Florida Governmental Utility Authority Approves $49.2 Million Investment

Transfer of Private Facilities to Government Control, Stabilizes Rates, Provide Local Accountability, Continues to Improve Services

TALLAHASSEE, Fla.--()--The Florida Government Utility Authority (FGUA) announced today that it signed an agreement to purchase most of the water and wastewater systems, currently owned by Aqua Utilities Florida, Inc., and Crystal River Utilities, Inc., located in Florida.

Today the FGUA Board approved the $49.2 million to purchase the majority of the water and wastewater systems currently owned by Aqua Utilities Florida, Inc., putting these assets into government management. As part of the process, FGUA plans to stabilize rates and will continue to improve the quality of service for these customers.

“This purchase provides many direct benefits to the customers,” said FGUA System Manager, Robert Sheets.

In addition to improving the systems and customer service, FGUA will be far more transparent to its customers. It is anticipated that rate increases will be limited to inflation adjustments for the next five years, unless unforeseen circumstances arise, according to Sheets.

Pasco County has encouraged FGUA to acquire private facilities in their community. As a result, residents are happier with improved water quality and service. County Commissioner Jack Mariano said that after the purchase of private utilities in Pasco County, facility upgrades were achieved while rates remained lower than other private utilities in the County.

The Aqua purchase includes systems in the following 12 counties:

Alachua                        

Lee

                       

Polk

Citrus

Marion

Putnam

Hardee

Orange

Seminole

Lake

Pasco

Volusia

The purchase of the facilities is expected to be complete in the first quarter of 2013.

Contacts

For The Florida Government Utility Authority
Sandra Anderson, MPA, APR, 813-948-6400, ext. 226
Cell: 813-965-5310
Sandra@eprgroup.com

Release Summary

FGUA signed agreement to purchase water/wastewater systems, currently owned by Aqua Utilities Florida, Inc., and Crystal River Utilities, Inc. FGUA Board approved the $49.2 million for the purchase.

Sharing

Contacts

For The Florida Government Utility Authority
Sandra Anderson, MPA, APR, 813-948-6400, ext. 226
Cell: 813-965-5310
Sandra@eprgroup.com