Editing Bayonne, New Jersey (section)

===Municipal Utilities Authority===
The Bayonne Municipal Utilities Authority (BMUA) is the second agency to use [[wind power in New Jersey]] and has built the first [[wind turbine]] in the [[New York metropolitan area|metropolitan area]].<ref>Hack, Charles. [http://www.nj.com/jjournal-news/index.ssf/2011/08/bayonne_mua_says_windmill_will.html "Bayonne MUA says windmill will start generating electricity next year"] {{Webarchive|url=https://web.archive.org/web/20120624022027/http://www.nj.com/jjournal-news/index.ssf/2011/08/bayonne_mua_says_windmill_will.html |date=June 24, 2012 }}, ''[[The Jersey Journal]]'', August 12, 2011. Accessed August 29, 2015.</ref><ref>Staff. [http://www.nj.com/hudson/index.ssf/2009/06/uncle_sam_paying_most_of_bayon.html "Uncle Sam paying most of Bayonne's windmill tab"] {{Webarchive|url=https://web.archive.org/web/20130728105231/http://www.nj.com/hudson/index.ssf/2009/06/uncle_sam_paying_most_of_bayon.html |date=July 28, 2013 }}, ''The Jersey Journal''/[[NJ.com]], June 18, 2009. Accessed August 29, 2015.</ref><ref>Staff. [http://www.nj.com/hudson/index.ssf/2010/08/wind_turbine_to_save_bayonne_b.html "Wind turbine to save Bayonne big bucks in long run"] {{Webarchive|url=https://web.archive.org/web/20101129173019/http://www.nj.com/hudson/index.ssf/2010/08/wind_turbine_to_save_bayonne_b.html |date=November 29, 2010 }}. ''The Jersey Journal''/NJ.com, August 23, 2010. Accessed August 29, 2015.</ref><ref>Sullivan, Al. [http://hudsonreporter.com/view/full_story/16848744/article-All-geared-up-Windmill-construction-would-power-MUA-?instance=lead_story_left_column "All geared up: Windmill construction would power MUA"] {{Webarchive|url=https://web.archive.org/web/20160113004122/http://hudsonreporter.com/view/full_story/16848744/article-All-geared-up-Windmill-construction-would-power-MUA-?instance=lead_story_left_column |date=January 13, 2016 }}. ''[[The Hudson Reporter]]'', December 21, 2011. Accessed August 29, 2015.</ref><ref>Hack, Charles. [http://www.nj.com/hudson/index.ssf/2011/05/work_on_bayonne_windmill_to_re.html "Work on Bayonne windmill to resume shortly"] {{Webarchive|url=https://web.archive.org/web/20140714154731/http://www.nj.com/hudson/index.ssf/2011/05/work_on_bayonne_windmill_to_re.html |date=July 14, 2014 }}. ''The Jersey Journal''/NJ.com, May 8, 2011. Accessed August 29, 2015.</ref> Construction of a single turbine tower was completed in January 2012.<ref>Kowsh, Kate. [http://www.nj.com/hudson/index.ssf/2012/01/bayonne_municipal_utilities_au.html "Bayonne Municipal Utilities Authority's towering wind-turbine project takes form as crane lifts center piece into place"] {{Webarchive|url=https://web.archive.org/web/20120122082532/http://www.nj.com/hudson/index.ssf/2012/01/bayonne_municipal_utilities_au.html |date=January 22, 2012 }}, ''[[The Jersey Journal]]'', January 19, 2012. Accessed August 29, 2015.</ref><ref>Kowsh, Kate. [http://www.nj.com/hudson/index.ssf/2012/01/bayonne_completes_construction.html "Bayonne completes construction of wind-turbine project"] {{Webarchive|url=https://web.archive.org/web/20120125085158/http://www.nj.com/hudson/index.ssf/2012/01/bayonne_completes_construction.html |date=January 25, 2012 }}, ''[[The Jersey Journal]]'', January 20, 2012. Accessed August 29, 2015.</ref> It is the first wind turbine created by [[Leitwind]] to be installed in the United States.<ref>[http://en.leitwind.com/Home/The-first-wind-turbine-for-the-USA-to-be-delivered-by-year's-end "Leitwind goes to America: The first wind turbine for the USA to be delivered by year's end"], Leitwind. Accessed February 9, 2012.</ref>

