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It's now sink or swim for Lake Ontario ferry

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The passenger ferry is zipping its way from Australia to Rochester, but rough financial waters in Toronto are threatening to sink The Breeze.

The $59 million ferry's financial backers have the option to pull out because, less than two months before the maiden crossing of Lake Ontario, between Toronto and Rochester, a deal has still not been signed between the Toronto Port Authority and Canada Customs on the proposed waterfront terminal.

"They could walk away," Lisa Raitt, the port authority's chief executive, said yesterday. "But we still believe the project is a go."

The deal between the ferry operator and the port authority was contingent on an agreement with Canada Customs by last Thursday. There is no agreement, and the problem is the terminal's price.   more...

 



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