TABLE OF CONTENTS -- EXECUTIVE SUMMARY -- Introduction -- FINDINGS -- Pipes are expensive, but invisible. -- Pipes are hearty, but ultimately mortal. -- Back to the future:pipe replacement needs are a "demographic echo." -- Water infrastructure is local andtherefore vulnerable to demographic changes. -- Replacement of water treatmentplants is also coming due. -- Increased expenditures are neededto climb the ramp and avoid a gap. -- Addressing affordability is the heart of the challenge. -- RECOMMENDATIONS -- 1) Measures by Utilities and Local Governments -- 2) Reform of State Programs -- 3) A Significant Increase in Federal Assistance -- CONCLUSION -- APPENDIX A 20 Sets of Nessie Curves -- Index of Nessie Curves -- APPENDIX B.