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City looking to lease water, sewer systems

Deal could help pay off all city, water authority debt

May 15, 2014
By William Kibler (bkibler@altoonamirror.com) , The Altoona Mirror

City Council on Wednesday hired a consultant to try to negotiate a longterm lease of the water and sewer systems, which could generate between $180 million and $240 million to pay off all city and Water Authority debt, fully fund their pension plans, lower property tax and help the city out of Act 47 distress - while retaining ownership of the systems, limiting customer rates and protecting authority workers, according to the consultant.

 
 
 

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