Stephenville council votes to funnel $32K a month to airport, until sale process is done
Mayor says court date set to resolve historic insolvency, and clear way for transfer
The Stephenville town council is again making cash contributions to keep the local airport running, as the finalization of a deal to sell the operation drags on.
But now, Mayor Tom Rose says there is progress: a court date set for next month to resolve a long-running insolvency proceeding at the airport.
Rose says that will clear the way for the acquisition to be completed.
"We've been doing it really on our backs and taxpayers' backs, but now somebody else will do it after April 12," the mayor said at the town's public council meeting on Thursday night.
Council voted to approve monthly contributions of $32,500 to the Stephenville Airport Corporation.
"We're pretty well at the end of the road for the contribution of the town, but we're not there yet," Rose said. "We're very, very close, probably just a month away."
The town can end the arrangement, with 30 days notice.
And Rose says those council contributions will stop when the deal is done.
"So once this transfers, we don't have to give any more money to keep the lights on," Rose said. "That's somebody else's responsibility."
Coun. Lenny Tiller cast the only vote against, saying it could lead to taxes being raised or expenditures being cut.
"We have done our part for 20 years, of keeping this place open," Tiller said.
"We've done our part, in the last year and a half."
In September 2021, Ottawa businessman Carl Dymond announced his intention to buy the airport, spend hundreds of millions in private money, and create thousands of jobs.
- CBC INVESTIGATES | He has a $500M plan for an N.L. airport. But his companies and finances have faced turbulence
- CBC INVESTIGATES | Mystery man, mystery plan: Questions abound on Stephenville airport acquisition
His plans include a manufacturing facility for giant futuristic cargo drones, and the return of scheduled commercial passenger service to Stephenville.
A series of previous deadlines and timelines for the sale to be finalized have come and gone.
ABOUT THE AUTHOR
