On January 20, 2021 the California Water Commission (CWC) authorized changes to maximum conditional awards for projects funded through the Water Storage Investment Program (WSIP) based on inflation and additional available funds. The inflation adjustment for the Los Vaqueros Reservoir Expansion Project increased WSIP funding by $11,475,000 such that the maximum conditional award increased from $459,000,000 to $470,475,000. CWC staff also confirmed that additional inflation adjustments may be possible if additional WSIP funding becomes available in the future.
Through the WSIP, the CWC will invest nearly $2.6 billion in the public benefits of water storage projects, consistent with the requirements of Proposition 1. In July 2018, the Commission made maximum conditional eligibility determinations, decisions that set the amount of Proposition 1 funding available to a given project, for eight projects that will create more than four million acre-feet of storage capacity. Since then, one applicant has withdrawn from the program allowing for the funds to be redistributed among the other projects.