« Lost in Space!!!! | Main | New Start »
Referendum Question
By suewiz | February 18, 2010
I have been asked what my feelings are about the Steam Plant closure (I think it’s a good thing and overdue) and about the proposed sale of electric assets to WPPI (again I think it’s a good thing) and the upcoming referendum question. The Public Service Commission in Wisconsin ruled that the sale/leaseback of Menasha Electric distribution assets to WPPI is a measure that will save Menasha residents from further financial distress. One official stated that he believed this proposal will “save Menasha”, and I think he’s probably right.
Yes, some awful decisions have been made in the past. We’ve leaped before we looked often enough to have learned our lessons. This time, before we proceeded down any path, we have asked dozens of authorities and specialists, legal and financial, to advise us on the proper course. About the time we began to think it was all hopeless, we were offered this helping hand to pull ourselves out of the mire of possible ruin. We have the opportunity to save face, pay our bills, raise our floundering credit ratings, and regain our City’s financial footings.
The Steam Plant project was a Menasha Utilities proposal, and it only seems fitting that some of the Utilities assets be used to restore our City’s financial picture. It’s a win-win because – after paying our bills – we can regain title to the assets in a 20 year buy-back, we can retain our PILOT payments, we continue to manage the Electric Utilities for WPPI with our people and we continue to receive lower electric rates through participation in that consortium.
Do I support the referendum? Yes I do. I will vote YES!
