The funding will be used to expand the airport’s runway and increase the number of lots in its business park.

Applications for this first round of funding, which is valued at $100 million, are open through February 28. A second round of funding worth $15 million will be opened in the spring.

Premier Doug Ford said Monday that a state of emergency will be allowed to expire as scheduled on Tuesday, but most regions will remain under a stay−at−home order until they transition back to the province’s colour−coded restrictions system. 

The building, which was built in 1966, was originally known as the North York Centennial Arena. It was renamed in 2001 to honour the former hockey star Herbert H. Carnegie. Each year, it serves about 60,000 residents.

The Building for Recovery coalition is calling for senior levels of government to spend the money they have already committed to infrastructure funding in an effort to not only bolster the construction industry, but also to spur the economy along more generally.