Following a closed meeting yesterday, council has directed the CAO to propose a counter offer to the company interested in buying the Collingwood Regional Airport.
CAO Fareed Amin said the deadline for the due diligence period on the deal first proposed by Winterland Developments Ltd. expired Jan. 23 and Winterland did not waive the conditions by then.
Effectively, that meant the deal was dead, according to the CAO.
However, Winterland submitted what is called a revival and amending agreement with updated terms and conditions.
The agreement is intended to revive the deal between Winterland and the Town of Collingwood for the sale of the airport.
Amin said council was hearing and considering the content of the revival agreement during the closed session yesterday afternoon (Feb. 13).
“They asked me to go out and make a counter offer,” said Amin. “I’m doing that today and it will be a tight turnaround.”
The town has been working with Winterland Development Ltd. Since it was chosen as the highest bidder in August, 2018. Since then, the sale closing dates have been pushed back four times.