May 28th, 2014
Reading’s Water Lease and the Costs of Privatization
The Reading City Council is considering opening up the city’s water system to privatization. The city council president wants to allow for-profit, private water companies to bid on a long-term lease to take over the water services for decades. This is a risky and potentially very costly ploy to raise some quick funds to cover part of the city’s budget shortfalls and liabilities. While Reading’s fiscal difficulties are serious, the city must address them directly and avoid budget gimmicks like water privatization that will increase costs for generations of Reading residents.