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State budget threatens local water agencies: State may snatch millions from Castaic Lake Water Agency

Posted by: Maven on June 30, 2009 at 12:21 pm

From the Santa Clarita Signal:

Water rates will spike and capital improvement project will be frozen if the state snatches $17 million in property tax from Castaic Lake Water Agency, a water official said. “Under the worse possible scenario, we would raise rates for retailers and we would indefinitely suspend some of our capital improvement projects,” said Dan Masnada, Castaic Lake Water Agency general manager.

The Water Agency sells state project water to the four water retailers in the Santa Clarita Valley.

While the state Legislature has not proposed using proposition 1A, which allows it to raid the coffers of special districts to help balance the state budget, the weakened state finances makes such a move possible, Masnada said. “There’s always the possibility,” Masnada said. “If the state doesn’t get its finances in order, we could be in jeopardy.”

Read more from the Santa Clarita Signal by clicking here.

June 30, 2009 · Filed Under Water Agency News

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