was due, the tenant’s business became defunct, and it abandoned the…