Park Water Approves 2014 Capital Investment Program
The capital investment plan is for California & Montana operations
Park Water Co. announced its board of directors approved a $23.5 million capital investment program for Park Water and its subsidiaries. The capital investment program includes $11.8 million for Park Water utility operations and corporate services. The regulated utility operations of Park Water serves more than 27,000 customers, providing water service to an estimated population of 133,000 people in several communities in southeast Los Angeles County.
The approval includes a $7.7 million capital investment program for Apple Valley Ranchos Water Co., a regulated California utility that has over 19,000 customers and provides water service to about 65,000 people in and around Apple Valley.
The capital investment program includes $4 million for Mountain Water Co., a regulated utility in Missoula, Mont. Mountain Water serves more than 22,000 customers providing water service to a population of about 65,000 people in and around the city of Missoula.
Park and its subsidiaries will direct more than 80% of the capital investment program to improving or replacing water mains, service lines, meters, hydrants, wells, pumping facilities, reservoirs and other water system infrastructure to assure continued reliable service. The balance of the program is for investments in items such as water supply rights, field and office equipment, technology and site improvements.
"Park Water's capital investment program reaffirms our commitment to the safe and reliable delivery of quality drinking water," said Christopher Schilling, Park Water's president and CEO. "The people in the communities we serve count on us each and every day. Our highly trained, professional staff and our board embrace this responsibility."
Schilling added Park Water Co. water systems are similar to many other water systems in the U.S. built generations ago. These water systems have many miles of pipe, wells and other facilities approaching the end of their expected reliable service life. Replacing this critical infrastructure is a challenge for the entire nation.