• This option shares many features with the Regional CCO model, the key difference is that the standalone CCO would be 100 per cent owned by Council, giving it more influence over the CCO as the only shareholder.

• However, this also means Council would be solely responsible for developing a full transition plan to support establishing and operating the new organisation.

• Unlike the Regional CCO, this option does not create the scale and efficiencies that come from a regional model, which means potential savings and the ability to attract specialist skills and expertise could be more challenging.

• Similar to option #1 – the Regional CCO, ownership of water assets along with associated debt and liabilities, would transfer to the organisation, allowing it to borrow money for water investment and construction separate from council borrowing in other areas. However, credit rating agencies will still consider both water and non-water debt together when evaluating the council’s financial position.