Lansing Mayor Virg Bernero says the time has come to explore the possibility of selling the city-owned Board of Water and Light. According to a statement provided to Lansing City Pulse, Bernero views potential changes involving the BWL as “a way to address our long term liabilities.” However, he said any decision at this point, “would be premature.”
Bernero has been pre-occupied with the long-term fiscal health of the city for years. Lansing’s long-term budget deficit, estimated at $600-million, is comprised mainly of costly pension and health benefit obligations. He’s expressed concerns about potential bankruptcy.
The mayor has tapped ex-Mayor David Hollister to begin studying such a move. Current State talks with Hollister, who chair's Lansing's Financial Health Team.