If both municipalities approve the plan, homes and businesses in the former Northampton Township part of Cuyahoga Falls would have the option to tap into Akron's municipal water service.
Michael McGlinchy, who heads Akron's public utilities bureau, says the deal has been in the works for at least three years.
Michael McGlinchy: These types of agreements take time to put together because one community's needs and desires in an agreement, on a draft basis, may not be exactly what the other community is willing to do.
Cuyahoga Falls customers who use Akron water will pay the city's rates plus 45%.
The agreement also includes a transfer of two roughly 20 acre parcels of land between the two municipalities, and Cuyahoga Falls will share with Akron half of the new nonresidential water customers' income taxes.
Over the last century, Akron has had numerous fights with upstream communities over its water supply which comes from the Cuyahoga River.