Shoreline Council to Discuss Seattle Public Utilities Water System Acquisition

The Shoreline City Council will meet at 7 p.m. on Monday, Jan. 23 at Shoreline City Hall to discuss and vote on matters originally scheduled for Jan. 17 that were wiped out because of snow.

The Council will discuss the acquisition of the Seattle Public Utilities (SPU) potable water system in the City of Shoreline, according to city documents. In November of 2011, the city of Seattle and the city of Shoreline announced a tentative agreement in principle to the sale of the water system assets at a price of $25 million in the year 2020. Shoreline staff will provide a summary of the next steps in the process.

If the acquisition is to proceed, the financial mechanism to purchase the system would be a Revenue Bond issued at the time of acquisition and paid for only by the utility rate payers within the SPU service area, according to the city. Citizens who receive their water service from the Shoreline Water District are not financially affected by this decision. Repayment of the Revenue Bond, or debt service, would be incorporated within a rate structure approved by City Council.

The Council will vote on several other matters including approval of the Economic Development Strategic Plan for 2012-2107. Surveys have shown economic development is the top priority of Shoreline citizens.