Waukesha deserves a shot at Great Lakes water supply The city of Waukesha, Wis., has applied to borrow water from Lake Michigan under the Great Lakes Compact, an agreement between the states and Canadian provinces that border the Great Lakes designed to meet long-term drinking water needs for communities like Waukesha. Is water in the Great Lakes a public good, a private good, or a common resource? What are the goals of the Compact? How might they be achieved?