[CLWA] – Castiac Lake Water Agency’s Board of Directors is scheduled Wednesday night, Dec. 12, to consider authorizing Agency staff to initiate the purchase of Valencia Water Company, a move that would bring 84 percent of the Santa Clarita Valley retail water connections under CLWA’s umbrella.
“This is an outstanding opportunity to ensure local public ownership of a water company that has always been privately held,” said CLWA General Manager Dan Masnada. “The acquisition would result in future cost savings and enhance water supply reliability for the entire Santa Clarita Valley.”
On the agenda Wednesday night is a “resolution of necessity” that, if approved by an eight-member supermajority of the board, would authorize Agency staff to initiate eminent domain proceedings with the goal of reaching a negotiated settlement with Newhall Land, which owns Valencia Water Company.
Eminent domain is a legal process through which public agencies can acquire private property to be utilized for public benefit. In this case, both parties would enter the proceedings with the intent to reach an agreement for the sale of the private company to the public agency.
CLWA to Consider Buying Valencia Water Co. from Newhall Land
