|
Title:
|
REPORT - SANTA ROSA WATER FUND-TO-FUND LOAN FOR THE PURPOSE OF ACQUIRING LAGUNA TREATMENT PLANT BUFFER PROPERTY
BACKGROUND: It is a practice of Santa Rosa Water (SRW) to purchase buffer property around the Subregional Laguna Treatment Plant (LTP) when such property becomes available. On February 18, 2016, in closed session, the Board of Public Utilities provided direction to staff regarding price and terms for the purchase of property located at 4090 Walker Avenue (the Property). On April 21, 2016, the Board of Public Utilities approved the purchase of the Property consistent with the price and terms discussed in closed session, subject to City Council approval of a Santa Rosa Water fund-to-fund loan.
Acquisition of the Property is for the benefit of the Subregional System and the fund-to-fund loan is for the benefit of the Waste Operations Fund, which does not currently have the funds on hand for the purchase. The purchase is thus subject to City Council approval of financing vi...
|