Mineola - (WALK) A 20-year deal to privatize the sewerage system in Nassau awaits approval by the Nassau Interim Finance Authority (NIFA) after its approval by a county legislative committee Friday.
The tentative contract would pay New Jersey-based United Water approximately $1.14 billion over two decades, but would save Nassau taxpayers an estimated total of $233 million, according to County Executive Edward Mangano.
Much of the savings would come from transferring water-treatment workers to United's payroll. If the contract is approved by NIFA, United Water would hire roughly half of the County's 300 sewer employees, according to administration officials.
United Water is a subsidiary of Paris-based Suez Environment, and is the second-largest private, water-systems operator in the U.S. The company would be paid approximately $57.4 million per-year (adjusted each year for inflation) to manage Nassau's 3,000 miles of sewers, 53 pumping stations, and three major wastewater treatment plants.