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Board reviews $36 million water capital plan; staff warns financing risk for major projects
Summary
Staff presented a $36 million 2026 water capital program with $31.4M proposed as financed expenditures, highlighting Tahoe Cedars (~$19.7M) and Madden Creek phase 4 (~$11.5M) as finance-dependent projects and asking board guidance on sequencing if loans or bonds are delayed.
Staff told the board the 2026 water capital plan totals about $36 million, with the bulk—roughly $31.4 million—planned to be financed. Hussain Johnson and other staff said the largest single line item is the Tahoe Cedars Water System Reconstruction Project (stage 1 planning/design and phase 1 construction) and that Madden Creek phase 4 is being carried forward as a full construction effort in 2026 if financing is secured.
“We are proposing to move into Phase I construction in 2026,” Hussain Johnson said of the Tahoe Cedars project, adding that initial proposal-level estimates are still being refined. Staff said construction-cost estimates and financing availability may shift and that options include SRF loans, USDA programs, bond financing or other instruments. Board members urged staff to monitor the bond market and bring refined financing recommendations at upcoming meetings.
