The Queen Creek Town Council approved a $36 million purchase agreement Wednesday for the acquisition of privately owned Queen Creek Water Co.
The agreement allows the town to further investigate the company’s infrastructure and finances before the final purchase of the company, said interim Assistant Town Manager Patrick Flynn.
Queen Creek Water Co. could become a town-run utility as early as January 2008.
The purchase would be funded through the Water Infrastructure Authority, a state agency the town already used to purchase its sewer system.
Taking control of the utility allows Queen Creek to determine its own destiny through growth, said Town Manager John Kross.