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Edmonton plans $80M buyout of city airport

02-10-2012

This time next year, Edmonton’s City Centre Airport could be closed for good to make way for new homes and a shopping mall if city leaders get their way. The city set aside $80 million Canadian Dollars (about $81.5 U.S. Dollars) to buy out the 200 people and businesses with an interest at the airport. That includes FBOs, flight schools, repair shops and other businesses based at the general aviation airport just north of downtown Edmonton. The city’s international airport about 10 miles south of the city took over all remaining airline traffic in 1995 from City Centre airport, setting up the smaller airport’s closure. But the Edmonton Flying Club could block the city’s plans with an $18 million lawsuit, claiming that it has a lease to use the airport through 2028. The flying club got the nod from a court last week to seek an injunction against the city, which would put airport shutdown plans on hold, at least temporarily.

http://www.edmontonjournal.com/business/Expropriation+City+Centre+Airport+cost+million/7269210/story.html