It's official. Finally.
The Town of Collingwood issued a media release today announcing the sale of the Collingwood Regional Airport to Winterland Developments Ltd. officially closed on Friday.
Town Council approved the sale at the Thursday, February 28, 2019 Council Meeting.
“We look forward to the investment and growth that Winterland Developments Ltd. will implement at the Collingwood Regional Airport,” Mayor Brian Saunderson said in a statement. “A flourishing airport will have a positive impact on our region.”
Collingwood council held a closed meeting Feb. 28 to hear a “revival” deal offered by Winterland for the airport and approved the deal - though not unanimously - immediately after the meeting.
The town initially announced it was selling the airport to Winterland on Aug. 2, but after several delays, the final deadline of Jan. 23 passed and the deal was dead.
Winterland proposed a revival deal and Collingwood CAO Fareed Amin delivered a counter offer.
The result was a proposal from Winterland to buy the airport for $4.1 million, same as the first offer, but this time the town will hold $300,000 in trust with lawyers to “facilitate resolution of any dispute” related to operating agreements.
During the last sale process, the owners of Genesis Flight College filed a lawsuit against Winterland and the Town of Collingwood claiming their existing agreement allowing them access to the runways was not being honoured.
“At the end of the day ... we’re trying to alleviate the cost expense for our taxpayers while at the same time giving this airport the opportunity to grow and thrive as we all want it to do.” Saunderson said Feb. 28.
“I believe the substance of this agreement, given the hurdles that we encountered last time, is what’s in the best interest of our taxpayers and hopefully all the tenants of the airport.”
In a recorded vote, only Councillor Steve Berman was opposed to the sale. Councillor Bob Madigan was not at the council meeting and therefore did not vote.
