On October 9, 2019 Steelton Borough Authority (Authority) closed on the sale of its water assets to Pennsylvania-American Water Company for $21.750 million in cash and $35.7 million in committed capital improvements. As a part of the transaction, the Authority and the Borough of Steelton (Borough) repaid or defeased all of their debt, opening the
Now that most of the dust has settled on the 2019/2020 budget, municipal and Authority water, wastewater and storm water system service providers should note that the Fiscal Code provides a funding opportunity.
Continue Reading Fiscal Code Provides Potential Funding for Water, Sewer and Storm Water Projects
McNees attorneys Tim Horstmann, Ade Bakare and Kathy Pape recently provided an update on municipal storm water management to the membership of the Pennsylvania State Association of Boroughs. Their presentation addressed recent changes in Pennsylvania laws governing municipal storm water management in boroughs, permissible user fee structures, and additional funding streams that are…
Are municipal pension costs eating your budget alive? Are streets, bridges, water and wastewater systems crying out for capital investment? Are public safety costs pushing your budget to the brink? If so, now may be the time to explore unlocking the value of your municipal assets.
Over the past five years, the Pennsylvania General Assembly has enacted several laws that have changed the landscape of municipal water and wastewater assets. These changes make the sale of water or wastewater assets to a public utility more attractive. These changes may also result in an increased sale price if your municipality decides to sell.
Continue Reading Broken Budget? The Fix May be a Sale of Assets