The new mission, to be self-sufficient, led the TPA to pursue opportunities to increase its revenues, including expansion of the island airport and the building of a cruise ship terminal.

Built in 1939 on land dredged from the harbour, it has two runways which can accommodate the smaller planes of regional scheduled airlines and general aviation aircraft.

[6] Because of its location near downtown and its tall buildings, industrial smokestacks and a wind turbine, air traffic into and out of the airport is controlled with approaches and departures routed over the lake.

The airline currently flies to more than 20 regional destinations including Ottawa, Montreal and Newark, Chicago, Boston, Halifax and Quebec City.

Marine terminals include inside and outside storage, and some 6,000 square feet (560 m2) of berthing space for ships carrying general cargo.

Self-sufficiency tests conducted on behalf of Transport Canada in both 2003 and 2004 looked at the TPA's business plan for the future, allowing them to maintain their port authority status as long as they could project a profit.

Thus, while the TPA was seeking approval of the Island Airport fixed link, it potentially threatened the ability of the city to proceed on waterfront revitalization.

On November 28, 2002, Toronto City Council, led by then-mayor Mel Lastman, approved the amendment of the tripartite agreement to permit a fixed link and the construction of a lift bridge.

Despite the bridge being an election issue, the Port Authority continued developing the project, progressing to the point that contracts were signed with major participants (including companies operating from the airport).

"[69] The federal government later transferred $35 million to the TPA in May 2005 to settle claims arising from the cancellation from Deluce, Aecon Construction and Stolport Corp.[70] Compensation terms were not disclosed.

[73] The failure was attributed to unexpected costs of Canada Customs fees, US border security not allowing transport trucks onto the ferry and CATS' under-capitalization.

Ferry service was halted in January 2006 when a newly elected city council in Rochester cancelled funding, after incurring costs of US$10 million in 2005.

NDP MP Olivia Chow, a frequent critic, called it a "total whitewash" while Toronto Mayor David Miller said the document is "not worth the paper it's written on".

Porter had purchased the island terminal, which was then used by an Air Canada budget operation called Jazz, and evicted the competitor from the airport.

[84] The tunnel project has also garnered the support of the Toronto Board of Trade and Economic Club of Canada business associations and Ornge, the medevac provider.

However, a revised minutes document was made that listed McQueen as chair, with controversial material removed, such as complaints over the interference of the Minister of Transport Lawrence Cannon and his staff.

[93] The TPA took issue with the Toronto Star investigation, declaring it "rife with errors and falsehoods", having a "lack of balance" and "Linda Diebel had information and documents in hand which demonstrated that she was being misled by biased sources, she inexplicably proceeded to publish serious and false accusations.

[96] In a November 2009 press release, the TPA noted that "the Star has yet to acknowledge the failings in the series nor has it apologized for the false accusations made in the first two articles.

Ms. Dawson stated: "I believe that Mr. Watson exercised his duties both as a Director of the Toronto Port Authority and as Chair of the Audit & Finance Committee with the genuine conviction that the new ferry was a good thing for the TPA as a whole and for the Airport's primary user, Porter Airlines.

Chris Day, a spokesman for federal Transport Minister John Baird was quoted as stating that "is taking steps to preserve the Island Airport's continued status as an important catalyst for Toronto's economic competitiveness".

Then-CEO Lisa Raitt stated that the Port Authority spends around CDN $50,000 a year on lobbyists, and confirmed that their lobbyists are: Peter Naglik (a former speech writer for Prime Minister Stephen Harper), Vic Gupta (Ontario PC Party treasurer, former deputy campaign manager for John Tory's 2003 failed bid for Toronto Mayor, and until June 2006 on Jane Pitfield's election team) and Bill Hearn (lawyer).

The settlement was reached in 2015 for the remaining properties on Cherry Street and the Outer Harbour Marina and a regular PILTs payment schedule is now established.

[113] Air Canada abandoned its legal actions in the Federal Court, but pursued a judicial review of TPA's plans to open the airport to other airlines.

[117] According to the National Post, the complaint stemmed from a Community Air memo sent to then Minister of Transport Lawrence Cannon, describing the TPA as a "painful thorn in the side of the city".

Under Prime Minister Paul Martin, the Liberals canceled construction of the airport bridge at the request of city council after the 2003 municipal election.

Federal party leader Jack Layton (Chow's then husband), who represented a nearby riding, had stated that he wanted the auditor-general to investigate the settlement surrounding the failed airport bridge.

The Board of Trade produced a report in 2006 appealing to the city and to the TPA to start working together, citing an estimated positive economic impact of over $135 million from the airport.

Both sides could be winners instead of dragging each other down.Among the recommendations were increasing the number of Toronto-appointed board members, operating the airport without any subsidies and resolving any back tax disputes.

The TPA welcomed the report, but Mayor Miller noted that the plan "falls short of identifying a fundamental change that needs to be made.

After Trinity-Spadina Councillor Olivia Chow moved to federal politics, Adam Vaughan was elected in her place to council, and he is a vocal opponent of airport expansion.