$50M is just 'starting offer' to Y'town, Acqua chief says
Aqua Ohio’s offer to buy Youngstown’s water system for $50 million is “a good starting point” for the company’s discussions with the city, its president says.
Ed Kolodziej, Aqua Ohio president, told The Vindicator on Wednesday if Mayor-elect Jamael Tito Brown is interested in selling the city’s water system, “we’d work with the city administration to justify what we could pay and come up with an offer; $50 million is the starting offer.”
When asked about how high Aqua Ohio would go, Kolodziej said it was hard to say because “this is the very, very beginning.” The two sides haven’t even met to talk about a potential sale, he pointed out.
Brown says he’ll look at the proposal but isn’t that interested in it because water is one of the city’s main resources.
In addition to providing a potential source of funds to the city, Aqua Ohio’s offer to Youngstown addressed the continuous need for infrastructure investment and environmental compliance.
Read more about the matter in Thursday's Vindicator or on Vindy.com.