How much does the tunnel cost? The tunnel will cost $82.5 million to build, and is being financed by the private sector and paid for by airport users via the existing City Airport Improvement Fee (AIF), not the taxpayer.

How is the tunnel being funded? The tunnel is being funded through a P3 model (public private partnership). A public private partnership is one between a public sector entity and a private entity to deliver a public infrastructure asset and its related services. For example, highway 407 was built as a public- private partnership project.

The P3 model provides that private partners with the appropriate skills and technical expertise manage the complex construction process and take responsibility for the project, including the financing and associated risks. In exchange, Forum Equity Partners, the private sector partner, receives a long-term revenue stream from the property that includes payments from PortsToronto (which are derived, in part, from the $20 Airport Improvement Fee charged to passengers).

PortsToronto assumes control of the tunnel upon completion and retains ownership of the tunnel throughout the life of the P3 concession period. The P3 structure also ensures that no taxpayer money goes towards the construction or subsequent maintenance of the tunnel.

How much money are taxpayers contributing to the project? Taxpayers are contributing no funds to this project.

When will the tunnel be open to the public? The target for the tunnel opening is late July . 2015.

Will the tunnel also provide access to Toronto Island? When it opens, the pedestrian tunnel will only connect travellers to Billy Bishop Airport. Those wishing to access Toronto Island will continue to take the City of Toronto ferries located at 9 Queens Quay W.

Will vehicles be able to use the tunnel? The tunnel is designed for pedestrians only. Vehicles will continue to cross the channel via ferry. The tunnel is a key component of PortsToronto’s traffic management strategy as it improves the flow of passengers and alleviates the congestion stemming from travellers arriving and departing in four ferry “waves” per hour.

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What happens to the current ferry service once the tunnel is built? Individuals travelling without a vehicle will still have the option of taking the ferry to the Billy Bishop Airport. Vehicles will continue to use the ferry to access the island-side of the airport.

Who are the other partners involved in this project? The Billy Bishop Pedestrian Tunnel project was procured by PortsToronto as a public private partnership structured as a design-build-finance-maintain project with Forum Equity Partners. In this capacity, Forum acts as lead developer, PCL Constructors as design-builder, Arup Canada as the lead designer and Johnson Controls as Facility Manager.

How many passengers does the Airport have each year and what growth do you expect as a result of the tunnel? The Billy Bishop Airport saw nearly 2.3 million passengers over the last year. While we do not expect to see a large increase in our traveller volume as a result of the tunnel’s completion, we do expect to see improved flow of travellers arriving and departing, and more reliable, convenient and predictable access to our airport.

Is there a cost to using the tunnel? There will be no cost to passengers using the tunnel. A portion of the Airport Improvement Fee (AIF) is being used to repay the cost of construction of the tunnel but there will be no incremental fee charged for using the tunnel by individuals once it’s complete.

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