CLWA Names New Board for Valencia Water Co.; Sale Closes Friday

Pending the closing of their $58 million deal to buy the Valencia Water Co., Castaic Lake Water Agency officials named five people to the board that will operate the VWC, said Dan Masnada, CLWA’s general manager.

“The closing (of the deal) is (Friday),” Masnada said. “The check has effectively been cut and the money will be delivered.”

That board will consist of Masnada; Valerie Pryor, CLWA administrative services manager; Mauricio Guardado, the Santa Clarita Water District retail manager; and the other two folks are from Valencia Water Co. — Keith Abercrombie, general manager for Valencia Water Co.; and Greg Milleman, senior vice president at VWC.

The seat that Abercrombie previously held is still an appointed seat. The board will consider a replacement in the time being, and in the 2014 election that seats converts to an elected seat, Masnada said.

“Currently, we have 8 elected and three appointed (members),” Masnada said. “And come 2014, it’ll be 9 elected and 2 appointed — of the nine, three will be at large and then there will be two members each from divisions 1, 2 and 3 of the water district,” Masnada said.

The action passed 7-2. B.J. Atkins voted no, and Jacquie MacMillen voted no, because she felt uncomfortable having CLWA staff on the board. The law prohibits the CLWA from operating a water retailer outside of Santa Clarita Water District lines.

Masnada said VWC operations will continue as they have been, under regulation by the California Utilities Commission.

The final action approved at the meeting was to appoint a CLWA shareholder commitee that the to which the VWC board of directors will report. Tom Campbell, president of the CLWA, will make the appointments.

CLWA Names New Board for Valencia Water Co.; Sale Closes Friday