The Toronto Port Authority (TPA) came into being on June 8, 1999, and the THC was dissolved. The Letters Patent for the new organization provided for it to be governed as an independent agency, with seven directors, one each to be chosen by the federal, provincial and municipal governments, and the others to be representative of the commercial users of the harbour. The TPA received the harbour assets of the former Commission, including inner and outer harbour lands, the airport and the Harbour Commission building. Like the other port authorities, it was to be self-sufficient in its activities, charging fees to the users of the harbour and airport.