Daniel Preston, the CEO of Luminati Aerospace, the firm looking to restart the aerospace industry by purchasing Riverhead Town-owned land at the Enterprise Park at Calverton, was the subject of a lawsuit in 2009 over an alleged job offer from a company offering Mr. Preston a far higher salary than he was being paid at the company he helped create, Atair Aerospace, according to court documents.
Three Riverhead Town Board members said Friday they won’t support the Luminati Aerospace sale unless changes are made.
The Town Board had planned to move forward with the $40 million sale of town-owned land at Enterprise Park at Calverton to support Luminati’s plan for building “unmanned aerial vehicles” that can beam wireless internet back to earth.
Luminati Aerospace LLC, the company in contract negotiations to purchase the remaining acreage at the Enterprise Park at Calverton, publicly displayed some of its manufacturing capabilities Friday to celebrate the reopening of a hangar at the former Grumman site and mark its intentions to rekindle the site’s aviation roots.
The Riverhead Town Board on Tuesday unanimously authorized the signing of a letter of intent to sell most of the remaining town-owned land at the Enterprise Park at Calverton, including both runways, to Luminati Aerospace LLC for $40 million.
Should the town approve a plan to lease its eastern runway in Calverton for up to 30 years to an aerospace start-up? Or should it try to renegotiate with that start-up, which could blossom into a “cutting-edge, high-technology aerospace manufacturing” company? READ