TFTT Report

J. Troy Johnston and Tray Hairston, attorneys with expertise in public finance and economic development, examine national and local solutions to address the nation’s water infrastructure challenges, including the Water Infrastructure Financing and Innovation Act (“WIFIA”) and the involvement of private water companies. Below are key takeaways Truth from the Tap wants you to read:

http://www.butlersnow.com/2015/07/cost-water-rising-financing-tools-strategies-help-communities-pay

Local elected officials throughout the United States, whether in small towns or the country’s largest cities, are facing the difficulties of expanding, repairing and bringing into compliance with federal and state regulations their aging drinking water and wastewater systems. In older jurisdictions, pipes installed as long as a century ago will have to be replaced.

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It could cost more than $2 trillion over the next 25 years to replace and expand drinking water and wastewater systems nationally. Both federal and state solutions are being proposed to address this enormous cost that involves innovative financing and in some instances private parties. However, some cities and towns will find it necessary to utilize current tools (perhaps in unorthodox ways) to construct and repair systems because the need is so great. Regardless, the cost is vast and the need is abundant.