Monday, April 22, 2013

Water firm says it needs more data from city to make offer

By Denny Densford
University of Kentucky School of Journalism and Telecommunications

Kentucky-American Water Co. says it is still interested in Midway’s water and sewer system and is aiming to have its purchase proposal finished by May. A town hall meeting to hear Kentucky-American's offer was canceled last week when the company said it wasn't ready.

“The town hall meeting date had been set as a time when a proposal could be presented,” said Kentucky American Water external and government affairs manager Susan Lancho.  “But the due diligence process is still being conducted.”
Lancho said Kentucky American has told Midway Mayor Tom Bozarth that it is still interested in purchasing the system.

Bozarth said Kentucky American called him to inform him of the delay and because of that, the meeting set for Tuesday, April 16, was canceled.

Kentucky American will continue to research the system, said Lancho, so it can present an appropriate proposal. “We are targeting May but do not have a date set,” she said. “We are seeking some additional information from the city of Midway as part of our analysis.”

Lancho said as soon as they get that information they will be in a “better position to know when the proposal will be ready to present.”

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