Bernhard Capital Partners, a private equity firm based in New Orleans, has offered a proposed “concession” arrangement involving the Fayetteville Public Works Commission. Under the agreement, the firm would pay potentially hundreds of millions to the City of Fayetteville for the rights to manage the utility and collect the revenue, for 30 years. The following statement was released on Saturday by the PWC board.

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The Fayetteville Public Works Commission, which provides electricity, water and sewer for more than 114,000 people, bills itself as the “hometown utility.” 

That would no longer be fully true — at least for the next three decades — if the city of Fayetteville and its utility enter into an agreement with a company out of Baton Rogue, Louisiana. 

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