City Council approved a new 20-year lease agreement for a private operator to continue running the city’s water treatment plant, replacing the final two years on the original lease and continuing through 2036.
A new services agreement for the Rahway Water Treatment Plant will be the subject of a public hearing during a special meeting
of City Council on Thursday at 6:30 p.m. in the library.
City Council is scheduled to hold a public hearing and final approval tonight on a new 20-year lease agreement for the city’s water treatment plant and a $14-million bond ordinance to borrow against an annual concession fee in the deal. UPDATED: Tonight’s meeting has been canceled. A combined conference/regular meeting has been scheduled for Nov. 21.
The city plans to borrow $14 million against a new operating agreement that’s expected to pay the city $1 million annually over the course of a new 20-year contract. Continue reading Council to borrow $14m against new water deal
With three years still remaining on an existing 20-year deal, the city is negotiating a new 20-year lease of the water system that this time is expected to include a $13-million concession fee from the operator.