WAVERLY, Va. (WRIC) — The Town of Waverly’s drinking water system services around 905 customers and has been experiencing issues for years. Now change may be coming with the the town selling their drinking water assets to Virginia American Water.
“The sale of Waverly’s water system to Virginia American Water provides a long-term solution for the town’s water challenges. It also provides an infusion of capital to focus on the town’s pressing community needs,” said Barry Suits, president of Virginia American Water.
According to a release from American Water, the company will be spending up to $2.5 million to acquire the drinking water system. The deal will be finalized after appraisal values are determined and the Virginia State Corporation Commission gives its approval. VAM expects the transaction will probably be completed later this year.
Once Virginia American Water has ownership of the drinking water system the company plans to put over $4 million into “critical” improvements to the water system. Some planned improvements include water main replacements, valve installation, upgrades to the chemical feed systems and improvements to wells and tanks. The company plans on making the water system safer, more secure and more reliable.
“Selling Waverly’s drinking water system to Virginia American Water is the best solution for our town,” said Franklin Cox, Council President, Town of Waverly. “The proceeds from the sale will greatly improve the Town’s financial position allowing us to focus on other key community priorities; and, as experts, Virginia American Water can solve our water system challenges in a responsible, cost-effective manner that includes efficient deployment of capital to improve the infrastructure in our community. It’s a win-win for our community.”
Back in 2017 when a water boil advisory was put into effect for an extended period of time residents aired their grievances with the drinking water quality in the town. Some residents said that for years they had experienced brown or cloudy water, with one residents stating that they had water issues at home for 15 years.