Water Transfer To Citizens Energy Takes Step Forward
City-County Council Committee Approves Proposal
POSTED: 6:30 am EDT July 20, 2010
UPDATED: 8:31 am EDT July 20, 2010
INDIANAPOLIS -- A City-County Council committee has approved a plan to transfer Indianapolis' water and wastewater utilities to Citizens Energy Group.With Monday night's vote of 7 to 4 by the Utility Transfer Oversight Committee, the $1.9 billion proposal, in which Citizens would assume $1.5 billion in city debt and give Indianapolis $425 million in cash, moves on to the full council.
Analysis:
Capitol WatchBlog: Water Works
Mayor Greg Ballard said he wants the $425 million to spend on the city's infrastructure -- addressing crumbling sidewalks and bridges and the demolition of abandoned homes.Critics have said that the city would relinquish too much control of utilities if the plan is approved and that oversight would be lax.Indianapolis' water system serves more than 300,000 homes in Marion County and six surrounding counties. About 230,000 homes are served by the wastewater system.The Indiana Utility Regulatory Commission will also review the proposal.A vote by the council is scheduled for Monday.
Previous Stories:
- June 11, 2010: Water Board Approves Transfer To Citizens Energy
- June 9, 2010: Mayor Defiant After Failed Water System Sale Vote
- May 11, 2010: Rundown Home Backdrop In Utilities Transfer Push
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