The New York City Water Board on Friday voted to raise rates by 14.5% in the coming fiscal year over the objections of several City Council members. The increase was higher than an expected 11.5% increase that was projected last year.

Department of Environmental Protection commissioner Emily Lloyd said the additional increase was needed.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.