October 3, 2017
The Borough of West Conshohocken recently sold its sanitary sewer system for $9.5 million to the Borough of Conshohocken Authority. Attorneys Joseph J. McGrory, Jr. and Robert M. Sebia helped prepare the bid documents and helped negotiate the asset purchase agreement. “It has been a complex and challenging transaction, but I am pleased that everything went smoothly at settlement,” said Sebia.
McGrory is currently working for five municipalities selling their sanitary sewer systems and has acquired substantial experience in the complicated and tedious process of selling sanitary sewer assets. McGrory said, “In all of the sales that I am working on, the municipalities are excited about receiving an influx of cash to handle such things as building fire houses, improving parks, acquiring open space and doing much needed repairs to roads and bridges. Instead of an asset that is costing the municipality to maintain, that asset is now monetized and giving the municipalities the ability to do much needed projects that better serve their residents.”