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Discussion and <br />April 3, 2018 <br />Page 3 <br />Review of the California WaterFix Project update <br />o Such an endeavor would increase MWD's share to 64.6% and result in an annual cost <br />impact increase from 1.1 % to 2.2%, or two times the original amount. <br />o The water supply benefit to MWD would increase from 410,000 AF (under Staged Approach) <br />to 840,000 AF under average conditions. <br />Financing and purchasing the unsubscribed share of the California WaterFix would require a new <br />Master Agreement with DWR to ensure all benefits accrue to MWD. MWD would want to maintain <br />the ability to sell and lease excess capacity and/or water to ensure a return on investment. <br />MWD desires to set terms, compensation amounts, and capacity to other State or Federal <br />Contractors for the life of the Project. MWD believes this provides the flexibility to help balance <br />supplies from both the State Water Project and the Colorado River. <br />Source of Santa Ana Water <br />The City of Santa Ana's water supply comes primarily from groundwater (about 75%). A blend of <br />imports from northern California and the Colorado River make up the remaining 25%. <br />MWD Board Meetinq <br />An item has been added to the upcoming April 10, 2018 MWD Board meeting Agenda to discuss <br />this matter. MWD staff is seeking to have the Board consider two main actions: <br />o MWD's share of the project is 67% (31.6% of the total) <br />o Additionally, MWD and others would finance the unsubscribed 33% through the SWP <br />Buyer's Group with contracts executed obligating CVP Participants to pay up to 33% of the <br />cost <br />The Cities of Santa Ana, Fullerton, and Anaheim are scheduled to meet on April 3, 2018 with their <br />MWD Board Directors to discuss the actions being considered. <br />STRATEGIC PLAN ALIGNMENT <br />This item supports Strategic Plan Item 6. Community Facilities & Infrastructure, 1. Establish and <br />maintain a Community Investment Plan for all City assets, h. Complete water/waste water rate <br />study to ensure adequate resources to capture critical long-term capital needs. <br />65A-3 <br />