The company that wanted to manage and operate Lafayette Utilities System is pulling out.
NextGEN Utility Systems is an affiliate of Baton Rouge based Bernhard Capital Partners.
Today, the company announced that is withdrawing its offer.
“In response to the many discussions that have been held since submitting our proposal, as well as the importance of the decision, we are respectfully withdrawing our proposal,” the statement said today.
“We appreciate your consideration, and we look forward to any related discussions that may arise in the future.”
To read the company’s full statement, click on this link.
Tonight, a resolution proposed by Kenneth Boudreaux permitting the Lafayette Public Utilities Authority to only consider the sale, lease partnership or third-party agreement with the use of transparent requests for proposals failed.
We’ll have more tonight at 10 p.m.This resolution has just FAILED. It would have established that the LPUA would not consider any possible sale, lease, third party management agreement, partnership, or disposition, in whole or in substantial part, of the City of LUS without a transparent process. @KLFY pic.twitter.com/OLnyrX1yv9— Lester Duhé (@LesterDuhe) November 5, 2018
This is a developing story.
