The mayor of Stephenville says he expects the sale of the Stephenville airport to be announced “very shortly.”

The Town of Stephenville has filed a notice to stop funding to the Stephenville Airport Corporation ahead of new ownership.

The town had been supplying a grant of $32,500 a month to the airport to keep the lights on, but that will stop next month.

Council approved the motion in a meeting held on Thursday.

Mayor Tom Rose says the deal to sell the airport to Carl Dymond’s Group is nearing completion.

He says everything is on track to finalize the transfer of ownership from the Airport Corporation to the Dymond Group, with the funds being transferred earlier this week. The sale will be finalized once it is proved that all conditions of the agreement have been met. Those terms include paying off the airport’s million dollar line of credit, GST, severances, among other legal terms.

It’s been a long time coming as Dymond first announced his intentions in September of 2021, with the deal facing multiple setbacks due to insolvency issues between both the airport and Dymond.

The sale has been the talk of the town over the past two years, with many residents sharing mixed opinions on the matter.

The mayor says the sale of the airport is a positive move for the Town of Stephenville and its residents.

He says no longer will taxpayers be putting money towards the airport. “It’ll turn around 180 where the airport will start providing funds to the taxpayers of this town.”

In the past, Dymond has shared big plans for the terminal that sits idle most days after airlines such as Sunwing and Porter discontinued service to the airport.

In 2022, he stated his intention to expand the terminal that would not only serve the travelling public, but also the community.

It’s what he called a “mini aero-tropolis” that would include retail stores, restaurants, and recreational facilities such as a bowling alley and movie theatre.

Construction on the $500-million upgrades were scheduled to begin in April 2023.