LoPresti Wins Lease Deferral From City Of Sebastian, FL | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 11.13.17

Airborne-Unmanned 11.14.17

Airborne 11.15.17

AMA Drone Report 11.16.17

Airborne 11.17.17

Airborne-YouTube

Airborne 11.13.17

Airborne-Unmanned 11.14.17

Airborne 11.15.17

AMA Drone Report 11.16.17

Airborne 11.17.17

Sat, Jan 16, 2010

LoPresti Wins Lease Deferral From City Of Sebastian, FL

City Council Cites Potential Job Losses In Recession

The Sebastian, FL City Council has voted to defer lease payments on facilities rented by LoPresti Aviation for nine months. The council said it was concerned about the possibility of job losses during a recession.

"We hit bottom about six months ago,and are struggling like everybody else," company president Curt LoPresti told the Treasure Coast news site TCPalm. He said the company has returned its primary focus to aftermarket sales for aircraft. He estimated it would take about nine months to bring sales back to previous levels.

The vote Wednesday by the council will allow LoPresti to stop making rent payments of about $3,700 per month until November. The company leases hangar and some office space at Sebastian Municipal Airport.

Sebastian City Manager Al Minner said the rent is being deferred, not forgiven. LoPresti will have to make the payments, as well as stay current on its lease, beginning in November.

LoPresti holds a 15 year lease on a hangar that was recently built at a cost of $1.4 million. Mayor Richard Gilmore, who voted against the lease deferral, said city employees have be required to take furloughs during the recession to help the city balance its books. LoPresti said the company, which employs about 20 people, has cut some salaries, and is hoping to avoid layoffs.

FMI: www.speedmods.com, www.cityofsebastian.org

Advertisement

More News

Garmin Pilot Grows Feature Set For iOS And Android Mobile Devices

Multiple Features Added For Both Platforms Garmin has announced the addition of new features for the Garmin Pilot application for Android and iOS mobile devices. Garmin Pilot 6.2 f>[...]

AMA Drone Report 11.16.17: Drone Registration, Drone Journalists Jailed

Also: Terror Advisory, DRL Sim, SureFly Octocopter, Space Needle Drone Pilot, FAI-ASFC World Fly-In Expo A bill that includes a return to civilian drone registration has been inclu>[...]

Airborne-Unmanned 11.14.17: Drone Registration, AT&T's Flying COW, Pilot Charged

Also: Boeing Completes Acquisition, Drones For LAFD, DJI Seeks Transport Canada’s Help, Uber and NASA A defense authorization bill that includes a return to civilian drone re>[...]

Airborne 11.17.17: Cabri G2 Heli-Upgrade, NBAA/KSMO, USAF Pilot Shortage

Also: Electronic Flight Bags, SNC's Dream Chaser, flydubai Buys 225 737 MAX, Scottish Airshow Nixed The FAA has approved Service Bulletin 17-009 for the Guimbal Cabri G2 that allow>[...]

Airborne 11.15.17: XCOR BK, V-22 Osprey Milestone, GAMA 3rd Quarter Stats

Also: UK Airport Cancellation, Gone West: Robert Wagstaff, EASA Certifies Bell 505, USN's 1st MQ-4C Triton This is a heartbreaker, as we were big fans of XCOR Aerospace -- which fi>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC