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 07.25.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.25.14 **
** Airborne 07.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.23.14 **
** Airborne 07.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 07.21.14 **

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

It's Turbo Time! AeroVee Turbo Orders Now Accepted

Will Offer Significant Performance Boost For Sonex Aircraft Sonex Aircraft announced at a press and customer briefing Sunday morning that orders are now being accepted for the long>[...]

There's A New Light Sport Amphib Coming To The Block

MVP.Aero Introduces What It Calls The Worlds 'Most Versatile Plane' A new sport plane that is designed to operate from runways, water, and snow and ice was introduced Sunday aftern>[...]

Historic OSH2014 Sponsor: Bendix-King by Honeywell

OSH2014 Sponsor: Bendix-King by Honeywell The history of the Bendix name runs parallel to the development of King Radio until the mid-1980s, when the Allied Corporation purchased B>[...]

Revolutionary OSH2014 Sponsor -- Aviation Modifications Leaders

Aviation Modifications Leaders -- Unique Solutions For Critical Applications During two decades of designing, engineering and installation of Satcom systems with Honeywell (Allied >[...]

OSH2014 Sponsor: 'Super-App' ForeFlight

LONG-TIME ANN Sponsor, ForeFlight, Provides GREAT Guidance For Oshkosh 2014! ForeFlight was founded in 2007 by aviation entrepreneurs who set out to build elegant, high-performing >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC