• About
    • Current Issues
    • Who We Are
    • 101 Years Strong >
      • Articles on history
    • Board and Committees
    • Calendar
  • Join Us
    • LWVGP Membership
    • Select Membership
    • Donate
  • Newsletters
    • 2023 Newsletters
    • 2022 Newsletters
    • Past Newsletters
    • Email Sign Up
  • Observer Reports
    • Observer Reports
  • Voter Resources
LWVGP | League of Women Voters of Greater Peoria
  • About
    • Current Issues
    • Who We Are
    • 101 Years Strong >
      • Articles on history
    • Board and Committees
    • Calendar
  • Join Us
    • LWVGP Membership
    • Select Membership
    • Donate
  • Newsletters
    • 2023 Newsletters
    • 2022 Newsletters
    • Past Newsletters
    • Email Sign Up
  • Observer Reports
    • Observer Reports
  • Voter Resources

Water LTE - Thetford

1/1/2017

 
​​8/19/2017: Spotlight: Higher city taxes? Fewer services? Buy water company instead?

By Gale Thetford
Peoria Journal Star Letter to Editor
  
The Peoria City Council is facing dire budgetary challenges. From my time as a council member, I empathize with the difficult choices facing the Council, especially with the city budget being squeezed from many sides — a bankrupt state, an uncertain local economy, uncontrolled pension costs, declining reserves, and already high local taxes.
I remember agonizing over how to maintain operations and city services even when there was no budget deficit. Now City Hall has a $7.9 million shortfall.
The Journal Star editorial of Aug. 10 outlined the city’s financial troubles accurately. There aren’t any good choices for a city also facing increasing demands for police protection, road repairs and other important services.
In looking for a way out of this budgetary morass, the Council should avoid higher taxes on Peoria homeowners, shoppers and businesses. The Council must be creative. The city’s financial future depends on it.
​With that in mind, I was heartened to see the Journal Star encourage the Council to pursue a due diligence examination of the private water system. Despite fear-mongering by Illinois American Water Co. (IAWC), a municipally owned water system could generate significant revenue for the city immediately after its purchase and especially into the future. After bonds are paid off, water revenues could supply millions to the city’s bottom line. Other cities use income from their public water systems to fund services and keep taxes low. Peoria could, as well.
There is no question of profitability in the water system. The Illinois Commerce Commission authorized IAWC to earn a rate of return of nearly 10 percent, which should be used to improve city services and infrastructure, not the needs of other IAWC communities.
It is important for Peorians to know that even though IAWC repeatedly says the water system is not for sale, the 1889 franchise agreement states that IAWC must sell to the city if the Council votes to exercise its option. It has been upheld by the court.
It’s impossible to predict the future. The only way to know if purchasing the water system is a wise investment is to initiate an appraisal as part of a formal due diligence process. The Council can’t afford to wait to undertake this task and determine if a buyout is financially feasible. The budget shortfall demands action now.
It would be political malpractice for our city officials to raise taxes or cut services without first exploring this option for new revenue. A public water system offers the possibility of a long-term revenue stream that could launch Peoria toward fiscal stability. Shouldn’t the Council at least investigate that? This Council has an opportunity to leave a real legacy to its constituents.
Gale Thetford is an attorney and former member of the Peoria City Council. She lives in Peoria.

Comments are closed.
    Become a Member

    View by Date

    December 2023
    February 2023
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    January 2018
    January 2017
    January 2015

    RSS Feed

    Categories

    All
    Environmental Issues
    GP Sanitary District
    Health Department
    Issues
    Letter To Editor
    Member Reports
    News Release
    Observer Reports (LOGO)
    Peoria City Council
    Peoria County
    Peoria Election Commission
    Peoria Heights Board Of Trustees
    Peoria Housing Authority
    Peoria Landfill Committee
    Peoria Park District
    Peoria Public Schools Board
    Peoria Township
    Positions
    Springdale Cemetery
    Tri-County Regional Planning
    Tri County Regional Planning Commission
    Water

Serving the people of Peoria, Tazewell, and Woodford Counties in Illinois​.
The League of Women Voters of Greater Peoria encourages informed and active participation in government and works to influence public policy through education and advocacy. Any person, 16 or older, male or female, may join.

The LWV is nonpartisan and neither supports nor opposes candidates for elected office but does act on issues after member study and consensus.
Become a member
Copyright © League of Women Voters of Greater Peoria. All Rights Reserved. | Privacy Policy
  • About
    • Current Issues
    • Who We Are
    • 101 Years Strong >
      • Articles on history
    • Board and Committees
    • Calendar
  • Join Us
    • LWVGP Membership
    • Select Membership
    • Donate
  • Newsletters
    • 2023 Newsletters
    • 2022 Newsletters
    • Past Newsletters
    • Email Sign Up
  • Observer Reports
    • Observer Reports
  • Voter Resources