Collingwood Regional Airport sale set to close

Collingwood council has approved the execution of an amendment to the original sale agreement for Collingwood Regional Airport between the Town of Collingwood and Winterland Developments Ltd., concluding the due diligence period entered into on July 31.

The sale is scheduled to close the end of March.

“After an extensive request-for-offers process in early 2018, Winterland Developments Ltd. was named the successful bidder and demonstrated the ability to implement the needed investments into the airport for it to grow to a level that could never be reached under the ownership of a municipal government,” said a news release.

“The Town of Collingwood is excited about the future of the airport and sees the sale of the Collingwood Regional Airport to Winterland Developments Ltd. as an opportunity for the airport, and regional business community, to grow and flourish.”

Collingwood Regional Airport is located in Clearview Township. The municipality submitted a $3.5 million bid but was unsuccessful.