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Finance committee  Starting in 2010, we'll all be using the same formula to pay rent, so it will be relative to your revenue generation. I think the inequity is that we're being asked to create the infrastructure to deal with the doubling in traffic that's happened over the last decade, yet we're also paying rent to a landlord that does not do anything for us in terms of assisting with any of that infrastructure.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  I don't agree that it's fair to tie it to revenue, because the revenue formula as it's written is not revenue as the rest of us would calculate revenue.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  Across the country, including Winnipeg, we estimate we've lost 2.5 million passengers this past year to cross-border traffic. They will drive to North Dakota from here to save money.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  You are speaking of the press release from Minister Day?

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  Yes. Then as well there's the—

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  There were several projects listed. There was CentrePort Canada Way, Port of Churchill, Hudson's Bay Railway rehabilitation, Emerson Highway 75—there is a whole bunch of them—the Trans-Canada Highway and Yellowhead Highway interchange, and then as well there was this task force.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  Yes, CentrePort Canada Way is the road connecting it.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  Correct. There's a task force that has been established with a number of representatives from CRA, Transport Canada, etc.—

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  Yes. My understanding is that this particular task force is focusing on setting up a free trade foreign trade zone for CentrePort Canada.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  With respect to the airport, we're quite anxious to get this up and running. It is a huge economic driver. The foreign trade zone would allow development to happen much faster. We need the foreign trade zone program to be a true foreign trade zone. Right now, two programs exist.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  That's not my understanding here.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  It's $5 million out of about $40 million.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  Yes, it's a big number for us.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  In 1996 it was signed between Transport Canada and the airport authorities. And then it was amended in 2005 to change the formula to be similar across the country as a percentage of rent.

October 20th, 2009Committee meeting

Catherine Kloepfer

Finance committee  I'm not sure that as the airport authority we can help with that particular issue, but I think from the experience seen around the world--I think there are 500 foreign trade zones around the world--it attracts a lot more investment than is lost. Enterprises that are already in those areas benefit as well from increased activities, and the community as a whole benefits.

October 20th, 2009Committee meeting

Catherine Kloepfer