Wholly funded from Middle Fork Project net revenue
AUBURN, Calif. – At the May 20 meeting of the Placer County Water Agency ("PCWA") Board of Directors, the Board awarded 12 grants, totaling over $3.6 million, to seven public water purveyors in Placer County.
The grants, funded through PCWA's Financial Assistance Program, support Placer County special districts with projects that enhance safe and reliable drinking water service, water infrastructure reliability, and water and energy resources stewardship.
The $3.6 million figure is the most ever granted by PCWA in a single year. This is also the first instance in which the grants were wholly funded with net revenues from PCWA's Middle Fork American River Project ("Middle Fork Project"). Last July, the Middle Fork Project Finance Authority announced a net revenue distribution of $12 million, split evenly between PCWA and the County of Placer.
"…it is the essence of stewardship."
Joshua Alpine, PCWA Board Chair
"In the eight years since PCWA took over full operational control of the Middle Fork Project, we've experienced a multi-year drought, low energy prices, and a pandemic," said PCWA Board Chair Joshua Alpine. "Despite these challenges, we have optimized our operation, stayed up to date with necessary repairs, and fully funded our $50 million Middle Fork Project reserves requirement. Today, because of the sound financial planning of the Middle Fork Project Authority Board, we have net revenues available to generously fund our Financial Assistance Program and help public water purveyors throughout Placer County meet their water service needs; it is the essence of stewardship."
Hank White, General Manager of the Foresthill Public Utility District, thanked the PCWA Board stating, "This grant makes a real difference in Foresthill, and I'm excited to get started on some really important projects for our district."
2021 grant recipients
Christian Valley Community Service District: $81,700
Foresthill Public Utility District: $1,336,900
Midway Heights Community Water District: $414,819
Northstar Community Service District: $275,000
Olympic Valley Public Service District: $775,225
Sierra Lakes Community Water District: $50,000
Tahoe City Public Utility District: $750,000
The next regular meeting of the PCWA Board of Directors will be held on Thursday, June 3, at 2:00 PM. For information on PCWA board meetings, please contact the Clerk to the Board at (530) 823- 4850 or (800) 464-0030.