Limerick sells sewer system for $75.1M
LIMERICK>> A major deal was struck in Limerick Township that’s sure to impact residents for years to come.
In 2016, the Board of Supervisors unanimously approved the $75.1 million sale of the township sewer system to Aqua Pennsylvania Wastewater Inc.
The deal is expected to close in the fall of 2017, following a review by the Pennsylvania Public Utility Commission.
The seven current township sewer employees will become full-time employees with Aqua with substan- tially similar compensation and benefits, according to the company and township officials.
The sale is one of several significant projects moving forward in the township. The township is gearing up for a new$10.4 million police headquarters and administration building. Design and engineering is wrapping up and construction is slated to begin in early 2017. Additionally, over the next 15 years, the township has $13 million budgeted to renovate the two township volunteer fire company stations and purchase newequipment. Lastmonth, the township broke ground on a Limerick Fire Company fire station. After that, the Linfield Fire Company will undergo a $2.5 million renovation, Township Manager Dan Kerr said previously.
The goal of the sewer system sale, according to supervisors, was to fund future capital projects for the police, volunteer fire companies and publicworks department and reduce township debt. With increasing demand for services, this new deal is said to ensure the community will be in good hands for the foreseeable future.
Police protection, fire and emergency response services, and the need to maintain a road network of approximately 100 miles are the primary services Limerick must ensure tomaintain the vitality of this community not only for today, but for future generations,” supervisors’ Chairman Thomas J. Neafcy Jr. said in a press release.
“We are pleased to accept this bid and to be able to fund these important capital projects without the need for increased taxes,” supervisors’ Vice Chairwoman Kara Shuler said in the release. “We also realize that the excess funds provide an opportunity of financial stability and stable tax rates for this community for many more years if a proper investment strategy is undertaken by the board.”
Aqua’s $75.1 million bid came in 43 percent higher than the other two offers. With this deal, the township will also receive an additional $400,000 for pend- ing development, according to a presentation made during Tuesday’s meeting.
The next step in the process will be the submission of an application to the Public Utility Commission, which will review the details prior to the actual closing. Until that time, the township will continue to operate the sewer system. As the sale closing date approaches in the fall of 2017, the public will be notified of the pending change by Aqua along with contact and billing information, the release states.