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

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 06.29.15

Airborne 06.23.15

Airborne 06.24.15

Airborne 06.25.15

Airborne 06.26.15

Airborne Hi-Def On YouTube

Airborne 06.29.15

Airborne 06.23.15

Airborne 06.24.15

Airborne 06.25.15

Airborne 06.26.15

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

Airborne 06.26.15: UAV Pilot Exonerated, WTC Base Jumpers Acquitted, AeroWatch

Also: Pilot Record, Barnstorming, Pan Am Sim, New Columbus PD Unit, Erickson Firefighters, UAV Insurance Flts, Quest Upgrades David Beesmer had been arrested in 2014 after capturin>[...]

Aero-News: Quote Of The Day (06.29.15)

“SpaceX has demonstrated extraordinary capabilities in its first six cargo resupply missions to the station, and we know they can replicate that success. We will work with an>[...]

Klyde Morris (06.29.15)

Klyde's A Little Down (And More Than A Little Opinionated) Over The SpaceX Loss.... FMI: www.klydemorris.com>[...]

Updated: A Sorry First -- Falcon 9 Launch Fails Just Prior To Staging

Catastrophic Vehicle Failure Comes Just As Confidence in System Soared ANN REALTIME Update, 1152 ET, 06.28.15: Elon Musk has tweeted the following... "There was an overpressure eve>[...]

NASA's Bolden Comments On SpaceX/CRS-7 Loss

NASA Administrator Notes Other Resupply Efforts On Schedule The following is a statement from NASA Administrator Charles Bolden on the loss Sunday of the SpaceX Commercial Resupply>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC