Another federal subsidy to the Island Airport!
Yesterday it was announced that the Island Airport will receive another subsidy from the federal government for the construction of an aircraft rescue and firefighting equipment shelter.
The airport will get $893,750 to cover the cost of the shelter, which includes the addition of an extra bay, with an exhaust system, to the existing maintenance garage and firefighting facility.
Construction will begin immediately, and the shelter is expected to be complete by the end of March 2010.
What does the total public subsidy amount to by now? This is our calculation but who knows what other money has been handed out to the airport or the Toronto Port Authority.
$ 48 million settlement with the City of Toronto for the 2002 for the transfer of land
$ 27 million from the city to the TPA for airline operations prior to 2002
$ 35 million from the federal government to the TPA for not building the bridge.
$ 52 million for PILT. This is what the city claims is owned by the TPA for taxes. This is under dispute.
$736 million from the federal government to Porter Airlines in loan guarantees.
$$893,750 from the federal govenment for aircraft rescue and firefighting equipment shelter
Grand total $898,893,750.00 How about that incentive from government!
Bill Freeman
Bill Freeman
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