City to unload Airport shares to the County
The city of Barrie wants to get out of the airport business.
At least, Barrie council is close to seeling most of its shared in the Lake Simcoe Regional Airport.
Mayor Jeff Lehman says a plan is in the works to have the County of Simcoe purchase the bulk of the city's shares in the airport, and then pay for major expansion plans.
The airport, is cureently 60 percent owned by Barrie, and 20 percent each by the County, and Oro-Medonte.
The plan is to sell half of city shares to the county, for 4 million dollars, money that will then be put back into the airport expansion project.
This deal has to be ratified by next Monday.
For more on this story, from CTV Barrie, click HERE