Toronto Port Authority Submits Funding Proposal for City Infrastructure Related to Billy Bishop Toronto City Airport
TORONTO, Jan. 24, 2014 /CNW/ - The Toronto Port Authority (TPA) advised that it has presented an infrastructure-funding proposal to the federal government for groundside infrastructure improvements at Billy Bishop Toronto City Airport under the Building Canada Fund, on behalf of the City of Toronto.
As part of its response to the City of Toronto Staff Report dated November 21, 2013, the TPA is seeking up to $100 million for improvements in City-owned infrastructure related to airport access and related vehicle traffic. City of Toronto staff, in the November 2013 report, identified certain infrastructure improvements to be a key requirement before they could provide a positive recommendation related to Porter's proposal.
"Our City partners have said that improving the existing groundside infrastructure is a key component in any eventual approval of the proposal to bring Tripartite-compliant jets to Billy Bishop. Given the continued support Torontonians have shown for the jet concept, we hope to provide as much information as possible to the parties involved over the coming weeks as they give the matter the best possible hearing," said TPA Chairman Mark McQueen of the funding proposal. "As a self-sufficient government business enterprise, the TPA's financial resources are finite, and the cost of the proposed runway extension, when combined with the airport's ongoing capital expenditure needs, is expected to consume the TPA's remaining available borrowing capacity. As such, it was necessary to apply for funding under this or other existing government infrastructure programs."
The TPA's funding proposal is a draft estimate that considers a range of future infrastructure requirements associated with waterfront improvements around Billy Bishop Toronto City Airport.
The TPA has been asked by City of Toronto Staff to attend a Public Meeting on Monday, January 27, 2014, as part of a series of public consultations on the request by Porter Airlines. The TPA will attend and participate in this meeting.
Billy Bishop Toronto City Airport welcomed more than two million passengers in 2013, generates $1.9 billion in economic output for the local economy and 5,700 jobs. The $82.5 million pedestrian tunnel infrastructure project, which the TPA launched in March 2012, is privately-financed and paid for by airport users via the existing Airport Improvement Fee, with no contribution from taxpayers.
About the Toronto Port Authority (www.torontoport.com)
The Toronto Port Authority (TPA) owns and operates Billy Bishop Toronto City Airport, the Port of Toronto (Terminals 51 and 52), and Toronto's Outer Harbour Marina. In addition to moving more than two million passengers through the airport in 2012, the Port Authority provides transportation, distribution, storage and container services to businesses at the Port, and owns and operates Toronto's largest freshwater marina. The Toronto Port Authority was incorporated on June 8, 1999 as a government business enterprise under the Canada Marine Act as the successor to the Toronto Harbour Commissioners.
SOURCE Toronto Port AuthorityFor further information:
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