News release from the City of Fort Wayne:
Mayor Henry reemphasizes support for purchase agreement between City and Aqua Indiana
(May 6, 2014) – Mayor Tom Henry this afternoon held a media availability to reemphasize his support of the City of Fort Wayne and Aqua Indiana reaching a final agreement for the City to purchase Aqua’s water utility in southwest Fort Wayne and resolve the dispute over the purchase price of Aqua’s former north system.
Two ordinances, one for the purchase of Aqua and the other for a bond to finance the purchase, will be discussed at tonight’s City Council meeting. Final approval could also occur tonight.
The agreement needs approval from City Council and the Indiana Utility Regulatory Commission. The Fort Wayne Board of Public Works and Aqua America’s Board of Directors have approved the agreement.
“I applaud the efforts of my City team and Aqua for coming together to meet the needs of residents and businesses in our community. Since taking office in 2008, I’ve been committed to finding a solution to the water situation in southwest Fort Wayne,” said Mayor Henry. “A commitment to reliable and high quality water at an affordable price for all residents is critical as we invest in our future as a leader in quality of life, economic development, and job growth.”
Last July, led by Mayor Henry, the City and Aqua announced as part of a letter of intent that the City will pay Aqua an additional $50.1 million to the $16.9 million paid to Aqua by the City in 2008 (for a total cost of $67 million) for the completion of the sale of all of Aqua’s drinking water facilities located in and near Allen County. Current Fort Wayne City Utilities customers will not see increased water rates as a result of the transaction.
The transition to City water will take place in three phases beginning in the October-November timeframe.
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