Aqua America Pennsylvania is $3 million closer to owning Lower Makefield s sewer system in a $53 million purchase.
The down payment is expected to help keep the township s 2021 budget stable as the sale awaits approval by the Pennsylvania Public Utility Commission sometime next year.
“This good-faith deposit will help Lower Makefield Township meet its 2021 budget obligations while the transaction makes its way through the regulatory approval process with the (commission), Aqua Pennsylvania Wastewater President Marc Lucca said last week.
Aqua Pennsylvania Wastewater is a subsidiary of Aqua America Pennsylvania.
Township officials voted 3-1 in August to approve the sale to help pay off a $17.8 million debt related to the township-owned golf course and raise Lower Makefield s Moody s bond rating that was downgraded in 2019.