It is expected that the St. Joseph Village board will approve an ordinance selling the waste water system to Illinois American Water tonight. They will lease the treatment plant.
The agreement states that the village has determined that the best method of sale of the system is through the sale of certain assets and easements rights. This includes all wastewater mains, wastewater pipes, lines and 318 customer service connections and laterals including multi-family units, valves, vaults, pumps, boosters and lift stations.
They will also enter into a Wastewater Treatment Plant Agreement where Illinois American Water will manage the new plant and make payments that cover the service of the IEPA debt. They will be given the option to purchase it at the end of the loan agreement. The village currently has debt payment of $4.2 million.
Illinois American Water will pay $4,900,000 for the waste water system and easements.
Illinois American Water has agreed to spend $7.3 million in capital upgrades on the system in the first five years.
Illinois American Water shall offer employment on the closing date to all active employees in who are employed by the village in operating the collection system.
The village board meets tonight at 7 p.m. at village hall.
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