By Darrell Jackson | Peoria TImes
By a 6-0 vote, Peoria city council approved the purchase of the New River Utility Company (NRUC) for $10 million.
After a year of discussions on the possible purchase of the utility company, the city agreed to purchase the utility, which serves an area from Union Hills Drive to Williams Road with its eastern boundary at the city limits.
“The City of Peoria has had ongoing productive and amicable discussions with owners of the NRUC regarding the potential purchase of the company by the city,” said Michael Weber, Deputy Public Works-Utility Director.
The city agreed to purchase NRUC for an amount equal to $10 million after the public works – utilities department, finance department, and the city attorney’s office worked closely and collaboratively with NRUC representatives and reached an agreement for the purchase weeks ago while waiting for approval from the council.
