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IWA Re-Formation Following Redevelopment Agency Dissolution

IWA Re-Formation Following Redevelopment Agency Dissolution. IWA was formed in 2000 Joint Powers Authority between the City of Indio and the Redevelopment Agency Separate legal entity with Independent Commission Nine Member Commission - 5 City Council and 4 Appointed by City Council

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IWA Re-Formation Following Redevelopment Agency Dissolution

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  1. IWA Re-Formation Following Redevelopment Agency Dissolution

  2. IWA was formed in 2000 • Joint Powers Authority between the City of Indio and the Redevelopment Agency • Separate legal entity with Independent Commission • Nine Member Commission - 5 City Council and 4 Appointed by City Council • Lease agreement between the IWA and the City for water system assets • System Valuation performed in 2000 as basis of setting annual lease payment • Employee Lease agreement History of the Indio Water Authority

  3. Water System assets increased 10 fold in size and value between 2000 and 2012 • $60 Million Water Revenue Bonds issued in 2006 • Water System Valuation completed in January 2012 • Asset-Based Valuation • Contributions to Water System defined as IWA, Developer and City • Began negotiations of a new lease payment schedule • Looked at value of system in 2000 and subtracted the lease payments to date • Commission gave direction to move forward with a hybrid lease payment requiring 2 lump sum payments • IWA staff began research of funding options for new lease agreement Lease Agreement Changes

  4. February 1, 2012 – State announced Dissolution of all Redevelopment Agencies • City of Indio decides to serve as the Successor Agency to wrap up the business of the Redevelopment Agency • Uncertainty about how the IWA could continue functioning with RDA as a JPA partners, particularly when it came to contracts and financing AB X1 26 - State of California Takes Away RDA’s

  5. New JPA partners • Mutual Water Company, Contiguous City/District, Non-Contiguous Agency, Indian Tribe, Agency similar to RDA • Special Act Legislation • Drafted language and had preliminary discussions with legislators • Traditional Water District • LAFCO process • City Department • Financial and policy focus shift New Agency Formation Options

  6. April 2012, IWA Commission directed staff to form a new JPA with the City of Indio Housing Authority and the City of Indio • The Housing Authority was formed by resolution in 1966 but had not been active until the recent dissolution of the RDA New JPA

  7. May 1, 2012 Study Session • Review of System Valuation Report • Discussion of complete separation from the City • Employee benefit options • Property and Liability options • City/IWA shared functions (Internal Service Funds) • May 16, 2012 – Amendment to the IWA JPA through resolution • Removed the Redevelopment Agency • Added the Housing Authority • Changed the make up of the Board – Five City Council Members • Direction given to completely separate the IWA from the City • June 2012 – Lease Agreement Amendment • Lump sum payment of $2M for FY 2011-12 • Annual lease payment for next 8 years – system will be “paid off” And we are off….

  8. Financial • Currently share financial system with the City • Authorization to purchase separate modules • Accounts payable, purchasing, CIS Customer data, Payroll, Budget, etc. • Internal Service Funds • Risk • Fleet • Buildings & grounds • Centralized services • Employees • Existing lease agreement for employees • Many options being considered by the Board • Pension reform The Separation Process

  9. Political Courage • Complete focus on water issues • Transparency • Efficiencies • Employee morale • Customer Satisfaction New Paradigm?

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