Chester receiver Michael T. Doweary predicts that the process to monetize Chester’s water assets to generate revenue for the city could be finished by next summer, writes Kathleen E. Cary for the Daily Times.
Those assets are now held with the Chester Water Authority, DELCORA and the Stormwater Authority of the City of Chester.
The receiver’s office is mediating with the three entities through the federal courts as it seeks qualified new public bidders to take over the assets.
“This is an important transaction for the city of Chester and it is also a complicated transaction for the city of Chester,” Vijay Kapoor, the receiver’s chief of staff, said at a Municipal Financial Recovery Advisory Committee meeting.
Those determined to be eligible will be invited to bid sometime after Feb. 12.
The objectives will be to maintain affordable rates for ratepayers, preserve public sector jobs, preserve access to the Octoraro Reservoir where the Chester Water Authority currently gets its water, promote cost-effective capital reinvestment to enhance customer service and boost operational efficiency.
Chester will have the ultimate decision on who qualifies to bid, Kapoor said.
Find out more about the qualifications being sought in potential bidders in the Daily Times.
