Another New Ferry! What are they Thinking?!
The Toronto Port Authority has advertised a "Request for Expressions of Interest" for a new 200 passenger ferry.

The Port Authority is poised to spend more public money for another new ferry for Porter Air. Less than three years ago, the Port Authority spent 5 million dollars of public money on a new ferry for Porter Air passengers. Now they are preparing to do it again.

The Port Authority is mandated by law to be financially self-sufficient.   But since its establishment in 1999 it dissipated its public assets by operating losses of over $32.7 million. According to the City of Toronto, The Port Authority owes it $36.9 million in unpaid  payments “in lieu of taxes". To settle a lawsuit, the Lastman City Council bound the City to pay the Port Authority $48.6 million. And the Federal Government paid out $35 million in a settlement for a bridge that was supposed to cost $22 million. Porter Air received 20 million of the settlement –ostensibly to compensate it for not being able to start up its airline. 
 
Add it up:  $153.2  million of public money has gone to propping up the Port Authority and to subsidize Porter Air.   Now they intend to spend even more. 

“If Porter wants a new ferry, it should be paying for it – the Canadian and City taxpayers have paid far too much already to support Porter’s business, and subsidize a Port Authority that has no accountability to the people of Toronto”, said Brian Iler, chair of CommunityAIR.