A report that provides a blueprint for unlocking the potential of the Brantford Municipal Airport is being reviewed by city officials.
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The report, which was brought to council earlier this year, recommends a new terminal, additional hangars and more commercial and industrial development on the property. It also recommends the creation of a Municipal Services Corporation to govern and manage the airport.
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City staff are currently reviewing the report which is expected to come back to council for further discussion sometime in March or in April.
The report, presented to the council as a business case for the future of the airport, suggests a number of measures that could be implemented over a period of nine years.
A new 17,000-square-foot terminal at an estimated cost of $5.2 million is included in the report. The terminal could be constructed in 2025 and 2026 and financing could be covered by a short-term construction debt and a debenture or longer term debt.
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Revenue generated by the new terminal would help offset its operating and financing costs.
Several aviation-related businesses already operate out of the airport including Brant Aero, an airplane sales and service operation.
But Mayor Kevin Davis and Mark Littell, chair of the Brantford Airport Board, believe there is plenty of opportunity for growth.
“When you look at the airport, there is a lot of land on the east side of the property that is vacant,” Mayor Kevin Davis said. “It’s property that could be used for industry
“But the question is how do we finance development of those lands.”
Typically, a municipality could pay for the servicing of a property it owns through a debenture. The debenture would be paid off by the taxes generated and collected by the property.
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But while the airport is owned and operated by the city, it is located in the County of Brant. The county collects the taxes generated by the property, not the city which means the city has to find another way of financing growth.
The financing problem could be solved by changing the governance of the airport to a municipal service corporation from the airport board. The proposed change in governance has been endorsed by the airport board
A municipal services corporation would open new financing opportunities to further development and, according to the business case, decisions about the airport could be made more quickly.
The corporation would be governed by a board of directors appointed by city council.
Littell said the airport has room to accommodate more businesses and there is plenty of opportunity for growth as other airports close or change focus.
Industries searching for a new location or to relocate look at a number of factors including transportation routes, facilities and schools for their children. They also take a look at where the nearest airport is and what it offers, Littell said.
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