SPSA to Get New Leadership at Critical Time

Date: October 30, 2009

Source: News Room

The troubled Southeastern Public Service Authority (SPSA) representing eight member municipalities in southeastern Virginia will get new leadership. Under a new law, Gov. Timothy M. Kaine is to choose a non-elected representative with general business experience from each locality to serve on SPSA's board. Many of SPSA's woes including its budget deficit and $240 million mountain of debt are blamed on years of mismanagement under a board fraught with conflicts of interest. The changes in leadership come at an important time for the authority as it weighs a $150 million sale of its waste to energy plant. It is also considering a New York firm's offer to buy the agency outright. According to an article in The Virginian-Pilot, some including Del. John Cosgrove (R-Chesapeake), who sponsored the new law, are worried that "the current board will rush through the deal to sell the power plant and basically tie the hands of the new board."

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