dowlingm said:
If anything, hasn’t Pearson been seen as a cash cow for the Feds?
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In the sense that Ottawa charges GTAA "rent", yes. But how that rent matches financing charges for future capital heeds, plus past capital expenses that are still being amortized, is another question.

- Paul
 
Yes, fed/Ontario governments could build it. Feds have generally had a policy of not subsidizing the largest Canadian airports for many decades. Contributing to a terminal would go against that long-term policy. You have likley noticed above that the money flows the other way, from the airport is a source of revenue to the federal government..

Unless you’re in Montreal I guess…
Montreal airport project secures $90-million in federal funding
 
dowlingm said:
If anything, hasn’t Pearson been seen as a cash cow for the Feds?
Click to expand...

4613 acres with a value of about $1.5M/acre (industrial/commercial zoning in Mississauga) gives Pearson a vacant land value of about $6.9B. Not all of that is actually usable due to wetlands plus roadway allowances if built out so lets say $5B. At $170M/year for the lease that gives them a cap rate of 3.4% which is inline with expectations for commercial property (3% to 3.5%).

So, from an investment point of view of direct revenue only it's good but not exceptionally good. It's in-line with what a private land owner would expect to receive.

Of course, indirect revenue through taxes on GDP growth enabled by Pearson existing are considerable.
 
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Jimvee said:
Yes, fed/Ontario governments could build it. Feds have generally had a policy of not subsidizing the largest Canadian airports for many decades. Contributing to a terminal would go against that long-term policy. You have likley noticed above that the money flows the other way, from the airport is a source of revenue to the federal government..

Unless you’re in Montreal I guess…
Montreal airport project secures $90-million in federal funding
Click to expand...

That's an interest bearing loan.
 
Managed to catch the LR 1600 crane hoisting the bottom half of the TBM shield out of the shaft this afternoon, unreal to watch!

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Little update on construction at the Scarlett Portal:
Both TBM's have been fully removed, and concrete has been poured for the floor of the portal
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View of the completed roof of the portal just behind the headwall of the ramp
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Retaining wall for the ramp section is continuing along, with an impressive amount of scaffolding to hold up the workers' platform
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As well, Metrolinx sent out a construction notice about fence installation along Eglinton from Scarlett to Fergy Brown Park
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