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 Authority
For further information:
Tel: (416) 863-2075