GRAFTON — Illinois American Water Co. has plans to purchase the city of Grafton's water system at a cost of $1.8 million. The agreement was approved Tuesday night the Grafton Board of Aldermen.
The agreement will require approval by the Illinois Commerce Commission before it can be finalized. This is expected to be completed in summer 2013, according to Illinois American.
Illinois American Water Co. began its partnership with the city of Grafton in September 2010, providing water to the city on a sale-for-resale basis. The city has continued to own and operate its water distribution system but purchases water on a wholesale basis from Illinois American's Alton District.
Until the sale of the Grafton water system is approved by the Illinois Commerce Commission, Grafton will continue to purchase water from Illinois American Water and sell and distribute water to Grafton residents.
Following ICC approval, Illinois American Water will announce plans to hold a community meeting so customers can meet representatives from the water company and ask questions about their water service.
The City of Grafton water system serves about 400 customers.