EXTRA Loan Delayed

Mar 28th @ 6:17 am in News by Scott Staley

EXTRA Aircraft logo

MONTROSE- EXTRA Aviation needs to obtain type certification on the 500 series aircraft it hopes to build in Montrose before the state can approve a $1.02 million Community Development Block Grant Loan. The Daily Press says the state also needs clarification on other details in the proposal, and tabled its decision regarding the loan until those details are provided. The loan requires a 100% match and MEDC was going to sell two of its off-airport parcels to come up with the money. Now, MEDC will pass on its two lots to EXTRA and a private investor will lend the $1.5 million. EXTRA publically announced last July they selected Montrose to be their U.S. Headquarters. The German company builds several types of private planes.
Source: Daily Press