DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICT(S) IMPACTED: City Wide
SUBJECT:
Briefing on the Vista Ridge Water Supply Project by the San Antonio Water System (SAWS).
SUMMARY:
Briefing to City Council by representatives from SAWS on the Vista Ridge Water Supply Project.
BACKGROUND INFORMATION:
On September 29, 2014, the SAWS Board of Trustees authorized execution and approval of the proposed Vista Ridge Regional Supply Project Water Transmission and Purchase Agreement in substantially final form. Subsequently, on October 15, 2014, they approved various clarifying and conforming modifications to the contract.
The City Council voted to approve the Vista Ridge Water Transmission and Purchase Agreement on October 30, 2014. The Vista Ridge Project is expected to allow for water delivery of up to 50,000 acre feet of water annually beginning in 2020. The Project includes 142 miles of pipeline to transport water from Burleson County to San Antonio. Under the contract, SAWS will only pay for water that is made available at the agreed upon delivery point.
On November 19, 2015, the City Council approved a rate plan to provide support for water supply project, including the development of Vista Ridge.
On November 25, 2015 Abengoa Sociedad Anónima (S.A.), Abengoa Vista Ridge LLC’s parent company, began pre-bankruptcy proceedings, entering into “pre-insolvency,” which allows the company four months to reach agreements with its creditors to avoid entering full bankruptcy. The end of the four month period is March 28, 2016.
SAWS representatives will provide a briefing on the Vista Ridge Water Supply Project to City Council on February 18, 2016.
ALTERNATIVES:
This item is for briefing purposes only.
FISCAL IMPACT:
This item is for briefing purposes only.
RECOMMENDATION:
This item is for briefing purposes only.