United Water has announced that its board of directors has elected Anthony Coscia to be its chairman effectively. Mr. Coscia has significant experience in infrastructure and economic development matters. He was recently elected as chairman of Amtrak's Board of Directors, on which he has served since June 2010. Currently, he is a partner at the law firm of Windels, Marx, Lane & Mittendorf, LLP, with a practice focusing on corporate, commercial, and real estate matters.

United Water and KKR announced the initiation of a partnership for water and wastewater system operations in the City of Bayonne, NJ. Operations will begin December 21. The agreement was approved by the Bayonne Municipal Utilities Authority (BMUA) and by numerous state agencies. The innovative model is a joint venture between United Water and KKR to acquire a 40-year water and wastewater concession from the BMUA. Under the agreement, the joint venture has made an initial payment to the BMUA of $150 million, which will be used to eliminate the BMUA's existing debt and improve its finances. The joint venture has further committed to funding another $157 million into the system over the life of the contract. KKR, which made the investment through its infrastructure fund, will fund 90% of the joint venture with United Water. The BMUA will maintain ownership of the water and wastewater system and will provide oversight of the partnership and its adherence to high quality standards and customer service performance. In addition, the BMUA will maintain control of rates charged to users, which will be guided by a formula in the agreement. United Water will operate the system for the 40-year term under an operations and maintenance agreement with the joint venture.

United Water Presents at 16th Annual Investing in the Water Utilities Industry Conference, Dec-06-2012 03:45 PM. Venue: NYSSA Conference Center, Suite 1010, 1540 Broadway, New York, New York, United States. Speakers: Robert J. Iacullo, Executive Vice President.