[INCREASE APPROVED – READ UPDATE BELOW] 9:00AM EST: The New York City Water Board meets Friday morning to vote on a 14.5 percent increase in city water rates. This is the second time in less than a year, that the city’s water board is voting on a proposed rate hike. The proposal comes on the heels of an 11.5 percent jump last year.

The Department of Environmental Protection says it needs the money to cover rising costs.

If the vote passes, the new rates would take effect July 1.

With the economy as tight as it has been, the potential water rate increase could not come at a worse time. Con Edison is proposing another rate increase as well as the Rent Guidelines Board which recently proposed a rent increase.

The vote comes as a new report says New York City has some of the cleanest and least expensive drinking water in the world, thanks to solid investments in watershed protection.

New York has the largest unfiltered water supply system in the world. The system of reservoirs stretches as far as 125 miles north of the city.

UPDATE 11:15AM EST: The city water board approved a 14.5 percent rate hike this morning – the second double digit increase in the last year.

The Department of Environmental Protection says it needs the money to cover rising costs. Rates went up 11.5 percent just last year.

In December, the City Council passed a law allowing the Department of Environmental Protection to slap liens on the properties of water deadbeats. But the department says the crackdown hasn’t brought in enough money.
(Source: NY1 / 1010WINS)