Georgian Bluffs has reached an agreement to sell the Wiarton Keppel International Airport.
The township issued a news release on Thursday saying the deal is expected to close on Dec. 17, 2021. The sale price and the buyer have not yet been disclosed.
The release from the township says “more information will be released to the public” once the transaction closes next month, including the sale price, transition process and purchasing party.
“Council acknowledges the value of this asset to the community and will prioritize release of information once the agreement is finalized. We appreciate the public’s interest in this matter and their patience as council moves through the sale process,” says Georgian Bluffs Mayor Dwight Burley in a statement.
Georgian Bluffs council declared the airport surplus in September and accepted purchase offers for it until Oct. 14. The township purchased the property and its facilities from South Bruce Peninsula in 2015 for $600,000.
Last month, Georgian Bluffs’ Director of Finance Kassandra Rocca told councillors the township has spent about $2.4-million of taxpayers funds for operating and capital expenses since it took over ownership of it.
She also estimated selling the airport could result in at least $8.7-million in cost savings for Georgian Bluffs over the next five years. Most of the looming costs at the airport are related to an estimated $6-million capital investment required to replace the runway and the runway lights.
- Georgian Bluffs Accepting Purchase Offers For Wiarton Keppel International Airport Until October 14
- City Council Approves Agreement To Sell Owen Sound Billy Bishop Regional Airport For $1.5-Million
The Wiarton Keppel International Airport is located on Grey Road 1, between Oxenden and Wiarton.
The pending sale of the Wiarton airport is the second disposition of a publicly-owned airport asset in recent months in the area, after Owen Sound reached an agreement to sell the Billy Bishop Regional Airport for $1.5-million to Clayton Smith. That transaction is also due to close in December.
