The chair and vice chair of the San Diego County Water Authority are urging MWD to perform the kind of fiscal due diligence that ratepayers deserve before voting on the state’s $17 billion WaterFix plan.
MWD’s Board is set to vote on the WaterFix proposal on Sept. 26, potentially committing Southern California to more than $4 billion in debt without certainty about the actual costs, the water supply benefits or who else will pay for the project.
The Water Authority’s Board of Directors has not voted on the WaterFix project because MWD has not provided enough information to quantify the project’s costs and benefits. Instead, the current assessment is based on a series of assumptions, any one of which could materially change and substantially alter the cost-benefit ratio.
Those concerns prompted Water Authority Chair Mark Muir and Vice Chair Jim Madaffer to email leaders across Southern California this week seeking support for more detailed cost allocation and financing information before a vote by MWD’s Board. Click here to read the letter.