A vote on moving forward with the PPEA process, that would provide details of selling Petersburg’s water system operations, was removed from last night’s city council agenda at the last minute. Mayor Sam Parham said the council had “no action to take.”
Approval of the PPEA would allow the city to see the actual dollar amounts of bids from two companies.
Consultant Robert Bobb, who has guided restoration of Petersburg’s credit rating, has pushed an idea. “The city needs a liquidity event, it needs money in the bank, to be successful going forward. We have strongly recommended that they consider selling the water and sewer and collections operations, at least consider it, and currently the city council, collectively, has been unwilling to at least consider that as one of its options to put money in the bank.”
There are objections in the community and council had said it wanted to give the new city manager Aretha Ferrell-Benavides time to catch up on the issue.