Within that review of the Public Airports Act, we’re extending the leases to a maximum of 30 years. That gives them a longer period, so something more definite. We also lay out in the lease that there would always be a market value for the lease. So every five years we do a market assessment on the lease and then the individuals are advised. If there is to be an increase on the lease payment, then the lessee is advised eight months in advance of any increases. We’re hoping that this will build more certainty for the individuals that are leasing at the airport.
Tom Beaulieu on Question 595-17(5): Proposed Amendments To The Public Airports Act
In the Legislative Assembly on February 10th, 2015. See this statement in context.
Question 595-17(5): Proposed Amendments To The Public Airports Act
Oral Questions
February 9th, 2015
See context to find out what was said next.