Developing a Privately Owned Utility in Florida: Financing and Cash Flowby Thomas W. Goodell, Central County Utilities, Inc, United States,
Document Type: Proceeding Paper
Part of: Water Resources Infrastructure: Needs, Economics, and Financing
Private developers of a 5,000-acre master-planned community in Sarasota, Florida, were required to provide their own wastewater treatment plants as a condition for obtaining permits. After negotiations with the local planning authorities, one of the owners agreed to construct a large facility and to serve as a regional utility. To finance the new company, established as Central County Utilities, Inc., the private owner had to find his own funding. He obtained it through Industrial Revenue Bonds and private sources. Within four years of construction, the utility has become an award-winning model of efficiency and innovation. This case study of the development of Central County Utilities demonstrates some advantages of private ownership in meeting the infrastructure needs of a growing market.
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