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CPUC approval delayed for Swiss Village utility purchase; staff plans customer outreach and closed-session price discussion
Summary
Staff updated the committee that CPUC approval for the Swiss Village utility acquisition is delayed until January; customers will receive outreach about delayed billing, and staff said a closed session will address due-diligence issues and potential renegotiation of the purchase price.
A staff update explained the district's expected purchase-and-sale of the Swiss Village utility has been delayed because the CPUC will not issue approval before Jan. 1. Staff said they now expect the California Public Utilities Commission (CPUC) to issue approval in January and that they will send a public outreach letter to customers to explain the delay and that customers may experience a brief period without a water bill.
Staff also told the committee that due-diligence matters were discovered that could affect the purchase price; the board will meet in closed session to discuss negotiation strategy and next steps. Committee members had no further questions at the department-report juncture.
