High Asset

Vinton begins process to sell utility assets to Western Virginia Water Authority

[ad_1]

With all of the maintenance required on the town’s facilities, it would eventually lead to higher prices that are not competitive with the authority, he said.

“It will provide our residents with steady rates. Our rates are about the same as the authority’s right now, but we are thinking long term,” Peters said. “It will also free up a lot of our people [in the public works department] to focus on other needs in the town.”

The town will also be able to focus more of its time and funding on important community development projects such as transportation enhancements, improving walkability, and improving stormwater management, the release states.

“We want to build up our community and to give extra support to those projects that help make us special. Having the Authority provide high quality utility service while we focus on enhancing the look and feel of the town is a win-win for Vinton,” Mayor Bradley Grose said in the release.

As it currently stands, the deal includes several stipulations, including the exchange of funds by both sides, according to the proposal provided by the town.

The town would receive $3 million over three fiscal years, beginning in FY 2024, and the town would give the authority $5.7 million in American Rescue Plan Funding as a sub-recipient to make additional system-wide improvements within the Vinton and East Roanoke County Utility System.

[ad_2]

Source link