Last week, bids were received from three companies for the purchase of the borough’s water and sewer system. The decision to seek these bids was made on the recommendation of a citizens study committee, which did a thorough analysis of the operations, debt obligations, capital improvement needs and future revenue requirements of the water and sewer system.
The highest bid received, from New Jersey American Water Company, came in at $38.5 million.
The Board of Commissioners plan is to have the citizens study committee meet again to evaluate these bids, along with the borough’s administrator, finance officer and bond counsel. Any recommendation that is made will be sent to the Commissioners, who will then hold an open public meeting to solicit additional input from residents.
If there is a recommendation to sell the water and sewer system, a referendum would occur at the general election in November 2014. A final decision on any potential sale is required to be made by voters in a referendum.
For more information, contact the borough commissioners or Sharon McCullough at 856–429–4700 or smccullough@haddonfield-nj.gov.