In December 2012, the autonomous agency entered into a water management agreement with the Bayonne Water Joint Venture (BWJV), a partnership between [[United Water]] and investment firm [[Kohlberg Kravis Roberts|KKR]].<ref name=Hack>Hack, Charles (July 23, 2012). [http://www.nj.com/hudson/index.ssf/2012/07/united_water_to_take_over_oper.html "United Water to take over operations of Bayonne's water, sewer systems in $150 million deal"] {{Webarchive|url=https://web.archive.org/web/20120727012253/http://www.nj.com/hudson/index.ssf/2012/07/united_water_to_take_over_oper.html |date=July 27, 2012 }}. NJ.com</ref> The 40-year concession agreement is a [[public-private partnership]] between the city and the BWJV in which the private partners pay off the BMUA's $130 million debt and take over the operations, maintenance, and capital improvement of Bayonne's water and wastewater utilities in exchange for a regulated share of the revenue.<ref name=Baumann>[http://www.sustainablecitynetwork.com/topic_channels/water/article_adc6b132-4402-11e2-b2fa-0019bb30f31a.html "Bayonne Revisited: Water Partnerships One Year Later"] {{Webarchive|url=https://web.archive.org/web/20141018213902/http://www.sustainablecitynetwork.com/topic_channels/water/article_adc6b132-4402-11e2-b2fa-0019bb30f31a.html |date=October 18, 2014 }}, Sustainable City Network, December 10, 2013. Accessed August 29, 2015.</ref><ref name=Gao>{{cite journal|last1=Gao|first1=Su|title=Can private equity fill the US water investment gap?|journal=Bloomberg New Energy Finance|date=March 26, 2013|pages=1–11}}</ref><ref>Henning, Rich. [http://www.unitedwater.com/newscenter.aspx?id=8413 "United Water and KKR Sign Unique Utility Partnership with City of Bayonne, NJ (Press Release)"] {{Webarchive|url=https://web.archive.org/web/20140705204251/http://www.unitedwater.com/newscenter.aspx?id=8413 |date=July 5, 2014 }}, [[United Water]], December 20, 2012. Accessed August 29, 2015.</ref> United Water is managing the operations for the partnership, while KKR is providing 90% of the funding.<ref name=WSJ>Corkery, Michael. [https://www.wsj.com/news/articles/SB10001424127887323551004578438784008046600 "Private Equity Tries on the Hard Hat"] {{Webarchive|url=https://web.archive.org/web/20160112150609/http://www.wsj.com/news/articles/SB10001424127887323551004578438784008046600 |date=January 12, 2016 }}, ''[[The Wall Street Journal]]'', April 22, 2013. Accessed August 29, 2015.</ref> A rate schedule was included in the agreement, and it contained an immediate 8.5% utility rate increase (the first rate increase since 2006),<ref name=Hack /> followed by two years without increases, followed by annual increases estimated to range between 2.5%–4.5%.<ref name=Gao /> This partnership was sought for several reasons, including the BMUA's debt, its shortage of skilled employees, and its lagging rate revenue from years without rate increases and reduced demand.<ref name=Baumann /><ref name=Enright>{{cite web|last1=Enright|first1=Dennis|title=Why the Bayonne Water/Wastewater Public- Private Partnership Succeeded|url=http://www.nwfinancial.com/pdf/NW-BMUA-Report.pdf|publisher=NW Financial Group, LLC|access-date=July 7, 2014|archive-date=December 24, 2015|archive-url=https://web.archive.org/web/20151224052623/http://www.nwfinancial.com/pdf/NW-BMUA-Report.pdf|url-status=live}}</ref> Part of this reduced demand stemmed from the closure of the [[Military Ocean Terminal at Bayonne]],<ref name=Enright /> and the fact that the subsequent plans to redevelop the site with housing fell short.<ref>{{cite web|last1=Strunsky|first1=Steve|title=Port Authority to buy former Military Ocean Terminal in Bayonne in effort to expand ports|date=June 25, 2010|url=http://www.nj.com/news/index.ssf/2010/06/bayonne_officials_approve_port.html|publisher=NJ.com|access-date=July 7, 2014|archive-date=December 24, 2015|archive-url=https://web.archive.org/web/20151224000327/http://www.nj.com/news/index.ssf/2010/06/bayonne_officials_approve_port.html|url-status=live}}</ref> The BMUA's $130 million debt that was paid off by the BWJV represented over half of Bayonne's overall debt ($240 million) at the time,<ref name=Gao /> and in March 2013, [[Moody's Investors Service]] upgraded the credit rating of Bayonne from 'negative' to 'stable', citing the water deal.<ref name=WSJ />