PHI MRO Services has leased a Bell 407 helicopter to New York Helicopter, marking a significant expansion for both companies. The helicopter, equipped with floats, air conditioning, and a custom paint scheme, will allow New York Helicopter to expand its tour and charter services in the New York area.
After nearly 50 years, the Citadel Theatre’s lease with the City of Edmonton will expire in September. The city will assume responsibility for the building and its maintenance, which could cost tens of millions of dollars. The non-profit Citadel has been operating and maintaining the building since 1976 but has leased the land from the city. Under the original agreement, the city becomes responsible for the building once the lease expires at the end of September. While the Citadel would continue to handle daily operations, the city would be responsible for capital renewal, repair, and maintenance. The theater estimates it will need $375,000 for tools and other items and an additional $1.36 million each year for operating-funded repair and maintenance. Capital renewal costs over the next decade are estimated at $56.2 million and $131 million over the next 25 years. If no new lease is signed, the city estimates the building would cost around $800,000 per year to own. The proposal for a new lease will require approval from the city council, which could happen later in May, with the new lease being implemented in October.
