SEBASTIAN — The Sebastian City Council marked the opening of the newest addition to the Sebastian Municipal Airport over the weekend, a $1.24 million hangar next to the one currently used by LoPresti Aviation.
Several council members and a county commissioner took to a stage set up inside the hangar Saturday during Sebastian Charter Junior High’s Latin Festival to recognize the official opening of the hangar.
“This is a great taxpayer asset,” Mayor Jim Hill said. “This building is a clear example of economic development.”
The new hangar is expected to be the new home for V-Raptor, a company that creates kit planes and assists in the building of the aircraft.
Builder-assisted assembly and sales would take place at the Sebastian Airport while the manufacturing of the parts would occur off-site at the Ford Wire building located elsewhere in the city.
V-Raptor expects to create approximately 20 jobs.
The Sebastian City Council approved the construction contract for the hangar last December.
The original budget for the hangar was $1.45 million, according to city records. But the low-bidder hired to do the work said it could be done for $1.3 million – saving the city $150,000.
When the council approved the contract, council members decided to cut a planned generator, saving another $56,000.
The city received a grant from the Florida Department of Transportation that covered 80 percent of the cost. The city is used discretionary sales tax monies to provide the required 20 percent match.
