Largo, Fla., city officials just approved a new three-year recycling contract with Waste Management of Florida.
Under the terms of the $1.61 million contract, the city will pay Waste Management $105 per ton to process the materials. However, the city will receive a rebate for the value of the items, which is presently $40.50 per ton, so the bottom-line fee will be $64.50 each ton.
The city will end up paying $387,000 each year for Waste Management to take its roughly 6,000 tons of mixed recyclables.
Tampa Bay Newspapers has more:
Despite mounting costs and an unstable market, it doesn’t appear the city’s recycling program will be going away anytime soon.
City commissioners voted 6-1 on Oct. 15 to approve a three-year, $1.161 million contract with Waste Management Inc. of Florida to process the city’s recyclables.
For the past five years, the city of Largo made about $300,000 annually for its recyclables. Now, thanks to a decline in the market for some materials, the city will end up paying $387,000 each year for Waste Management to take its roughly 6,000 tons of mixed recyclables.