On March 16, 2022, the California Water Commission (CWC) has increased the potential funding amounts for the seven projects in the Water Storage Investment Program (WSIP). The inflation adjustment of approximately 1.5 percent for the Los Vaqueros Reservoir Expansion Project increased WSIP funding by $7,083,343 such that the maximum conditional award increased from $470,475,000 to $477,558,343.
Proposition 1, approved by California voters in 2014, directed the Commission to create a competitive process for funding water storage projects based on their public benefits. The projects were evaluated and ranked on criteria established in the WSIP regulations. In 2018 the California Water Commission approved Maximum Conditional Eligibility Determinations (MCEDs) for eight projects. Since that time, one project has withdrawn from the WSIP, and in 2021, the Commission voted to redirect a portion of that project’s MCED amount to bring two projects up to their requested amount (due to a shortage of funds, three projects received MCEDS less than they were eligible for) and to adjust the MCEDs of all existing projects to account for inflation at approximately 2.5 percent.
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