United Water currently chairs SWIC and provides water and wastewater services to approximately 5.7 million people in the United States. In addition to owning and operating 20 water utilities, the company operates 100 municipal and industrial water and wastewater systems through innovative public-private partnerships and contract agreements. Founded in 1869, United Water is a subsidiary of Suez Environment.
Recently, United Water Executive Vice President Bob Iacullo met with House water and wastewater infrastructure funding leaders to convey the importance and benefits of public-private partnerships (P3s) and to encourage adoption of the U.S. EPA Environmental Financial Advisory Board policy recommendation to remove drinking water and wastewater projects from federally imposed State private activity bond (PAB) volume caps. The EPA Board found that ?State volume caps were constraining tax-exempt financing in a way that was limiting the supply and/or increasing the cost of investment funds? for water and wastewater facilities.
Iacullo presented the benefits of P3s, highlighting United Water?s unique partnership with the City of
Bayonne, N.J. The innovative model will lead to improved service reliability and water quality while maintaining rate stability. To illustrate the benefits of private activity bonds, Iacullo discussed a recent PAB allocation for a $100 million expansion of the Haworth Water Treatment facility. The PAB allocation provided New Jersey customers a 2.5 percent savings in investment costs. Iacullo told the House panel that we can reduce the cost of water infrastructure renewal and replacement only through sustainable capital investment programs that utilize both public and private resources. For more information, visit www.unitedwater.com.
SWIC MEMBER SPOTLIGHT: United Water
Sen. Robert Menendez (D-N.J.) ?We?re all too familiar with the increasing frequency of water main breaks that unexpectedly flood random areas, disrupting businesses, transportation and the daily lives of so many on any given day. This legislation could create over a million jobs leveraging a modest investment by the federal government into billions of dollars of critical private economic investment to upgrade and rebuild aging water infrastructure in communities across the nation. Creating private sector jobs to ensure American families have reliable access to clean water is a win for our workers, taxpayers, and the communities we live in.?
Sen. Michael Crapo (R-Idaho) ?Small communities need, and deserve, federal support to comply with federal water and wastewater guidelines. This bill would allow local communities to leverage private capital markets in combination with other financial mechanisms to finance water and wastewater infrastructure projects. It makes financial sense for communities and will improve public health and water quality.?
BIPARTISAN LEADERSHIP AND SUPPORT
You Can Help ? Get Involved!
Call your U.S. Senators and Congressman today at 202-224-3121 and tell them:
? Support tax-exempt municipal bonds, including qualified PABs to reduce costs of water infrastructure renewal and replacement.
? Ask your Senators to support and sponsor the Menendez/Crapo water investment bill.
? Ask your Member of Congress to sponsor/support the Pascrell water investment bill.
The SWIC newsletter for UIM is authored by SWIC co-executive directors Bruce Morgan, Principal of Water Policy Associates, and Eben Wyman, Principal of Wyman & Associates.
