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The aging sewer infrastructure of U.S. cities has been deteriorating for decades and the situation is reaching a crisis point.
Municipalities across the U.S. today face increased federal regulatory pressure, enforcing stricter sewer repair, replacement and maintenance standards. In 2001, the EPA required offenders to spend $4.3 billion to implement pollution control and environmental cleanup projects. For example:
- Baltimore is expected to begin a major rehabilitation of its sewer collection system as part of a settlement with federal regulators that would force the city to make substantial repairs to its aging sewer system at a cost of roughly $900MM to prevent overflows that have dumped millions of gallons of raw sewage into tributaries of the Chesapeake Bay.
- Sewage spills in New Orleans cost the city $650MM to repair, pursuant to a settlement with the EPA.
- New York City plans to spend $7.5B in the next five years to improve sewage plants and other water quality equipment as the direct result of stricter EPA regulation.
Until now there has been no cost-effective, viable way to rehabilitate sewer systems and monetize these embedded assets. Renaissance offers an innovative solution to turn the decaying sewers from costly infrastructure into productive revenue-generating infrastructure assts.
Learn more about how Renaissance works with Municipalities.
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